PharVision Advisers LLC Buys New Position in Meta Platforms, Inc. (NASDAQ:META)

PharVision Advisers LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,490 shares of the social networking company’s stock, valued at approximately $872,000. Meta Platforms makes up 0.7% of PharVision Advisers LLC’s portfolio, making the stock its 7th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms during the 4th quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms during the fourth quarter valued at about $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms in the fourth quarter worth about $47,000. Finally, Conquis Financial LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth approximately $59,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Down 0.5%

Shares of Meta Platforms stock opened at $637.10 on Wednesday. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The stock has a market capitalization of $1.60 trillion, a P/E ratio of 26.63, a PEG ratio of 1.42 and a beta of 1.24. 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 50 day moving average price of $572.72 and a two-hundred day moving average price of $607.81.

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

Insider Activity

In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $677.71, for a total value of $13,554,200.00. Following the completion of the sale, the insider now directly owns 308,686 shares of the company’s stock, valued at $209,199,589.06. This represents a 6.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’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 sale, the chief technology officer now owns 16,463 shares in the company, valued at $10,855,043.68. This represents a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,169 shares of company stock valued at $50,927,926. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on META shares. Susquehanna reduced their price target on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. BMO Capital Markets increased their target price on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Robert W. Baird lifted their price target on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Barclays dropped their price target on Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Finally, Arete Research upgraded Meta Platforms to a “hold” rating in a research report on Friday, January 24th. One 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 given a strong buy rating to the company. 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.