Meta Platforms, Inc. (NASDAQ:META) Position Increased by Noked Israel Ltd

Noked Israel Ltd raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 31.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,200 shares of the social networking company's stock after buying an additional 16,950 shares during the quarter. Meta Platforms comprises about 8.2% of Noked Israel Ltd's investment portfolio, making the stock its 5th biggest holding. Noked Israel Ltd's holdings in Meta Platforms were worth $41,688,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

Several research analysts have commented on META shares. Mizuho raised their price objective on Meta Platforms from $675.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. TD Securities dropped their target price on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Citigroup increased their target price on Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Evercore ISI increased their target price on Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $740.00 price objective on shares of Meta Platforms 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 assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

Meta Platforms Stock Performance

Shares of NASDAQ META traded down $3.54 during trading on Friday, reaching $640.34. 18,351,566 shares of the company traded hands, compared to its average volume of 14,531,362. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The firm's fifty day simple moving average is $570.68 and its 200 day simple moving average is $606.39. The stock has a market cap of $1.62 trillion, a P/E ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24.

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

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction dated Saturday, February 15th. The stock was 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 in the company, valued at approximately $15,422,186.45. The trade was a 18.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 907 shares of Meta Platforms stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $645.77, for a total value of $585,713.39. Following the completion of the sale, the insider now owns 24,749 shares in the company, valued at approximately $15,982,161.73. The trade was a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,171 shares of company stock worth $55,161,016 in the last 90 days. 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.