Sora Investors LLC Decreases Position in Meta Platforms, Inc. (NASDAQ:META)

Sora Investors LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 24.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,599 shares of the social networking company’s stock after selling 7,401 shares during the quarter. Meta Platforms accounts for approximately 1.5% of Sora Investors LLC’s investment portfolio, making the stock its 29th largest position. Sora Investors LLC’s holdings in Meta Platforms were worth $13,232,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on META shares. Barclays cut their price target on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Moffett Nathanson upped their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Meta Platforms from $610.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Argus set a $775.00 price objective on Meta Platforms in a research note on Tuesday, February 4th. Finally, Wedbush lifted their target price on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $696.45.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,466,769.02. Following the sale, the chief operating officer now directly owns 20,935 shares of the company’s stock, valued at $15,422,186.45. The trade was a 18.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $736.07, for a total value of $677,920.47. Following the sale, the insider now owns 35,787 shares of the company’s stock, valued at $26,341,737.09. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,171 shares of company stock valued at $55,161,016. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Down 2.3%

Shares of NASDAQ:META opened at $643.88 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.63 trillion, a PE ratio of 26.92, a PEG ratio of 1.42 and a beta of 1.24. The business has a 50 day moving average of $570.68 and a two-hundred day moving average of $606.39. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for 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%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business earned $4.71 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

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.