Triavera Capital LLC Buys Shares of 16,713 Meta Platforms, Inc. (NASDAQ:META)

Triavera Capital LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 16,713 shares of the social networking company's stock, valued at approximately $9,786,000. Meta Platforms makes up approximately 5.3% of Triavera Capital LLC's portfolio, making the stock its 8th biggest holding.

Other institutional investors also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth about $40,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms during the fourth quarter worth about $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms during the fourth quarter worth about $47,000. Finally, Cordant Inc. purchased a new stake in Meta Platforms during the fourth quarter worth approximately $59,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Down 0.5%

Shares of META stock opened at $640.34 on Friday. The business's fifty day moving average price is $571.37 and its 200 day moving average price is $606.82. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The firm has a market capitalization of $1.61 trillion, a PE ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

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

Analyst Upgrades and Downgrades

META has been the subject of several recent analyst reports. Guggenheim boosted their target price on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. TD Securities decreased their target price on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Benchmark decreased their target price on Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Royal Bank of Canada restated an "outperform" rating and set a $740.00 target price on shares of Meta Platforms in a research note on Thursday, May 1st. Finally, Arete Research upgraded Meta Platforms to a "hold" rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $701.05.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,668 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $703.21, for a total value of $13,830,734.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $736.07, for a total value of $677,920.47. Following the completion of the sale, the insider now directly owns 35,787 shares in the company, valued at $26,341,737.09. This trade represents a 2.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,852 shares of company stock valued at $41,665,958 over the last quarter. Company insiders own 13.71% of the company's stock.

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.

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