Pine Valley Investments Ltd Liability Co boosted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,516 shares of the social networking company's stock after buying an additional 3,362 shares during the quarter. Meta Platforms makes up about 0.6% of Pine Valley Investments Ltd Liability Co's holdings, making the stock its 28th biggest position. Pine Valley Investments Ltd Liability Co's holdings in Meta Platforms were worth $9,032,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Donoghue Forlines LLC raised its holdings in shares of Meta Platforms by 94.4% during the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company's stock valued at $2,955,000 after purchasing an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Meta Platforms by 7.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company's stock valued at $159,841,000 after purchasing an additional 32,423 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in shares of Meta Platforms by 400.0% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company's stock valued at $885,000 after purchasing an additional 2,000 shares in the last quarter. Bank of Stockton raised its holdings in shares of Meta Platforms by 9.2% during the 4th quarter. Bank of Stockton now owns 4,743 shares of the social networking company's stock valued at $1,819,000 after purchasing an additional 400 shares in the last quarter. Finally, Signify Wealth bought a new position in shares of Meta Platforms during the 4th quarter valued at $228,000. Institutional investors own 79.91% of the company's stock.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business's stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total value of $423,150.85. Following the transaction, the insider now directly owns 43,275 shares in the company, valued at $20,234,091.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business's stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total value of $423,150.85. Following the completion of the transaction, the insider now directly owns 43,275 shares of the company's stock, valued at $20,234,091.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 490 shares of the business's stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $517.75, for a total transaction of $253,697.50. Following the completion of the transaction, the chief operating officer now directly owns 7,579 shares of the company's stock, valued at $3,924,027.25. The disclosure for this sale can be found here. Insiders have sold a total of 809,054 shares of company stock worth $401,166,117 over the last ninety days. Corporate insiders own 13.71% of the company's stock.
Analysts Set New Price Targets
META has been the topic of a number of recent research reports. Sanford C. Bernstein cut their price target on shares of Meta Platforms from $590.00 to $565.00 and set an "outperform" rating on the stock in a report on Thursday, April 25th. Guggenheim dropped their target price on shares of Meta Platforms from $520.00 to $500.00 and set a "buy" rating on the stock in a report on Thursday, April 25th. JMP Securities reiterated a "market outperform" rating and issued a $550.00 target price on shares of Meta Platforms in a report on Monday, April 22nd. Canaccord Genuity Group dropped their target price on shares of Meta Platforms from $610.00 to $575.00 and set a "buy" rating on the stock in a report on Thursday, April 25th. Finally, Robert W. Baird dropped their target price on shares of Meta Platforms from $525.00 to $500.00 and set an "outperform" rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $509.80.
Check Out Our Latest Report on Meta Platforms
Meta Platforms Price Performance
NASDAQ:META traded up $12.44 on Monday, reaching $478.22. The stock had a trading volume of 12,024,200 shares, compared to its average volume of 17,476,807. The company has a market capitalization of $1.21 trillion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 1.24 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $249.17 and a 1-year high of $531.49. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $483.69 and a 200-day moving average price of $427.88.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts' consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Research analysts forecast that Meta Platforms, Inc. will post 20.18 EPS for the current year.
Meta Platforms Profile
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Free Report)
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.
Further Reading
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