Select Equity Group L.P. Has $50.76 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Select Equity Group L.P. cut its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,688 shares of the social networking company's stock after selling 10,430 shares during the period. Select Equity Group L.P.'s holdings in Meta Platforms were worth $50,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the business. Valley Financial Group Inc. grew its holdings in Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after acquiring an additional 14 shares during the period. Seelaus Asset Management LLC grew its stake in shares of Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after purchasing an additional 15 shares during the last quarter. Meredith Wealth Planning raised its holdings in shares of Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after purchasing an additional 15 shares in the last quarter. Maiden Cove Capital LLC raised its holdings in shares of Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after purchasing an additional 15 shares in the last quarter. Finally, Riverwater Partners LLC lifted its stake in Meta Platforms by 2.7% during the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock valued at $335,000 after purchasing an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on META. Loop Capital upped their price target on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a report on Friday, May 16th. DA Davidson cut their target price on Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Oppenheimer upped their target price on Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Guggenheim lifted their price target on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Jefferies Financial Group cut their price objective on Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $701.05.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $3,334,383.52. Following the completion of the sale, the chief technology officer now directly owns 16,463 shares in the company, valued at $10,855,043.68. This represents a 23.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 3,523 shares of Meta Platforms stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $701.10, for a total transaction of $2,469,975.30. The disclosure for this sale can be found here. Insiders sold a total of 79,169 shares of company stock worth $50,927,926 in the last quarter. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Down 0.9%

META stock traded down $5.47 during trading on Wednesday, hitting $631.63. The company had a trading volume of 5,057,112 shares, compared to its average volume of 14,470,986. The stock has a market cap of $1.59 trillion, a price-to-earnings ratio of 26.51, a PEG ratio of 1.42 and a beta of 1.24. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $572.72 and a 200-day moving average price of $607.81. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (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 analysts' expectations 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 business earned $4.71 earnings per share. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

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.