Twinbeech Capital LP Buys New Position in Meta Platforms, Inc. (NASDAQ:META)

Twinbeech Capital LP bought a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,287 shares of the social networking company's stock, valued at approximately $17,148,000.

Other institutional investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $47,000. Finally, Conquis Financial LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $59,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Up 0.0%

NASDAQ META opened at $640.43 on Tuesday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock's 50 day moving average is $571.79 and its 200 day moving average is $607.61. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month 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.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on META shares. TD Securities lowered their target price on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wedbush upped their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Truist Financial upped their target price on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Pivotal Research lowered their target price on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Oppenheimer upped their target price on Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $701.05.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 406 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the sale, the chief operating officer now owns 4,608 shares in the company, valued at approximately $2,265,707.52. This represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.72, for a total value of $330,457.68. Following the sale, the insider now owns 31,259 shares of the company's stock, valued at approximately $19,903,230.48. This trade represents a 1.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 98,837 shares of company stock worth $64,758,661 over the last quarter. 13.71% of the stock is currently owned by insiders.

Meta Platforms 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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