Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Forsta AP Fonden

Forsta AP Fonden lessened its holdings in Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 4.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 471,000 shares of the social networking company’s stock after selling 20,100 shares during the period. Meta Platforms accounts for 1.2% of Forsta AP Fonden’s holdings, making the stock its 8th biggest position. Forsta AP Fonden’s holdings in Meta Platforms were worth $104,732,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. StrategIQ Financial Group LLC raised its stake in Meta Platforms by 4.2% in the 1st quarter. StrategIQ Financial Group LLC now owns 1,600 shares of the social networking company’s stock valued at $356,000 after acquiring an additional 65 shares during the period. Kestra Advisory Services LLC boosted its position in shares of Meta Platforms by 13.0% in the first quarter. Kestra Advisory Services LLC now owns 119,204 shares of the social networking company’s stock valued at $26,506,000 after acquiring an additional 13,727 shares during the period. Cabot Wealth Management Inc. boosted its position in shares of Meta Platforms by 0.6% in the first quarter. Cabot Wealth Management Inc. now owns 9,474 shares of the social networking company’s stock valued at $2,107,000 after acquiring an additional 60 shares during the period. EFG Asset Management North America Corp. bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $7,032,000. Finally, Pacer Advisors Inc. raised its stake in Meta Platforms by 149.1% in the 1st quarter. Pacer Advisors Inc. now owns 506,232 shares of the social networking company’s stock worth $112,566,000 after purchasing an additional 303,001 shares in the last quarter. Institutional investors own 65.49% of the company’s stock.

Insider Activity

In other news, insider Jennifer Newstead sold 311 shares of the stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $199.60, for a total value of $62,075.60. Following the completion of the sale, the insider now owns 12,187 shares in the company, valued at $2,432,525.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 311 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $199.60, for a total transaction of $62,075.60. Following the completion of the sale, the insider now owns 12,187 shares in the company, valued at $2,432,525.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David M. Wehner sold 1,222 shares of the firm’s stock in a transaction dated Sunday, May 15th. The stock was sold at an average price of $198.62, for a total transaction of $242,713.64. Following the sale, the chief financial officer now owns 12,247 shares of the company’s stock, valued at approximately $2,432,499.14. The disclosure for this sale can be found here. Insiders sold a total of 45,236 shares of company stock worth $8,958,728 over the last quarter. Insiders own 13.59% of the company’s stock.

Meta Platforms Trading Down 2.0 %

Meta Platforms stock opened at $167.11 on Friday. Meta Platforms, Inc. has a 1-year low of $154.25 and a 1-year high of $384.33. The firm has a market capitalization of $449.12 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 2.26 and a beta of 1.32. The firm’s fifty day moving average price is $166.98 and its two-hundred day moving average price is $182.37.

Meta Platforms (NASDAQ:METAGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The social networking company reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.04). Meta Platforms had a net margin of 28.16% and a return on equity of 26.52%. The business had revenue of $28.82 billion during the quarter, compared to the consensus estimate of $28.95 billion. During the same period last year, the business posted $3.61 earnings per share. The firm’s quarterly revenue was down .9% on a year-over-year basis. On average, research analysts forecast that Meta Platforms, Inc. will post 9.58 EPS for the current year.

Analysts Set New Price Targets

META has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on shares of Meta Platforms from $275.00 to $225.00 and set a “neutral” rating for the company in a report on Wednesday, June 29th. Guggenheim cut their price objective on shares of Meta Platforms from $275.00 to $250.00 and set a “na” rating for the company in a report on Wednesday, May 18th. Wells Fargo & Company cut their price objective on shares of Meta Platforms from $325.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Susquehanna cut their price objective on shares of Meta Platforms from $375.00 to $290.00 in a report on Thursday, April 28th. Finally, Itau BBA Securities assumed coverage on shares of Meta Platforms in a report on Tuesday, July 26th. They set a “market perform” rating and a $188.00 price target for the company. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $257.98.

Meta Platforms Profile

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Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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