Oxler Private Wealth LLC Has $6.63 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Oxler Private Wealth LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 35.3% in the fourth quarter, HoldingsChannel reports. The fund owned 18,743 shares of the social networking company’s stock after selling 10,247 shares during the period. Meta Platforms makes up about 5.5% of Oxler Private Wealth LLC’s portfolio, making the stock its 5th biggest position. Oxler Private Wealth LLC’s holdings in Meta Platforms were worth $6,634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of META. Stone House Investment Management LLC raised its position in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC raised its position in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. Quest Partners LLC bought a new position in Meta Platforms during the 4th quarter valued at approximately $32,000. Cranbrook Wealth Management LLC raised its position in shares of Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC bought a new position in shares of Meta Platforms in the 4th quarter worth approximately $39,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. KeyCorp decreased their target price on Meta Platforms from $575.00 to $555.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Morgan Stanley increased their target price on Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Oppenheimer cut their price target on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Wolfe Research cut their price target on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, Benchmark restated a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $509.80.

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of the transaction, the chief financial officer now owns 74,580 shares in the company, valued at $35,190,573. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares in the company, valued at $20,043,756. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $4,223,529.35. Following the transaction, the chief financial officer now owns 74,580 shares of the company’s stock, valued at approximately $35,190,573. The disclosure for this sale can be found here. Insiders have sold a total of 917,544 shares of company stock valued at $453,751,884 over the last ninety days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

NASDAQ:META traded up $3.15 on Wednesday, reaching $467.78. 9,810,188 shares of the company’s stock traded hands, compared to its average volume of 17,586,742. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a 50-day simple moving average of $485.26 and a 200-day simple moving average of $423.55. The firm has a market cap of $1.19 trillion, a PE ratio of 26.84, a P/E/G ratio of 1.22 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $244.95 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Equities research analysts forecast that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

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.