Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Stonebridge Financial Planning Group LLC

Stonebridge Financial Planning Group LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 18.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,149 shares of the social networking company’s stock after purchasing an additional 183 shares during the period. Stonebridge Financial Planning Group LLC’s holdings in Meta Platforms were worth $673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $19,949,512,000. Proficio Capital Partners LLC increased its stake in shares of 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. Raymond James Financial Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $2,243,603,000. Northern Trust Corp increased its stake in shares of Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Meta Platforms by 27.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company’s stock worth $5,211,967,000 after purchasing an additional 1,892,509 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, February 24th. The shares were sold at an average price of $686.28, for a total transaction of $417,258.24. Following the transaction, the chief operating officer now owns 9,270 shares in the company, valued at approximately $6,361,815.60. The trade was a 6.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert M. Kimmitt sold 475 shares of Meta Platforms stock in a transaction on Monday, May 19th. The shares were sold at an average price of $628.25, for a total transaction of $298,418.75. Following the transaction, the director now owns 10,272 shares in the company, valued at $6,453,384. The trade was a 4.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,157 shares of company stock worth $49,411,000. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Up 0.2%

Shares of META opened at $636.57 on Friday. 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 firm has a market cap of $1.60 trillion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company’s fifty day moving average is $573.91 and its two-hundred day moving average is $608.53. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The business 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 quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.71 EPS. Analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Jefferies Financial Group dropped their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a research note on Monday, April 7th. KeyCorp raised their price objective on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Benchmark lowered their target price on shares of Meta Platforms from $820.00 to $640.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, Cantor Fitzgerald lifted their target price 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $701.05.

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.