GDS Wealth Management Has $6.04 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

GDS Wealth Management raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 38.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 17,055 shares of the social networking company's stock after acquiring an additional 4,693 shares during the quarter. GDS Wealth Management's holdings in Meta Platforms were worth $6,037,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC lifted its position in Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company's stock valued at $39,270,443,000 after purchasing an additional 5,001,647 shares during the last quarter. International Assets Investment Management LLC increased its position in Meta Platforms by 11,154.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company's stock valued at $1,752,900,000 after purchasing an additional 4,908,251 shares during the period. Concentrum Wealth Management grew its position in shares of Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company's stock worth $2,616,000 after buying an additional 3,888,308 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Meta Platforms by 55.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,632,631 shares of the social networking company's stock worth $2,591,602,000 after buying an additional 3,093,715 shares during the period. Finally, Cerity Partners LLC boosted its stake in Meta Platforms by 1,457.5% in the 4th quarter. Cerity Partners LLC now owns 3,156,360 shares of the social networking company's stock worth $1,117,225,000 after purchasing an additional 2,953,704 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

META has been the subject of several research analyst reports. Bank of America lifted their target price on Meta Platforms from $425.00 to $510.00 and gave the stock a "buy" rating in a research report on Friday, February 2nd. TD Cowen decreased their price target on shares of Meta Platforms from $590.00 to $530.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. Canaccord Genuity Group raised their target price on Meta Platforms from $450.00 to $540.00 and gave the stock a "buy" rating in a research note on Friday, February 2nd. Monness Crespi & Hardt raised their target price on Meta Platforms from $370.00 to $540.00 and gave the company a "buy" rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of Meta Platforms from $609.00 to $600.00 and set an "overweight" rating on the stock in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus target price of $509.80.

Meta Platforms Stock Up 0.6 %

META stock traded up $2.82 during trading on Thursday, reaching $475.42. The stock had a trading volume of 9,422,173 shares, compared to its average volume of 18,126,488. Meta Platforms, Inc. has a one year low of $230.72 and a one year high of $531.49. The company's 50 day moving average is $489.80 and its two-hundred day moving average is $412.20. The company has a market capitalization of $1.21 trillion, a price-to-earnings ratio of 27.31, a P/E/G ratio of 1.18 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 20.1 EPS for the current year.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 576 shares of Meta Platforms stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $466.33, for a total transaction of $268,606.08. Following the completion of the transaction, the insider now directly owns 36,067 shares of the company's stock, valued at approximately $16,819,124.11. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jennifer Newstead sold 576 shares of the business's stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $466.33, for a total transaction of $268,606.08. Following the completion of the sale, the insider now directly owns 36,067 shares in the company, valued at $16,819,124.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 97,093 shares of the business's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,223,992 shares of company stock valued at $597,661,462. Company insiders own 13.71% of the company's stock.

Meta Platforms Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.