Nuveen Asset Management LLC Decreases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Nuveen Asset Management LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,114,223 shares of the social networking company's stock after selling 1,961,973 shares during the period. Meta Platforms comprises 2.3% of Nuveen Asset Management LLC's portfolio, making the stock its 6th largest holding. Nuveen Asset Management LLC owned approximately 0.56% of Meta Platforms worth $8,264,019,000 at the end of the most recent quarter.

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

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 8,553 shares of the stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the sale, the chief financial officer now owns 51,793 shares in the company, valued at approximately $38,154,349.31. This represents a 14.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 4,706 shares of the firm's stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,466,769.02. Following the sale, the chief operating officer now directly owns 20,935 shares of the company's stock, valued at $15,422,186.45. This represents a 18.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,171 shares of company stock worth $55,161,016. Insiders own 13.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Mizuho upped their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Evercore ISI increased their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. The Goldman Sachs Group boosted their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Tigress Financial reiterated a "strong-buy" rating on shares of Meta Platforms in a research report on Tuesday, February 11th. One equities research 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $701.05.

Meta Platforms Stock Down 0.5%

Shares of Meta Platforms stock traded down $3.54 on Friday, reaching $640.34. 18,351,566 shares of the company were exchanged, compared to its average volume of 14,539,577. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $570.68 and a 200 day moving average of $606.39. The company has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24.

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

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.