26,599 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Arrowpoint Investment Partners Singapore Pte. Ltd.

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 26,599 shares of the social networking company’s stock, valued at approximately $15,574,000. Meta Platforms comprises 3.2% of Arrowpoint Investment Partners Singapore Pte. Ltd.’s investment portfolio, making the stock its 3rd largest holding.

Several other hedge funds have also recently modified their holdings of META. Regent Peak Wealth Advisors LLC increased its holdings in Meta Platforms by 5.8% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company’s stock valued at $2,939,000 after buying an additional 277 shares during the last quarter. Fjell Capital LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $1,836,000. Opulen Financial Group LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth $325,000. Daner Wealth Management LLC bought a new position in shares of Meta Platforms during the 4th quarter valued at about $334,000. Finally, Sara Bay Financial grew its holdings in Meta Platforms by 1.0% during the 4th quarter. Sara Bay Financial now owns 28,250 shares of the social networking company’s stock valued at $16,703,000 after buying an additional 287 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $637.10 on Wednesday. The stock’s 50-day moving average price is $572.72 and its 200 day moving average price is $607.81. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week 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 capitalization of $1.60 trillion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

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

Analysts Set New Price Targets

Several analysts recently weighed in on META shares. Mizuho increased their price target on Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Cantor Fitzgerald upped their price objective on shares of Meta Platforms from $624.00 to $676.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Morgan Stanley upped their price objective on Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. TD Securities decreased their price objective on Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Evercore ISI lifted their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $701.05.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 2,615 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $1,724,226.40. Following the transaction, the chief operating officer now directly owns 5,437 shares in the company, valued at approximately $3,584,940.32. This represents a 32.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 3,523 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was 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. Over the last 90 days, insiders have sold 79,169 shares of company stock valued at $50,927,926. Insiders own 13.71% of the company’s stock.

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.