Meta Platforms, Inc. (NASDAQ:META) Stock Position Raised by Vivaldi Capital Management LP

Vivaldi Capital Management LP raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 72.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,394 shares of the social networking company's stock after purchasing an additional 1,853 shares during the quarter. Vivaldi Capital Management LP's holdings in Meta Platforms were worth $2,573,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ballentine Partners LLC raised its holdings in Meta Platforms by 1.4% during the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock worth $34,087,000 after purchasing an additional 808 shares during the last quarter. UMB Bank n.a. increased its position in shares of Meta Platforms by 0.6% in the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock valued at $82,314,000 after buying an additional 897 shares in the last quarter. Suvretta Capital Management LLC raised its stake in shares of Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after buying an additional 1,850 shares during the last quarter. Skye Global Management LP boosted its position in shares of Meta Platforms by 130.9% in the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after buying an additional 43,200 shares in the last quarter. Finally, Brueske Advisory Services LLC acquired a new stake in Meta Platforms in the 4th quarter valued at about $459,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Analysts Set New Price Targets

META has been the subject of a number of research reports. Roth Capital lifted their target price on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. BMO Capital Markets lifted their price objective on Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. KeyCorp increased their target price on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Jefferies Financial Group cut their price target on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms 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 given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $701.05.

Meta Platforms Stock Down 0.5%

Meta Platforms stock traded down $3.33 during midday trading on Tuesday, hitting $637.10. 6,716,460 shares of the stock were exchanged, compared to its average volume of 14,506,492. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year 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. The firm has a market cap of $1.60 trillion, a P/E ratio of 26.63, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a 50 day moving average price of $572.72 and a two-hundred day moving average price of $607.81.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly 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. 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 company's revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.71 earnings per share. On average, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In related news, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer now directly owns 70,040 shares of the company's stock, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was 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 approximately $2,744,547.96. This represents a 9.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 98,837 shares of company stock valued at $64,758,661 in the last three months. Corporate insiders own 13.71% of the company's stock.

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.