Soma Equity Partners LP Trims Stake in Meta Platforms, Inc. (NASDAQ:META)

Soma Equity Partners LP lowered its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 18.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 80,078 shares of the social networking company's stock after selling 17,949 shares during the quarter. Meta Platforms comprises approximately 2.6% of Soma Equity Partners LP's portfolio, making the stock its 16th largest holding. Soma Equity Partners LP's holdings in Meta Platforms were worth $46,886,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Ballentine Partners LLC lifted its position in Meta Platforms by 1.4% in the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock worth $34,087,000 after buying an additional 808 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Meta Platforms by 0.6% in the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock worth $82,314,000 after acquiring an additional 897 shares during the last quarter. Brueske Advisory Services LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at $459,000. Apollon Financial LLC grew its holdings in shares of Meta Platforms by 11.1% during the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock valued at $866,000 after purchasing an additional 148 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its position in Meta Platforms by 255.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after purchasing an additional 1,229,350 shares during the period. Institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

META has been the subject of several analyst reports. Moffett Nathanson upped their price target on shares of Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. 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 report on Thursday, May 1st. JMP Securities restated a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a research report on Wednesday, April 30th. Stifel Nicolaus boosted their price objective on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Rosenblatt Securities increased their price objective on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. One equities 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $696.45.

Meta Platforms Trading Down 2.3%

NASDAQ:META opened at $643.88 on Friday. The company has a 50 day simple moving average of $570.68 and a two-hundred day simple moving average of $606.39. The company has a market cap of $1.63 trillion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. 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, 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 data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion during 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%. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.71 earnings per share. Research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 406 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $491.69, for a total value of $199,626.14. Following the transaction, the chief operating officer now directly owns 4,608 shares of the company's stock, valued at approximately $2,265,707.52. This trade represents a 8.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 19,668 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $703.21, for a total value of $13,830,734.28. The disclosure for this sale can be found here. Insiders have sold 81,171 shares of company stock worth $55,161,016 in the last quarter. Company insiders own 13.71% of the company's stock.

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.

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