Forsta AP Fonden Sells 20,100 Shares of Meta Platforms, Inc. (NASDAQ:META)

Forsta AP Fonden cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 4.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 471,000 shares of the social networking company’s stock after selling 20,100 shares during the period. Meta Platforms accounts for approximately 1.2% of Forsta AP Fonden’s investment portfolio, making the stock its 8th biggest holding. Forsta AP Fonden’s holdings in Meta Platforms were worth $104,732,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Barnett & Company Inc. increased its position in shares of 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 acquiring an additional 42 shares during the period. Wealth Dimensions Group Ltd. boosted its holdings in Meta Platforms by 3.2% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 1,473 shares of the social networking company’s stock valued at $495,000 after purchasing an additional 46 shares during the last quarter. Certified Advisory Corp boosted its holdings in Meta Platforms by 3.8% in the fourth quarter. Certified Advisory Corp now owns 1,341 shares of the social networking company’s stock valued at $451,000 after purchasing an additional 49 shares during the last quarter. Beaton Management Co. Inc. boosted its holdings in Meta Platforms by 0.5% in the fourth quarter. Beaton Management Co. Inc. now owns 9,372 shares of the social networking company’s stock valued at $3,152,000 after purchasing an additional 50 shares during the last quarter. Finally, Delta Financial Advisors LLC boosted its holdings in Meta Platforms by 0.7% in the fourth quarter. Delta Financial Advisors LLC now owns 6,804 shares of the social networking company’s stock valued at $2,289,000 after purchasing an additional 50 shares during the last quarter. 65.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

META has been the topic of several recent research reports. Barclays lowered their price target on shares of Meta Platforms from $370.00 to $280.00 and set an “overweight” rating on the stock in a report on Tuesday, July 5th. Rosenblatt Securities lowered their price target on shares of Meta Platforms from $212.00 to $181.00 and set a “neutral” rating on the stock in a report on Monday, July 25th. Oppenheimer lowered their target price on shares of Meta Platforms from $305.00 to $190.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Piper Sandler lowered their target price on shares of Meta Platforms from $220.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, July 28th. Finally, Susquehanna lowered their target price on shares of Meta Platforms from $375.00 to $290.00 in a research note on Thursday, April 28th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $257.98.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 311 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $199.60, for a total value of $62,075.60. Following the completion of the transaction, the insider now owns 12,187 shares of the company’s stock, valued at approximately $2,432,525.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, insider Jennifer Newstead sold 311 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $199.60, for a total value of $62,075.60. Following the completion of the transaction, the insider now owns 12,187 shares of the company’s stock, valued at approximately $2,432,525.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David M. Wehner sold 1,222 shares of Meta Platforms stock in a transaction on Sunday, May 15th. The stock was sold at an average price of $198.62, for a total transaction of $242,713.64. Following the sale, the chief financial officer now directly owns 12,247 shares of the company’s stock, valued at $2,432,499.14. The disclosure for this sale can be found here. Insiders sold 45,236 shares of company stock valued at $8,958,728 in the last 90 days. Company insiders own 13.59% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $167.11 on Friday. The stock has a market capitalization of $449.12 billion, a P/E ratio of 13.85, a PEG ratio of 2.26 and a beta of 1.32. The company has a 50 day moving average price of $166.98 and a 200 day moving average price of $182.37. Meta Platforms, Inc. has a fifty-two week low of $154.25 and a fifty-two week high of $384.33.

Meta Platforms (NASDAQ:METAGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The social networking company reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.04). Meta Platforms had a return on equity of 26.52% and a net margin of 28.16%. The company had revenue of $28.82 billion for the quarter, compared to analysts’ expectations of $28.95 billion. During the same period in the previous year, the business posted $3.61 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. Research analysts forecast that Meta Platforms, Inc. will post 9.58 earnings per share for the current fiscal year.

Meta Platforms Profile

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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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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