Quantinno Capital Management LP Has $215.76 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Quantinno Capital Management LP boosted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 25.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 368,499 shares of the social networking company's stock after purchasing an additional 73,907 shares during the period. Meta Platforms comprises approximately 2.1% of Quantinno Capital Management LP's holdings, making the stock its 5th largest position. Quantinno Capital Management LP's holdings in Meta Platforms were worth $215,760,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $45,000. Cordant Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $59,000. Finally, Conquis Financial LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $59,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Down 0.5%

Shares of NASDAQ:META traded down $3.54 during mid-day trading on Friday, hitting $640.34. 18,351,566 shares of the company traded hands, compared to its average volume of 14,531,362. The firm has a market cap of $1.62 trillion, a P/E ratio of 26.77, a PEG 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 firm's 50 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 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company's revenue was up 16.1% on a year-over-year basis. During the same period last year, the business posted $4.71 EPS. On average, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the sale, the chief operating officer now directly owns 20,935 shares in the company, valued at $15,422,186.45. The trade was a 18.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $736.07, for a total value of $677,920.47. Following the sale, the insider now owns 35,787 shares in the company, valued at $26,341,737.09. This represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,171 shares of company stock worth $55,161,016. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on META shares. Susquehanna dropped their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Tigress Financial reissued a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. BMO Capital Markets raised their price objective on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a research note on Thursday, January 30th. Jefferies Financial Group lowered their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Needham & Company LLC reaffirmed an "underperform" rating on shares of Meta Platforms in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued 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, Meta Platforms presently has an average rating of "Moderate Buy" and an average target price of $701.05.

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.