Panoramic Capital LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,478 shares of the social networking company's stock, valued at approximately $9,648,000. Meta Platforms comprises 5.2% of Panoramic Capital LLC's investment portfolio, making the stock its largest holding.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valley Financial Group Inc. raised its stake in Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after buying an additional 14 shares during the last quarter. Seelaus Asset Management LLC raised its stake in Meta Platforms by 0.9% in the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after buying an additional 15 shares during the last quarter. Meredith Wealth Planning raised its stake in Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after buying an additional 15 shares during the last quarter. Maiden Cove Capital LLC raised its stake in Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after buying an additional 15 shares during the last quarter. Finally, Riverwater Partners LLC raised its stake in Meta Platforms by 2.7% in the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock valued at $335,000 after buying an additional 15 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have commented on META. Susquehanna decreased their price target on Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Loop Capital increased their price objective on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a report on Friday. Evercore ISI increased their price objective on Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. The Goldman Sachs Group increased their price objective on Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. increased their price objective on Meta Platforms from $610.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $701.05.
View Our Latest Report on META
Insider Buying and Selling
In related news, insider Jennifer Newstead sold 921 shares of the business's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $491.87, for a total transaction of $453,012.27. Following the completion of the transaction, the insider now directly owns 27,498 shares of the company's stock, valued at $13,525,441.26. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 4,706 shares of the business's stock in a transaction on 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 transaction, the chief operating officer now directly owns 20,935 shares of the company's stock, valued at $15,422,186.45. The trade was a 18.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,171 shares of company stock valued at $55,161,016 in the last three months. 13.71% of the stock is owned by corporate insiders.
Meta Platforms Trading Down 0.5%
Shares of META stock traded down $3.54 on Friday, hitting $640.34. The stock had a trading volume of 18,351,566 shares, compared to its average volume of 14,531,362. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market capitalization of $1.62 trillion, a P/E ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The company's 50 day moving average price is $570.68 and its 200-day moving average price is $606.39.
Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping 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 analysts' expectations of $41.45 billion. During the same period in the previous year, the firm posted $4.71 EPS. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
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 Articles
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
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
