Point72 Hong Kong Ltd Purchases Shares of 3,781 Meta Platforms, Inc. (NASDAQ:META)

Point72 Hong Kong Ltd purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,781 shares of the social networking company’s stock, valued at approximately $2,214,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of META. Regent Peak Wealth Advisors LLC raised its position in Meta Platforms by 5.8% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company’s stock valued at $2,939,000 after purchasing an additional 277 shares during the last quarter. RMR Wealth Builders grew its holdings in shares of Meta Platforms by 4.9% during the 4th quarter. RMR Wealth Builders now owns 11,830 shares of the social networking company’s stock worth $6,927,000 after acquiring an additional 556 shares during the period. Fjell Capital LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $1,836,000. Ignite Planners LLC grew its holdings in shares of Meta Platforms by 1.3% during the 4th quarter. Ignite Planners LLC now owns 7,650 shares of the social networking company’s stock worth $4,625,000 after acquiring an additional 98 shares during the period. Finally, Sharper & Granite LLC grew its holdings in shares of Meta Platforms by 3.3% during the 4th quarter. Sharper & Granite LLC now owns 2,379 shares of the social networking company’s stock worth $1,393,000 after acquiring an additional 76 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on META. Morgan Stanley upped their target price on Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Barclays reduced their target price on Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Pivotal Research reduced their target price on Meta Platforms from $875.00 to $830.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. DA Davidson cut their price target on Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Mizuho upped their price target on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $696.45.

Meta Platforms Price Performance

NASDAQ:META opened at $643.88 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 business’s 50-day simple moving average is $570.68 and its two-hundred day simple moving average is $606.39. The stock has a market cap of $1.63 trillion, a PE ratio of 26.92, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The firm 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 business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.71 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Activity

In other news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was 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 owns 308,686 shares in the company, valued at $209,199,589.06. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 19,668 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $703.21, for a total value of $13,830,734.28. The disclosure for this sale can be found here. Insiders sold a total of 81,171 shares of company stock worth $55,161,016 over the last 90 days. Corporate insiders own 13.71% of the company’s stock.

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.