Point72 Italy S.r.l. Lowers Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Point72 Italy S.r.l. reduced its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 49.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,800 shares of the social networking company's stock after selling 7,741 shares during the period. Meta Platforms comprises 2.5% of Point72 Italy S.r.l.'s holdings, making the stock its 14th biggest position. Point72 Italy S.r.l.'s holdings in Meta Platforms were worth $4,567,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms in the 4th quarter valued at $45,000. Cordant Inc. purchased a new stake in shares of Meta Platforms in the 4th quarter valued at $59,000. Finally, Conquis Financial LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at $59,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 0.5%

Meta Platforms stock traded down $3.54 during midday trading on Friday, hitting $640.34. 18,351,566 shares of the stock were exchanged, compared to its average volume of 14,531,362. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The stock has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24. The stock's 50-day simple moving average is $571.37 and its 200 day simple moving average is $606.72. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on META shares. Oppenheimer boosted their target price on shares of Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Tigress Financial reiterated a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. DA Davidson decreased their target price on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Piper Sandler boosted their target price on shares of Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Robert W. Baird boosted their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have given 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 presently has an average rating of "Moderate Buy" and an average target price of $701.05.

Insider Buying and Selling

In related news, COO Javier Olivan sold 4,706 shares of the firm's stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the sale, the chief operating officer now directly owns 20,935 shares in the company, valued at approximately $15,422,186.45. This trade represents a 18.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher K. Cox sold 20,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the sale, the insider now owns 308,686 shares of the company's stock, valued at approximately $209,199,589.06. The trade was a 6.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,171 shares of company stock worth $55,161,016. Insiders own 13.71% of the company's stock.

About Meta Platforms

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.