Hantz Financial Services Inc. Makes New $18.95 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Hantz Financial Services Inc. purchased a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,577 shares of the social networking company's stock, valued at approximately $18,947,000.

Other large investors have also modified their holdings of the company. Quest Partners LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $32,000. Clear Investment Research LLC lifted its stake in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company's stock valued at $33,000 after buying an additional 74 shares during the period. Delos Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company's stock valued at $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms during the second quarter valued at approximately $38,000. Finally, Ruedi Wealth Management Inc. lifted its stake in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company's stock valued at $40,000 after buying an additional 44 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of META traded up $3.09 during mid-day trading on Friday, hitting $521.31. The company's stock had a trading volume of 9,157,541 shares, compared to its average volume of 13,556,576. The firm has a 50-day moving average price of $504.85 and a 200 day moving average price of $492.97. The stock has a market capitalization of $1.32 trillion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analysts' expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business's revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.23 EPS. On average, research analysts predict that Meta Platforms, Inc. will post 21.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on META. The Goldman Sachs Group upped their price objective on shares of Meta Platforms from $522.00 to $555.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. TD Securities increased their price target on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Susquehanna increased their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a "positive" rating in a research note on Thursday, August 1st. Robert W. Baird increased their price target on shares of Meta Platforms from $500.00 to $530.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. Finally, Tigress Financial increased their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a "strong-buy" rating in a research note on Friday, August 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-two 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 currently has an average rating of "Moderate Buy" and an average target price of $574.41.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,011 shares of the business's stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the sale, the chief executive officer now owns 318,932 shares in the company, valued at $159,759,417.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CTO Andrew Bosworth sold 5,057 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the sale, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 2,011 shares of the company's stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the transaction, the chief executive officer now owns 318,932 shares in the company, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Insiders have sold 388,078 shares of company stock valued at $200,792,168 in the last quarter. Insiders own 13.71% of the company's stock.

About Meta Platforms

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.