Thornburg Investment Management Inc. trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 308,027 shares of the social networking company's stock after selling 9,783 shares during the quarter. Meta Platforms makes up about 1.6% of Thornburg Investment Management Inc.'s investment portfolio, making the stock its 18th largest holding. Thornburg Investment Management Inc.'s holdings in Meta Platforms were worth $109,029,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Stone House Investment Management LLC grew its holdings in Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company's stock valued at $26,000 after buying an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company's stock valued at $31,000 after purchasing an additional 42 shares during the period. PayPay Securities Corp grew its position in Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company's stock worth $33,000 after purchasing an additional 43 shares during the last quarter. Cranbrook Wealth Management LLC increased its holdings in shares of Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company's stock worth $36,000 after purchasing an additional 45 shares during the period. Finally, Gilfoyle & Co LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $39,000. Institutional investors own 79.91% of the company's stock.
Meta Platforms Stock Performance
META traded up $3.84 on Tuesday, reaching $471.85. The company had a trading volume of 10,468,805 shares, compared to its average volume of 17,927,830. The stock has a market cap of $1.20 trillion, a P/E ratio of 27.10, a P/E/G ratio of 1.24 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a fifty-two week low of $235.33 and a fifty-two week high of $531.49. The company's fifty day moving average is $488.38 and its 200 day moving average is $416.55.
Meta Platforms (NASDAQ:META - Get Free Report) last posted 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. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, analysts predict that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts recently issued reports on META shares. UBS Group lowered their price target on Meta Platforms from $610.00 to $575.00 and set a "buy" rating on the stock in a research note on Thursday, April 25th. JMP Securities reiterated a "market outperform" rating and issued a $550.00 price objective on shares of Meta Platforms in a research report on Monday, April 22nd. Roth Mkm raised their target price on Meta Platforms from $500.00 to $510.00 and gave the company a "buy" rating in a research note on Thursday, April 25th. Stifel Nicolaus raised their price objective on shares of Meta Platforms from $527.00 to $588.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. Finally, Benchmark reissued a "hold" rating on shares of Meta Platforms in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $509.80.
Get Our Latest Report on Meta Platforms
Insider Transactions at Meta Platforms
In related news, insider Jennifer Newstead sold 576 shares of the company's stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $466.33, for a total value of $268,606.08. Following the transaction, the insider now directly owns 36,067 shares in the company, valued at $16,819,124.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Mark Zuckerberg sold 97,093 shares of the company's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $466.08, for a total transaction of $45,253,105.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 576 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $466.33, for a total transaction of $268,606.08. Following the sale, the insider now owns 36,067 shares in the company, valued at $16,819,124.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,092,501 shares of company stock valued at $535,778,532. 13.71% of the stock is currently owned by corporate insiders.
About Meta Platforms
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).
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.
Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
