Sykon Capital LLC Sells 66 Shares of Meta Platforms, Inc. (NASDAQ:META)

Sykon Capital LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,250 shares of the social networking company’s stock after selling 66 shares during the period. Sykon Capital LLC’s holdings in Meta Platforms were worth $1,858,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of META. FMR LLC grew its holdings in shares of Meta Platforms by 4.0% in the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after purchasing an additional 5,001,647 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Meta Platforms by 11,154.4% during the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after acquiring an additional 4,908,251 shares during the last quarter. Concentrum Wealth Management grew its stake in shares of Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Meta Platforms by 55.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,632,631 shares of the social networking company’s stock valued at $2,591,602,000 after purchasing an additional 3,093,715 shares during the period. Finally, Cerity Partners LLC raised its position in Meta Platforms by 1,457.5% during the 4th quarter. Cerity Partners LLC now owns 3,156,360 shares of the social networking company’s stock valued at $1,117,225,000 after purchasing an additional 2,953,704 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Trading Up 2.3 %

Shares of Meta Platforms stock traded up $10.28 on Friday, reaching $451.96. The company had a trading volume of 16,489,057 shares, compared to its average volume of 20,698,000. The firm has a market cap of $1.15 trillion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.15 and a beta of 1.21. The firm’s 50-day moving average price is $490.72 and its two-hundred day moving average price is $408.34. Meta Platforms, Inc. has a 1 year low of $229.85 and a 1 year high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

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

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at approximately $39,015,070.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 552 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $464.00, for a total value of $256,128.00. Following the completion of the transaction, the insider now owns 34,168 shares of the company’s stock, valued at $15,853,952. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the transaction, the chief operating officer now owns 79,944 shares in the company, valued at approximately $39,015,070.32. The disclosure for this sale can be found here. Insiders sold 1,257,876 shares of company stock worth $613,168,252 in the last 90 days. 13.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on META. Morgan Stanley upped their target price on Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. UBS Group reduced their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Canaccord Genuity Group lowered their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Roth Mkm upped their target price on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Truist Financial lowered their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $509.80.

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.