Kera Capital Partners Inc. Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Kera Capital Partners Inc. grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 40.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,493 shares of the social networking company’s stock after acquiring an additional 430 shares during the period. Kera Capital Partners Inc.’s holdings in Meta Platforms were worth $860,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in META. Suvretta Capital Management LLC boosted its position in shares of Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after buying an additional 1,850 shares during the period. Skye Global Management LP boosted its holdings in Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock valued at $44,616,000 after acquiring an additional 43,200 shares during the period. Brueske Advisory Services LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $459,000. Apollon Financial LLC increased its stake in Meta Platforms by 11.1% during the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock worth $866,000 after purchasing an additional 148 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its stake in Meta Platforms by 255.9% during the fourth 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. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on META. Raymond James lowered their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a research note 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. The Goldman Sachs Group upped their price objective on Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Moffett Nathanson upped their price objective on Meta Platforms from $525.00 to $605.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Loop Capital lifted their target price on Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a report on Friday, May 16th. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $701.05.

Meta Platforms Trading Up 0.2%

META opened at $643.58 on Thursday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The business’s 50 day moving average is $577.74 and its two-hundred day moving average is $610.01. The firm has a market cap of $1.62 trillion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping 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 business 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 posted $4.71 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $644.00, for a total value of $593,124.00. Following the transaction, the insider now directly owns 33,945 shares in the company, valued at approximately $21,860,580. This trade represents a 2.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $673.96, for a total value of $409,767.68. Following the completion of the transaction, the chief operating officer now owns 8,662 shares in the company, valued at $5,837,841.52. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,628 shares of company stock worth $34,826,386. 13.61% of the stock is owned by company insiders.

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.