Cascade Investment Advisors Inc. Sells 707 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cascade Investment Advisors Inc. trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 13.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,740 shares of the social networking company’s stock after selling 707 shares during the period. Meta Platforms accounts for 1.5% of Cascade Investment Advisors Inc.’s investment portfolio, making the stock its 11th biggest position. Cascade Investment Advisors Inc.’s holdings in Meta Platforms were worth $2,302,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of META. Main Street Research LLC raised its position in shares of Meta Platforms by 8,489.0% during the 3rd quarter. Main Street Research LLC now owns 70,172 shares of the social networking company’s stock valued at $21,066,000 after buying an additional 69,355 shares in the last quarter. Regent Peak Wealth Advisors LLC raised its position in shares of Meta Platforms by 2.3% during the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 4,701 shares of the social networking company’s stock valued at $1,411,000 after buying an additional 105 shares in the last quarter. Winthrop Advisory Group LLC raised its position in shares of Meta Platforms by 1.3% during the 3rd quarter. Winthrop Advisory Group LLC now owns 4,422 shares of the social networking company’s stock valued at $1,328,000 after buying an additional 55 shares in the last quarter. Strategic Wealth Investment Group LLC raised its position in shares of Meta Platforms by 7.5% during the 3rd quarter. Strategic Wealth Investment Group LLC now owns 41,780 shares of the social networking company’s stock valued at $12,543,000 after buying an additional 2,899 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at $1,995,000. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

META has been the topic of a number of analyst reports. Mizuho lifted their target price on shares of Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. UBS Group decreased their target price 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. Evercore ISI lifted their target price on shares of Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Raymond James decreased their target price on shares of Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 25th. Finally, Wells Fargo & Company decreased their target price on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $509.80.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $480.00, for a total transaction of $280,800.00. Following the completion of the sale, the insider now directly owns 41,908 shares of the company’s stock, valued at $20,115,840. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $480.00, for a total transaction of $280,800.00. Following the completion of the sale, the insider now directly owns 41,908 shares of the company’s stock, valued at $20,115,840. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the sale, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at $39,015,070.32. The disclosure for this sale can be found here. Insiders sold 918,449 shares of company stock valued at $454,175,035 over the last three months. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META traded down $2.00 during mid-day trading on Thursday, hitting $465.78. 11,731,512 shares of the company traded hands, compared to its average volume of 17,531,096. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a 50-day moving average price of $484.18 and a two-hundred day moving average price of $424.15. Meta Platforms, Inc. has a 1 year low of $244.95 and a 1 year high of $531.49. The stock has a market cap of $1.18 trillion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 1.20 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating 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 firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Equities analysts anticipate that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Meta Platforms Company 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.