Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Evergreen Wealth Management LLC

Evergreen Wealth Management LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,204 shares of the social networking company’s stock after selling 1,412 shares during the period. Meta Platforms makes up approximately 3.2% of Evergreen Wealth Management LLC’s portfolio, making the stock its 9th largest position. Evergreen Wealth Management LLC’s holdings in Meta Platforms were worth $4,320,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in META. Stone House Investment Management LLC grew its holdings in shares of Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. Gilfoyle & Co LLC purchased a new position in Meta Platforms in the fourth quarter valued at $39,000. Cranbrook Wealth Management LLC grew its stake in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Beaird Harris Wealth Management LLC raised its position in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares in the last quarter. Finally, PayPay Securities Corp boosted its stake in shares of Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after buying an additional 43 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 2.3 %

Shares of NASDAQ META traded up $10.28 during midday trading on Friday, hitting $451.96. The stock had a trading volume of 16,489,057 shares, compared to its average volume of 20,698,000. The company has a fifty day moving average price of $490.72 and a 200 day moving average price of $408.34. The company has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.15 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $229.85 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.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. On average, analysts predict that Meta Platforms, Inc. will post 20.1 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Andrew Bosworth sold 8,036 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the sale, the chief technology officer now owns 18,432 shares in the company, valued at $8,723,496.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Jennifer Newstead sold 552 shares of Meta Platforms stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $464.00, for a total transaction of $256,128.00. Following the sale, the insider now owns 34,168 shares of the company’s stock, valued at approximately $15,853,952. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 8,036 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the transaction, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The disclosure for this sale can be found here. In the last three months, insiders sold 1,257,876 shares of company stock valued at $613,168,252. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on META. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Morgan Stanley raised their price target on Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Tigress Financial increased their price objective on Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a report on Friday, February 9th. Wells Fargo & Company lowered their price target on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $509.80.

Meta Platforms Profile

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.