Peregrine Asset Advisers Inc. Has $319,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

Peregrine Asset Advisers Inc. trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 94.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 901 shares of the social networking company’s stock after selling 14,068 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Meta Platforms were worth $319,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Forsta AP Fonden boosted its stake in shares of Meta Platforms by 0.5% in the 3rd quarter. Forsta AP Fonden now owns 533,200 shares of the social networking company’s stock valued at $160,072,000 after purchasing an additional 2,700 shares in the last quarter. Zweig DiMenna Associates LLC boosted its stake in shares of Meta Platforms by 29.9% in the 3rd quarter. Zweig DiMenna Associates LLC now owns 65,460 shares of the social networking company’s stock valued at $19,652,000 after purchasing an additional 15,060 shares in the last quarter. Kennedy Investment Group boosted its stake in shares of Meta Platforms by 38.3% in the 3rd quarter. Kennedy Investment Group now owns 1,536 shares of the social networking company’s stock valued at $461,000 after purchasing an additional 425 shares in the last quarter. Kowal Investment Group LLC boosted its stake in shares of Meta Platforms by 15.6% in the 3rd quarter. Kowal Investment Group LLC now owns 3,091 shares of the social networking company’s stock valued at $928,000 after purchasing an additional 418 shares in the last quarter. Finally, Jacobsen Capital Management boosted its stake in shares of Meta Platforms by 1.4% in the 3rd quarter. Jacobsen Capital Management now owns 3,330 shares of the social networking company’s stock valued at $1,000,000 after purchasing an additional 45 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

META has been the topic of a number of research analyst reports. Wedbush reduced their price target on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Bank of America lifted their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Truist Financial cut their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. BMO Capital Markets lifted their target price on shares of Meta Platforms from $397.00 to $450.00 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. Finally, KeyCorp cut their target price on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $509.80.

Meta Platforms Stock Up 3.0 %

Shares of META traded up $13.72 during trading hours on Monday, reaching $465.68. 15,071,031 shares of the stock traded hands, compared to its average volume of 18,354,510. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $490.72 and a 200 day simple moving average of $409.58. Meta Platforms, Inc. has a 52 week low of $230.27 and a 52 week high of $531.49. The company has a market cap of $1.18 trillion, a price-to-earnings ratio of 26.75, a PEG ratio of 1.18 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.1 EPS for the current year.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 97,093 shares of Meta Platforms stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,257,876 shares of company stock worth $613,168,252. Insiders own 13.71% of the company’s stock.

Meta Platforms 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.