Sentinus LLC Sells 82,094 Shares of Meta Platforms, Inc. (NASDAQ:META)

Sentinus LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 97.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,771 shares of the social networking company's stock after selling 82,094 shares during the quarter. Sentinus LLC's holdings in Meta Platforms were worth $1,037,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Meta Platforms by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company's stock worth $8,344,552,000 after purchasing an additional 424,201 shares in the last quarter. Fisher Asset Management LLC increased its position in Meta Platforms by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock worth $3,908,382,000 after purchasing an additional 110,040 shares in the last quarter. Amundi increased its position in Meta Platforms by 14.6% during the 4th quarter. Amundi now owns 6,262,991 shares of the social networking company's stock worth $3,824,934,000 after purchasing an additional 795,570 shares in the last quarter. Proficio Capital Partners LLC increased its position in Meta Platforms by 78,471.1% during the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after purchasing an additional 6,240,810 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Meta Platforms during the 4th quarter worth approximately $2,243,603,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 3,523 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $701.10, for a total value of $2,469,975.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 907 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $645.77, for a total transaction of $585,713.39. Following the completion of the sale, the insider now directly owns 24,749 shares of the company's stock, valued at $15,982,161.73. This trade represents a 3.54% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,852 shares of company stock worth $41,665,958. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Down 0.5%

NASDAQ META traded down $3.54 on Friday, hitting $640.34. 18,351,566 shares of the company were exchanged, compared to its average volume of 14,546,315. The company has a market cap of $1.61 trillion, a PE ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The stock has a fifty day moving average of $571.37 and a 200-day moving average of $606.82. 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 for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $41.45 billion. During the same period last year, the firm earned $4.71 earnings per share. The business's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on META. Roth Capital upped their price objective on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Barclays decreased their price target on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Pivotal Research decreased their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Benchmark decreased their price target on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Piper Sandler upped their price target on shares of Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a research 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 assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $701.05.

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.