Pacific Point Advisors LLC Buys Shares of 1,290 Meta Platforms, Inc. (NASDAQ:META)

Pacific Point Advisors LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,290 shares of the social networking company’s stock, valued at approximately $755,000.

A number of other hedge funds also recently bought and sold shares of META. Valley Financial Group Inc. boosted 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 worth $344,000 after acquiring an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC boosted its position in shares of Meta Platforms by 0.5% during the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock worth $1,743,000 after acquiring an additional 14 shares in the last quarter. Seelaus Asset Management LLC boosted 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 worth $960,000 after acquiring an additional 15 shares in the last quarter. Meredith Wealth Planning boosted 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 worth $1,097,000 after acquiring an additional 15 shares in the last quarter. Finally, Maiden Cove Capital LLC boosted 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 worth $282,000 after acquiring an additional 15 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the transaction, the chief technology officer now directly owns 16,463 shares in the company, valued at $10,855,043.68. This trade represents a 23.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,157 shares of company stock valued at $49,411,000 in the last quarter. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of several analyst reports. Monness Crespi & Hardt upped their price objective on Meta Platforms from $775.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Raymond James cut their target price on 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. Robert W. Baird raised their price objective on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Finally, Mizuho raised their price target on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $701.05.

Meta Platforms Stock Up 0.2%

Meta Platforms stock opened at $636.57 on Friday. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The stock 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 firm’s 50-day simple moving average is $573.91 and its 200 day simple moving average is $608.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.71 EPS. Research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

About Meta Platforms

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.