Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Virtue Capital Management LLC

Virtue Capital Management LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,608 shares of the social networking company's stock after acquiring an additional 637 shares during the quarter. Virtue Capital Management LLC's holdings in Meta Platforms were worth $3,869,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Millstone Evans Group LLC acquired a new position in Meta Platforms during the 4th quarter valued at approximately $40,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at $47,000. Finally, Conquis Financial LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $59,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

META traded up $1.79 on Thursday, reaching $645.37. 5,262,093 shares of the company's stock were exchanged, compared to its average volume of 16,867,680. The stock has a market cap of $1.62 trillion, a PE ratio of 26.98, a P/E/G ratio of 1.42 and a beta of 1.24. The stock's fifty day moving average price is $577.74 and its 200-day moving average price is $610.01. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. 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 issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.71 EPS. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 608 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $673.96, for a total value of $409,767.68. Following the transaction, the chief operating officer now directly owns 8,662 shares in the company, valued at approximately $5,837,841.52. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,628 shares of company stock worth $34,826,386 in the last ninety days. 13.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on META shares. Piper Sandler increased their price objective on Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Moffett Nathanson increased their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Citigroup raised their target price on Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Susquehanna dropped their target price on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Finally, Tigress Financial reaffirmed a "strong-buy" rating on shares of Meta Platforms in a report on Tuesday, February 11th. One investment 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $701.05.

About Meta Platforms

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.