Meta Platforms, Inc. (NASDAQ:META) Position Increased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 612,043 shares of the social networking company’s stock after buying an additional 20,195 shares during the period. Meta Platforms comprises about 2.1% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings, making the stock its 6th largest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Meta Platforms were worth $358,357,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Regent Peak Wealth Advisors LLC lifted its stake in Meta Platforms by 5.8% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company’s stock worth $2,939,000 after acquiring an additional 277 shares during the last quarter. Fjell Capital LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $1,836,000. Opulen Financial Group LLC purchased a new stake in shares of Meta Platforms during the 4th quarter worth $325,000. Daner Wealth Management LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth $334,000. Finally, Sara Bay Financial increased its holdings in Meta Platforms by 1.0% in the fourth quarter. Sara Bay Financial now owns 28,250 shares of the social networking company’s stock valued at $16,703,000 after buying an additional 287 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on META shares. UBS Group lifted their price target on Meta Platforms from $650.00 to $683.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Rosenblatt Securities boosted their target price on Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Cantor Fitzgerald upped their price target on Meta Platforms from $624.00 to $676.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on shares of Meta Platforms from $610.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Finally, Guggenheim boosted their price objective on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $701.05.

Meta Platforms Stock Down 0.5%

META stock opened at $637.10 on Wednesday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $572.72 and its 200 day moving average price is $607.81. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a market cap of $1.60 trillion, a P/E ratio of 26.63, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.71 EPS. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 2,615 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $1,724,226.40. Following the sale, the chief operating officer now directly owns 5,437 shares in the company, valued at $3,584,940.32. The trade was a 32.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 3,523 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $701.10, for a total transaction of $2,469,975.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,169 shares of company stock worth $50,927,926. 13.71% of the stock is owned by corporate insiders.

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.