Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 27.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,606 shares of the social networking company's stock after selling 1,753 shares during the quarter. Meta Platforms makes up 0.6% of Legacy Capital Group California Inc.'s investment portfolio, making the stock its 25th biggest holding. Legacy Capital Group California Inc.'s holdings in Meta Platforms were worth $1,630,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stone House Investment Management LLC increased its position 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 acquiring an additional 75 shares during the period. Beaird Harris Wealth Management LLC raised its position in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company's stock worth $31,000 after buying an additional 42 shares during the last quarter. PayPay Securities Corp boosted its holdings in shares of Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company's stock valued at $33,000 after acquiring an additional 43 shares in the last quarter. Cranbrook Wealth Management LLC increased its stake in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company's stock worth $36,000 after acquiring an additional 45 shares during the period. Finally, Gilfoyle & Co LLC purchased a new position in Meta Platforms during the fourth quarter worth about $39,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Down 1.7 %

Shares of NASDAQ META traded down $8.31 during trading on Thursday, reaching $473.23. 16,592,514 shares of the stock were exchanged, compared to its average volume of 17,863,033. The business's 50-day moving average price is $487.72 and its 200 day moving average price is $418.23. The company has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 1.22 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $238.14 and a twelve month high of $531.49. 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 posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $36.28 billion. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 490 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at approximately $39,015,070.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at $39,015,070.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $469.88, for a total value of $274,879.80. Following the sale, the insider now owns 42,493 shares in the company, valued at approximately $19,966,610.84. The disclosure for this sale can be found here. Insiders sold a total of 1,029,530 shares of company stock worth $506,099,106 in the last 90 days. 13.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Guggenheim dropped their price objective on Meta Platforms from $520.00 to $500.00 and set a "buy" rating on the stock in a report on Thursday, April 25th. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a research note on Thursday, April 25th. Citigroup reduced their price target on shares of Meta Platforms from $590.00 to $550.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. Monness Crespi & Hardt raised their price objective on Meta Platforms from $370.00 to $540.00 and gave the company a "buy" rating in a research note on Friday, February 2nd. Finally, The Goldman Sachs Group lowered their target price on Meta Platforms from $555.00 to $500.00 and set a "buy" rating on the stock in a report on Thursday, April 25th. Two equities 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $509.80.

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.

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