Longitude Cayman Ltd. Sells 1,965 Shares of Meta Platforms, Inc. (NASDAQ:META)

Longitude Cayman Ltd. lessened its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,235 shares of the social networking company's stock after selling 1,965 shares during the quarter. Meta Platforms comprises about 1.3% of Longitude Cayman Ltd.'s holdings, making the stock its 21st largest holding. Longitude Cayman Ltd.'s holdings in Meta Platforms were worth $2,207,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Stone House Investment Management LLC raised its position in shares of 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 purchasing an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its stake 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 valued at $31,000 after acquiring an additional 42 shares during the last quarter. Cranbrook Wealth Management LLC grew its holdings in 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 acquiring an additional 45 shares in the last quarter. Gilfoyle & Co LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth about $39,000. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,058 shares of the firm's stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the transaction, the chief technology officer now directly owns 15,412 shares in the company, valued at $7,272,152.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the transaction, the chief technology officer now owns 15,412 shares of the company's stock, valued at $7,272,152.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nicholas Clegg sold 1,135 shares of the company's stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $535,549.75. Following the sale, the insider now directly owns 8,753 shares of the company's stock, valued at $4,130,103.05. The disclosure for this sale can be found here. Insiders sold 1,015,222 shares of company stock worth $499,279,869 over the last ninety days. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Down 0.3 %

META traded down $1.32 during trading on Friday, reaching $471.91. 10,807,289 shares of the stock traded hands, compared to its average volume of 20,906,852. The stock's 50-day simple moving average is $486.26 and its two-hundred day simple moving average is $420.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a fifty-two week low of $241.19 and a fifty-two week high of $531.49. The stock has a market cap of $1.20 trillion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.21.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. As a group, equities research analysts expect that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on META shares. Evercore ISI boosted their price objective on Meta Platforms from $425.00 to $550.00 and gave the company an "outperform" rating in a report on Friday, February 2nd. Oppenheimer dropped their price target on Meta Platforms from $585.00 to $500.00 and set an "outperform" rating on the stock in a research report on Thursday, April 25th. Loop Capital decreased their price objective on shares of Meta Platforms from $555.00 to $550.00 and set a "buy" rating for the company in a report on Wednesday, May 1st. Sanford C. Bernstein lowered their target price on shares of Meta Platforms from $590.00 to $565.00 and set an "outperform" rating for the company in a research note on Thursday, April 25th. Finally, BNP Paribas started coverage on shares of Meta Platforms in a research report on Thursday, May 2nd. They issued an "underperform" rating and a $360.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $509.80.

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.