White Knight Strategic Wealth Advisors LLC Has $506,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

White Knight Strategic Wealth Advisors LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 89.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 864 shares of the social networking company's stock after acquiring an additional 408 shares during the quarter. White Knight Strategic Wealth Advisors LLC's holdings in Meta Platforms were worth $506,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth $40,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms during the 4th quarter worth $45,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Meta Platforms during the 4th quarter worth $47,000. Finally, Conquis Financial LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth $59,000. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $665.75, for a total transaction of $613,155.75. Following the sale, the insider now directly owns 34,866 shares of the company's stock, valued at $23,212,039.50. This trade represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert M. Kimmitt sold 475 shares of Meta Platforms stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $628.25, for a total value of $298,418.75. Following the sale, the director now directly owns 10,272 shares in the company, valued at approximately $6,453,384. This trade represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,157 shares of company stock worth $49,411,000. Company insiders own 13.71% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on META shares. Loop Capital raised their target price on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Jefferies Financial Group decreased their target price on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Citigroup raised their target price on Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a research report 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 report on Wednesday, April 23rd. Finally, KeyCorp raised their target price on Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $701.05.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded down $9.51 during trading on Friday, reaching $627.06. The company's stock had a trading volume of 8,442,469 shares, compared to its average volume of 14,494,704. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The business's fifty day moving average price is $574.80 and its 200-day moving average price is $609.16. The firm has a market cap of $1.58 trillion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91.

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

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.