PKO Investment Management Joint Stock Co Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

PKO Investment Management Joint Stock Co purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,000 shares of the social networking company’s stock, valued at approximately $6,441,000. Meta Platforms accounts for about 0.8% of PKO Investment Management Joint Stock Co’s investment portfolio, making the stock its 25th largest holding.

A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $19,949,512,000. Proficio Capital Partners LLC raised its stake in Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock valued at $3,658,713,000 after purchasing an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Meta Platforms during the fourth quarter valued at approximately $2,243,603,000. Northern Trust Corp lifted its position in Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock valued at $13,727,613,000 after purchasing an additional 2,787,832 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Meta Platforms in the 4th quarter worth approximately $1,162,918,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $644.00, for a total transaction of $593,124.00. Following the completion of the sale, the insider now directly owns 33,945 shares in the company, valued at $21,860,580. The trade was a 2.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the completion of the transaction, the chief operating officer now owns 5,622 shares in the company, valued at $2,744,547.96. This trade represents a 9.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,628 shares of company stock valued at $48,380,586. 13.61% of the stock is owned by insiders.

Meta Platforms Price Performance

Shares of META opened at $642.32 on Wednesday. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The company has a market capitalization of $1.62 trillion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The firm has a 50 day moving average of $576.79 and a 200 day moving average of $609.77. 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 (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.71 EPS. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

META has been the topic of several research reports. Tigress Financial restated a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. JMP Securities restated a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research report on Wednesday, April 30th. Guggenheim lifted their price target on Meta Platforms from $675.00 to $725.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Monness Crespi & Hardt increased their price objective on Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group raised their price objective on Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. One 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target 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.