Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Point72 Europe London LLP

Point72 Europe London LLP increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1,563.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,295 shares of the social networking company's stock after buying an additional 66,069 shares during the period. Meta Platforms comprises 2.4% of Point72 Europe London LLP's investment portfolio, making the stock its 10th largest holding. Point72 Europe London LLP's holdings in Meta Platforms were worth $41,158,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in META. Millstone Evans Group LLC purchased a new position in Meta Platforms in the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms in the fourth quarter worth $45,000. Cordant Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter valued at about $59,000. Finally, Conquis Financial LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at approximately $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Barclays cut their price objective on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. DA Davidson lowered their price target on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. Piper Sandler upped their price objective on shares of Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Loop Capital lowered their target price on shares of Meta Platforms from $900.00 to $695.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Finally, Cantor Fitzgerald boosted their price target on Meta Platforms from $624.00 to $676.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $696.45.

Meta Platforms Stock Performance

NASDAQ META opened at $659.36 on Thursday. The company has a market capitalization of $1.67 trillion, a PE ratio of 27.57, a price-to-earnings-growth 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, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The company has a 50-day simple moving average of $569.76 and a 200 day simple moving average of $605.94.

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 for the quarter, topping the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.71 EPS. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Insider Activity

In other news, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $491.69, for a total value of $199,626.14. Following the transaction, the chief operating officer now owns 4,608 shares in the company, valued at approximately $2,265,707.52. The trade was a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 5,060 shares of the company's stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the sale, the chief technology officer now owns 5,139 shares of the company's stock, valued at $3,785,747.13. This represents a 49.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 99,932 shares of company stock worth $69,021,252 over the last ninety days. Company insiders own 13.71% of the company's stock.

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.

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