Port Capital LLC Sells 19 Shares of Meta Platforms, Inc. (NASDAQ:META)

Port Capital LLC lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 535 shares of the social networking company’s stock after selling 19 shares during the quarter. Port Capital LLC’s holdings in Meta Platforms were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in Meta Platforms during the fourth quarter worth $19,949,512,000. Proficio Capital Partners LLC boosted its position in shares of Meta Platforms by 78,471.1% during the 4th 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. acquired a new stake in Meta Platforms during the fourth quarter worth approximately $2,243,603,000. Northern Trust Corp increased its holdings in Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Meta Platforms by 27.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company’s stock valued at $5,211,967,000 after buying an additional 1,892,509 shares during the period. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on META. Loop Capital lowered their price objective on shares of Meta Platforms from $900.00 to $695.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Guggenheim boosted their target price on Meta Platforms from $675.00 to $725.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Wells Fargo & Company cut their price target on Meta Platforms from $752.00 to $664.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Bank of America upped their target price on Meta Platforms from $640.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Scotiabank reduced their price target on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a research report on Monday, April 21st. One investment 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $696.45.

Meta Platforms Stock Performance

Shares of META opened at $659.36 on Thursday. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The stock’s 50-day simple moving average is $569.76 and its 200 day simple moving average is $605.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates 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 last year, the business earned $4.71 earnings per share. Research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $736.07, for a total transaction of $677,920.47. Following the completion of the sale, the insider now directly owns 35,787 shares in the company, valued at $26,341,737.09. The trade was a 2.51% decrease in their ownership of the stock. The sale 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 on Monday, May 12th. The stock was sold at an average price of $631.25, for a total transaction of $383,800.00. Following the completion of the transaction, the chief operating officer now directly owns 2,582 shares in the company, valued at $1,629,887.50. The trade was a 19.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,932 shares of company stock valued at $69,021,252. 13.71% of the stock is currently owned by company insiders.

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.