Tidemark LLC Buys New Position in Meta Platforms, Inc. (NASDAQ:META)

Tidemark LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 455 shares of the social networking company’s stock, valued at approximately $161,000.

Other hedge funds have also added to or reduced their stakes in the company. Stone House Investment Management LLC boosted its holdings in shares of 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 worth $26,000 after buying an additional 75 shares during the period. Quest Partners LLC bought a new position in shares of Meta Platforms in the fourth quarter worth $32,000. Gilfoyle & Co LLC acquired a new stake in Meta Platforms during the fourth quarter worth about $39,000. Cranbrook Wealth Management LLC boosted its position in shares of Meta Platforms by 80.4% during 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, Beaird Harris Wealth Management LLC boosted its holdings in shares of Meta Platforms by 68.9% in 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 in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on META. Roth Mkm boosted their target price on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Citigroup reduced their price target on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Oppenheimer lowered their price objective on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Canaccord Genuity Group increased their target price on shares of Meta Platforms from $450.00 to $540.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Bank of America boosted their price target 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. Two investment 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 assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $509.80.

Meta Platforms Stock Performance

NASDAQ META traded up $3.46 during mid-day trading on Thursday, reaching $471.24. 4,472,198 shares of the stock were exchanged, compared to its average volume of 17,454,348. The business’s 50 day moving average is $484.71 and its 200-day moving average is $423.86. The company has a market capitalization of $1.20 trillion, a P/E ratio of 26.90, a P/E/G ratio of 1.20 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $244.95 and a 1 year high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

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

Insider Transactions at Meta Platforms

In related news, insider Nicholas Clegg sold 1,135 shares of the 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 $535,549.75. Following the completion of the transaction, the insider now owns 8,753 shares of the company’s stock, valued at approximately $4,130,103.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Nicholas Clegg sold 1,135 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $535,549.75. Following the completion of the transaction, the insider now directly owns 8,753 shares in the company, valued at $4,130,103.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the transaction, the chief operating officer now owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 917,544 shares of company stock valued at $453,751,884. Corporate insiders own 13.71% of the company’s stock.

About Meta Platforms

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.