Tiptree Advisors LLC Takes $14.05 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Tiptree Advisors LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 24,000 shares of the social networking company's stock, valued at approximately $14,052,000. Meta Platforms comprises about 14.6% of Tiptree Advisors LLC's investment portfolio, making the stock its biggest holding.

A number of other hedge funds also recently made changes to their positions in the company. Fjell Capital LLC bought a new stake in Meta Platforms in the fourth quarter worth $1,836,000. Opulen Financial Group LLC purchased a new stake in Meta Platforms in the fourth quarter valued at about $325,000. Daner Wealth Management LLC purchased a new stake in Meta Platforms during the 4th quarter worth approximately $334,000. Appleton Partners Inc. MA raised its stake in Meta Platforms by 3.7% in the 4th quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company's stock worth $15,406,000 after acquiring an additional 951 shares during the last quarter. Finally, Kelleher Financial Advisors increased its holdings in shares of Meta Platforms by 0.9% in the fourth quarter. Kelleher Financial Advisors now owns 12,415 shares of the social networking company's stock valued at $7,269,000 after purchasing an additional 109 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the transaction, the chief operating officer now directly owns 5,622 shares in the company, valued at $2,744,547.96. This trade represents a 9.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $635.50, for a total transaction of $329,824.50. Following the transaction, the insider now owns 30,740 shares of the company's stock, valued at approximately $19,535,270. The trade was a 1.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,628 shares of company stock valued at $34,826,386 over the last quarter. Company insiders own 13.61% of the company's stock.

Meta Platforms Stock Up 0.3%

Shares of NASDAQ:META traded up $2.05 during trading on Thursday, hitting $645.63. 5,399,014 shares of the company were exchanged, compared to its average volume of 14,434,981. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm's 50 day moving average price is $577.74 and its 200-day moving average price is $610.01. The stock has a market capitalization of $1.62 trillion, a P/E ratio of 26.94, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the firm posted $4.71 earnings per share. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Evercore ISI increased their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Pivotal Research lowered their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus lifted their price objective on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Tigress Financial reaffirmed a "strong-buy" rating on shares of Meta Platforms in a report on Tuesday, February 11th. Finally, Needham & Company LLC reaffirmed an "underperform" rating on shares of Meta Platforms in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $701.05.

Meta Platforms Company Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.