Meta Platforms, Inc. (NASDAQ:META) Holdings Increased by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 644,543 shares of the social networking company’s stock after purchasing an additional 4,220 shares during the period. Meta Platforms comprises approximately 3.1% of Zurich Insurance Group Ltd FI’s holdings, making the stock its 6th largest holding. Zurich Insurance Group Ltd FI’s holdings in Meta Platforms were worth $377,386,000 as of its most recent SEC filing.

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

Meta Platforms Stock Up 0.0%

Shares of Meta Platforms stock opened at $640.43 on Tuesday. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. 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 stock has a market cap of $1.61 trillion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The business has a fifty day simple moving average of $571.79 and a 200 day simple moving average of $607.61.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. During the same period in the previous year, the firm earned $4.71 earnings per share. The company’s revenue was up 16.1% on a year-over-year basis. Research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on META shares. DA Davidson cut their price objective on Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Piper Sandler increased their target price on Meta Platforms from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Raymond James reduced 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. The Goldman Sachs Group increased their target price on Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, Argus set a $775.00 target price on Meta Platforms in a report on Tuesday, February 4th. One investment 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 issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $701.05.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 519 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.72, for a total transaction of $330,457.68. Following the completion of the transaction, the insider now directly owns 31,259 shares of the company’s stock, valued at $19,903,230.48. This represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 19,668 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was 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. Over the last ninety days, insiders sold 98,837 shares of company stock valued at $64,758,661. 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.