Meadow Creek Wealth Advisors LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Meadow Creek Wealth Advisors LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 52.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,325 shares of the social networking company’s stock after buying an additional 799 shares during the period. Meadow Creek Wealth Advisors LLC’s holdings in Meta Platforms were worth $517,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Barnett & Company Inc. grew its stake in Meta Platforms by 105.0% in the 4th quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock valued at $28,000 after buying an additional 42 shares in the last quarter. Rise Advisors LLC purchased a new position in Meta Platforms in the 4th quarter valued at approximately $28,000. Evolution Advisers Inc. purchased a new position in Meta Platforms in the 4th quarter valued at approximately $48,000. Comprehensive Financial Consultants Institutional Inc. purchased a new position in Meta Platforms in the 4th quarter valued at approximately $31,000. Finally, Advocacy Wealth Management Services LLC grew its stake in Meta Platforms by 65.9% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 151 shares of the social networking company’s stock valued at $34,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 65.49% of the company’s stock.

META has been the subject of a number of recent analyst reports. TheStreet lowered shares of Meta Platforms from a “b-” rating to a “c” rating in a research report on Friday, March 4th. Truist Financial reduced their price target on shares of Meta Platforms from $350.00 to $320.00 in a research report on Thursday, April 28th. JMP Securities reduced their price target on shares of Meta Platforms from $350.00 to $265.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 19th. Susquehanna Bancshares reduced their price target on shares of Meta Platforms from $375.00 to $290.00 in a research report on Thursday, April 28th. Finally, BMO Capital Markets reduced their price target on shares of Meta Platforms from $290.00 to $225.00 in a research report on Friday, April 22nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $305.87.

In related news, CTO Andrew Bosworth sold 11,718 shares of the stock in a transaction that occurred on Sunday, May 15th. The shares were sold at an average price of $198.62, for a total transaction of $2,327,429.16. Following the transaction, the chief technology officer now owns 11,913 shares in the company, valued at $2,366,160.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 342 shares of the stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $165.89, for a total transaction of $56,734.38. Following the transaction, the insider now owns 19,115 shares in the company, valued at approximately $3,170,987.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,698 shares of company stock worth $9,181,081. Insiders own 13.59% of the company’s stock.

Shares of NASDAQ META opened at $155.85 on Thursday. The firm’s 50 day moving average price is $190.82 and its 200-day moving average price is $239.46. The company has a market cap of $421.78 billion, a PE ratio of 11.79, a P/E/G ratio of 1.23 and a beta of 1.37. Meta Platforms, Inc. has a 52-week low of $155.44 and a 52-week high of $384.33.

Meta Platforms (NASDAQ:META – Get Rating) last issued its earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.18. The firm had revenue of $27.91 billion for the quarter, compared to the consensus estimate of $28.21 billion. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. During the same quarter in the prior year, the firm posted $3.30 earnings per share. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 11.63 earnings per share for the current year.

Meta Platforms Profile (Get Rating)

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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