Shufro Rose & Co. LLC Sells 69 Shares of Meta Platforms, Inc. (NASDAQ:META)

Shufro Rose & Co. LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 4.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,665 shares of the social networking company’s stock after selling 69 shares during the period. Shufro Rose & Co. LLC’s holdings in Meta Platforms were worth $370,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of META. Norges Bank bought a new position in Meta Platforms during the 4th quarter valued at approximately $9,595,113,000. Dodge & Cox raised its position in Meta Platforms by 78.7% during the 4th quarter. Dodge & Cox now owns 6,655,324 shares of the social networking company’s stock valued at $2,238,518,000 after purchasing an additional 2,931,894 shares during the last quarter. Capital International Investors raised its position in Meta Platforms by 5.9% during the 4th quarter. Capital International Investors now owns 51,769,038 shares of the social networking company’s stock valued at $17,413,576,000 after purchasing an additional 2,888,336 shares during the last quarter. HS Management Partners LLC raised its position in Meta Platforms by 463.7% during the 4th quarter. HS Management Partners LLC now owns 2,826,830 shares of the social networking company’s stock valued at $182,104,000 after purchasing an additional 2,325,382 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Meta Platforms by 65.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 5,738,295 shares of the social networking company’s stock valued at $1,275,967,000 after purchasing an additional 2,278,994 shares during the last quarter. Institutional investors own 65.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on META shares. Guggenheim lowered their price target on Meta Platforms from $275.00 to $250.00 and set a “na” rating for the company in a research report on Wednesday, May 18th. DZ Bank downgraded Meta Platforms from a “hold” rating to a “sell” rating and set a $140.00 target price on the stock. in a report on Friday, July 29th. BMO Capital Markets reduced their target price on Meta Platforms from $290.00 to $225.00 in a report on Friday, April 22nd. JMP Securities reduced their target price on Meta Platforms from $240.00 to $215.00 and set a “market outperform” rating on the stock in a report on Thursday, July 28th. Finally, Needham & Company LLC downgraded Meta Platforms from a “hold” rating to an “underperform” rating in a report on Monday, July 11th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $257.98.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $167.11 on Friday. Meta Platforms, Inc. has a one year low of $154.25 and a one year high of $384.33. The stock’s fifty day moving average is $166.98 and its 200 day moving average is $182.37. The stock has a market cap of $449.12 billion, a P/E ratio of 13.85, a P/E/G ratio of 2.26 and a beta of 1.32.

Meta Platforms (NASDAQ:METAGet Rating) last announced its earnings results on Wednesday, July 27th. The social networking company reported $2.46 EPS 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 during the quarter, compared to the consensus estimate of $28.95 billion. During the same period in the prior year, the business posted $3.61 earnings per share. Meta Platforms’s revenue for the quarter was down .9% compared to the same quarter last year. Analysts predict that Meta Platforms, Inc. will post 9.58 EPS for the current year.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 342 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $158.12, for a total value of $54,077.04. Following the completion of the sale, the insider now owns 18,089 shares in the company, valued at approximately $2,860,232.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, CTO Andrew Bosworth sold 10,126 shares of the stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $203.35, for a total value of $2,059,122.10. Following the completion of the sale, the chief technology officer now owns 4,544 shares in the company, valued at approximately $924,022.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 342 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $158.12, for a total value of $54,077.04. Following the transaction, the insider now owns 18,089 shares of the company’s stock, valued at approximately $2,860,232.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,236 shares of company stock valued at $8,958,728. 13.59% of the stock is owned by company insiders.

About Meta Platforms

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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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