Parkwood LLC Has $15.21 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Parkwood LLC grew its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,984 shares of the social networking company's stock after acquiring an additional 661 shares during the quarter. Meta Platforms accounts for about 1.7% of Parkwood LLC's holdings, making the stock its 13th largest position. Parkwood LLC's holdings in Meta Platforms were worth $15,214,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the 4th quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms during the fourth quarter worth $45,000. Cordant Inc. bought a new stake in shares of Meta Platforms during the fourth quarter worth $59,000. Finally, Conquis Financial LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth $59,000. Institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on META. Raymond James dropped their target price on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research report on Thursday, May 1st. UBS Group boosted their target price on Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Arete Research upgraded Meta Platforms to a "hold" rating in a research report on Friday, January 24th. Guggenheim boosted their target price on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald boosted their target price on Meta Platforms from $624.00 to $676.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $701.05.

Meta Platforms Stock Performance

Shares of NASDAQ META traded down $3.54 during trading hours on Friday, reaching $640.34. 18,351,566 shares of the stock were exchanged, compared to its average volume of 14,531,362. The firm has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The stock's fifty day simple moving average is $570.68 and its 200 day simple moving average is $606.39.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.71 earnings per share. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 5,060 shares of the firm's stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the sale, the chief technology officer now owns 5,139 shares of the company's stock, valued at $3,785,747.13. This trade represents a 49.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 907 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $645.77, for a total value of $585,713.39. Following the transaction, the insider now directly owns 24,749 shares of the company's stock, valued at approximately $15,982,161.73. This represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 81,171 shares of company stock valued at $55,161,016 over the last 90 days. 13.71% of the stock is owned by corporate insiders.

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.