Point72 Asia Singapore Pte. Ltd. Has $6.93 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Point72 Asia Singapore Pte. Ltd. lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 74.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,836 shares of the social networking company’s stock after selling 33,868 shares during the quarter. Meta Platforms makes up approximately 1.8% of Point72 Asia Singapore Pte. Ltd.’s investment portfolio, making the stock its 9th largest position. Point72 Asia Singapore Pte. Ltd.’s holdings in Meta Platforms were worth $6,930,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Millstone Evans Group LLC acquired a new position in Meta Platforms during the fourth quarter worth $40,000. WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms in the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms during the 4th quarter worth about $45,000. Cordant Inc. bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $59,000. Finally, Conquis Financial LLC bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $59,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $659.36 on Thursday. 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, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The stock has a market capitalization of $1.67 trillion, a P/E ratio of 27.57, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The stock has a fifty day moving average of $569.76 and a 200-day moving average of $605.94.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.71 earnings per share. On average, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on META. Citigroup boosted their price target on Meta Platforms from $655.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Piper Sandler lifted their target price on Meta Platforms from $610.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Tigress Financial restated a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. JMP Securities reaffirmed a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a report on Wednesday, April 30th. Finally, Stifel Nicolaus upped their price objective on shares of Meta Platforms from $628.00 to $655.00 and gave the company a “buy” rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $696.45.

Insider Activity at Meta Platforms

In other news, insider Christopher K. Cox sold 20,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the completion of the transaction, the insider now directly owns 308,686 shares in the company, valued at approximately $209,199,589.06. This represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 5,060 shares of the firm’s stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,727,550.20. Following the sale, the chief technology officer now directly owns 5,139 shares in the company, valued at approximately $3,785,747.13. This trade represents a 49.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,932 shares of company stock valued at $69,021,252. 13.71% of the stock is owned by insiders.

Meta Platforms 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.