Vident Advisory LLC Purchases 93,222 Shares of Meta Platforms, Inc. (NASDAQ:META)

Vident Advisory LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 86.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 200,572 shares of the social networking company's stock after purchasing an additional 93,222 shares during the period. Meta Platforms comprises 2.1% of Vident Advisory LLC's holdings, making the stock its 5th largest position. Vident Advisory LLC's holdings in Meta Platforms were worth $117,439,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the 4th quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms during the 4th quarter worth about $45,000. Stuart Chaussee & Associates Inc. acquired a new position in Meta Platforms in the 4th quarter valued at about $47,000. Finally, Conquis Financial LLC acquired a new position in Meta Platforms in the 4th quarter valued at about $59,000. Institutional investors own 79.91% of the company's stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,668 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction that occurred 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 of the company's stock, 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 worth $41,665,958 in the last quarter. Company insiders own 13.71% of the company's stock.

Meta Platforms Trading Down 0.5%

NASDAQ:META opened at $640.34 on Monday. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The firm's fifty day moving average is $571.37 and its 200-day moving average is $607.10. The firm has a market cap of $1.61 trillion, a P/E 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 quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $41.45 billion. During the same period last year, the business posted $4.71 EPS. The business's revenue was up 16.1% compared to the same quarter last year. Equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on META shares. DA Davidson reduced their price objective on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. Benchmark reduced their price target 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. TD Securities decreased their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Arete Research raised Meta Platforms to a "hold" rating in a report on Friday, January 24th. Finally, Jefferies Financial Group reduced their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.

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