Breed s Hill Capital LLC Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Breed s Hill Capital LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,215 shares of the social networking company’s stock, valued at approximately $712,000.

Several other institutional investors and hedge funds have also recently modified their holdings of META. Valley Financial Group Inc. boosted its stake in Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock worth $344,000 after buying an additional 14 shares during the period. Lantern Wealth Advisors LLC boosted its stake in Meta Platforms by 0.5% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock worth $1,743,000 after buying an additional 14 shares during the period. Seelaus Asset Management LLC boosted its stake in Meta Platforms by 0.9% during the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock worth $960,000 after buying an additional 15 shares during the period. Meredith Wealth Planning boosted its stake in Meta Platforms by 0.8% during the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after buying an additional 15 shares during the period. Finally, Maiden Cove Capital LLC boosted its stake in Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after buying an additional 15 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the sale, the insider now owns 308,686 shares in the company, valued at approximately $209,199,589.06. The trade was a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $3,334,383.52. Following the sale, the chief technology officer now owns 16,463 shares in the company, valued at $10,855,043.68. The trade was a 23.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,157 shares of company stock worth $49,411,000. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on META shares. Roth Capital lifted their target price on Meta Platforms from $580.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Wells Fargo & Company decreased their target price on Meta Platforms from $752.00 to $664.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group lifted their target price on Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $740.00 target price on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, Evercore ISI lifted their target price on Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $701.05.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $636.57 on Friday. The company has a market capitalization of $1.60 trillion, a PE ratio of 26.61, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The company has a 50-day simple moving average of $573.91 and a two-hundred day simple moving average of $608.53. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91.

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

Meta Platforms Company 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.