AXS Investments LLC Reduces Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

AXS Investments LLC cut its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,471 shares of the social networking company’s stock after selling 64 shares during the quarter. Meta Platforms comprises approximately 1.8% of AXS Investments LLC’s holdings, making the stock its 2nd biggest position. AXS Investments LLC’s holdings in Meta Platforms were worth $7,600,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Meta Platforms by 1.0% during the third quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock worth $55,011,920,000 after purchasing an additional 1,733,182 shares during the period. FMR LLC raised its holdings in Meta Platforms by 4.0% in the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after acquiring an additional 5,001,647 shares during the period. Morgan Stanley lifted its position in Meta Platforms by 3.4% during the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after acquiring an additional 1,184,978 shares during the last quarter. Norges Bank bought a new stake in shares of Meta Platforms during the fourth quarter worth approximately $11,285,855,000. Finally, Northern Trust Corp grew its position in shares of Meta Platforms by 4.3% in the third quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock valued at $6,906,009,000 after purchasing an additional 946,871 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

META has been the topic of a number of research reports. Susquehanna upped their price objective on Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a report on Friday, February 2nd. Wedbush lowered 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 report on Thursday, April 25th. Canaccord Genuity Group cut their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. Finally, Roth Mkm boosted their price target on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $509.80.

Get Our Latest Report on Meta Platforms

Meta Platforms Price Performance

NASDAQ META traded down $2.00 on Thursday, reaching $465.78. 11,694,715 shares of the company’s stock traded hands, compared to its average volume of 17,505,949. The stock has a market cap of $1.18 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.20 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a 12 month low of $244.95 and a 12 month high of $531.49. The stock has a 50-day simple moving average of $484.71 and a 200 day simple moving average of $423.86.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping 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 analysts’ expectations of $36.28 billion. As a group, research analysts predict that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 74,580 shares of the company’s stock, valued at approximately $35,190,573. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were 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 of the company’s stock, valued at $20,043,756. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the transaction, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The disclosure for this sale can be found here. Insiders sold 917,544 shares of company stock worth $453,751,884 in the last three months. 13.71% of the stock is owned by insiders.

Meta Platforms Profile

(Free Report)

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.

See Also

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

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