15,983 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) in the 4th quarter, Holdings Channel.com reports. The firm purchased 15,983 shares of the social networking company’s stock, valued at approximately $1,923,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mount Vernon Associates Inc. MD bought a new position in shares of Meta Platforms in the 4th quarter worth $1,732,000. Eagle Ridge Investment Management acquired a new stake in Meta Platforms during the fourth quarter worth $11,051,000. Courier Capital LLC acquired a new stake in Meta Platforms in the 4th quarter valued at about $377,000. Meredith Wealth Planning purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $222,000. Finally, Sterneck Capital Management LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $1,203,000. 60.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $230.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, April 27th. TD Cowen lifted their target price on shares of Meta Platforms from $195.00 to $220.00 and gave the company a “market perform” rating in a report on Thursday, April 27th. Wells Fargo & Company raised their price target on shares of Meta Platforms from $250.00 to $280.00 in a research report on Thursday, March 16th. Truist Financial raised their target price on Meta Platforms from $230.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, April 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Meta Platforms from $260.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 27th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $245.87.

Meta Platforms Stock Up 2.2 %

META traded up $5.57 during trading on Friday, hitting $258.26. The company had a trading volume of 5,431,653 shares, compared to its average volume of 28,458,984. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.08. Meta Platforms, Inc. has a one year low of $88.09 and a one year high of $258.33. The firm’s 50-day moving average price is $222.84 and its 200 day moving average price is $169.95. The company has a market capitalization of $661.85 billion, a PE ratio of 31.35, a PEG ratio of 0.94 and a beta of 1.20.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 10,643 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $233.81, for a total value of $2,488,439.83. Following the completion of the transaction, the chief financial officer now directly owns 73,958 shares in the company, valued at approximately $17,292,119.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 722 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $247.06, for a total value of $178,377.32. Following the completion of the transaction, the insider now directly owns 38,088 shares in the company, valued at $9,410,021.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Susan J. Li sold 10,643 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $233.81, for a total transaction of $2,488,439.83. Following the completion of the transaction, the chief financial officer now owns 73,958 shares of the company’s stock, valued at $17,292,119.98. The disclosure for this sale can be found here. Insiders sold 37,762 shares of company stock valued at $8,749,860 in the last quarter. Company insiders own 13.75% of the company’s stock.

About Meta Platforms

(Get Rating)

Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.