55,402 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 55,402 shares of the social networking company's stock, valued at approximately $27,935,000. Meta Platforms comprises 0.7% of Mizuho Markets Americas LLC's investment portfolio, making the stock its 26th largest holding.

A number of other hedge funds also recently modified their holdings of META. Quest Partners LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth about $32,000. Clear Investment Research LLC raised its holdings in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company's stock valued at $33,000 after acquiring an additional 74 shares during the period. Delos Wealth Advisors LLC raised its holdings in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company's stock valued at $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the second quarter worth $38,000. Finally, Ruedi Wealth Management Inc. boosted its holdings in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company's stock worth $40,000 after acquiring an additional 44 shares during the period. Institutional investors own 79.91% of the company's stock.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 4,909 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $519.17, for a total transaction of $2,548,605.53. Following the transaction, the chief executive officer now owns 519,000 shares in the company, valued at approximately $269,449,230. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $519.05, for a total value of $469,740.25. Following the completion of the sale, the insider now owns 39,627 shares of the company's stock, valued at $20,568,394.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 4,909 shares of the company's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $519.17, for a total value of $2,548,605.53. Following the sale, the chief executive officer now owns 519,000 shares of the company's stock, valued at approximately $269,449,230. The disclosure for this sale can be found here. In the last quarter, insiders sold 392,082 shares of company stock valued at $202,909,089. Corporate insiders own 13.71% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on META shares. Needham & Company LLC reissued an "underperform" rating on shares of Meta Platforms in a report on Thursday, August 1st. Raymond James increased their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a "strong-buy" rating in a report on Monday, July 1st. Loop Capital boosted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company a "buy" rating in a research note on Tuesday, August 6th. Robert W. Baird increased their target price 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, Evercore ISI raised their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus target price of $574.41.

Meta Platforms Trading Down 1.8 %

META stock traded down $9.55 on Tuesday, reaching $511.76. The company's stock had a trading volume of 12,440,470 shares, compared to its average volume of 15,968,406. The business has a fifty day simple moving average of $505.32 and a two-hundred day simple moving average of $493.64. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23. The firm has a market cap of $1.30 trillion, a PE ratio of 29.39, a PEG ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

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

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.