Meta Platforms, Inc. $META is Parr Mcknight Wealth Management Group LLC’s 10th Largest Position

Parr Mcknight Wealth Management Group LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 48.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,085 shares of the social networking company’s stock after purchasing an additional 8,882 shares during the period. Meta Platforms accounts for about 1.8% of Parr Mcknight Wealth Management Group LLC’s investment portfolio, making the stock its 10th biggest holding. Parr Mcknight Wealth Management Group LLC’s holdings in Meta Platforms were worth $15,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC boosted its position in Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after acquiring an additional 570 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after acquiring an additional 875 shares in the last quarter. Headwater Capital Co Ltd lifted its stake in shares of Meta Platforms by 294.7% in the 1st quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock valued at $86,454,000 after purchasing an additional 112,000 shares during the period. Dymon Asia Capital Singapore PTE. LTD. bought a new stake in shares of Meta Platforms during the second quarter valued at approximately $213,000. Finally, Capital & Planning LLC bought a new stake in shares of Meta Platforms during the second quarter valued at approximately $322,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 1.0%

NASDAQ:META opened at $616.77 on Friday. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $790.80. The business has a fifty day moving average price of $596.16 and a 200-day moving average price of $609.26. The firm has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 1.07 and a beta of 1.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.23 and a quick ratio of 2.23.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 29th. The social networking company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $7.19 by ($1.01). Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The company had revenue of $60.80 billion for the quarter, compared to analysts’ expectations of $60.22 billion. During the same quarter last year, the firm posted $7.14 earnings per share. Meta Platforms’s revenue for the quarter was up 28.0% on a year-over-year basis. Sell-side analysts forecast that Meta Platforms, Inc. will post 28.17 EPS for the current year.

Insider Buying and Selling

In related news, CFO Susan Li sold 9,196 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $550.61, for a total transaction of $5,063,409.56. Following the completion of the transaction, the chief financial officer directly owned 13,186 shares in the company, valued at approximately $7,260,343.46. The trade was a 41.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,848 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $558.00, for a total transaction of $4,379,184.00. Following the completion of the sale, the chief technology officer directly owned 828 shares of the company’s stock, valued at $462,024. This represents a 90.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,987 shares of company stock valued at $19,202,995 in the last 90 days. Corporate insiders own 13.53% of the company’s stock.

Trending Headlines about Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta opened paid developer access to Muse Spark 1.3, with company executives and analysts claiming the model is approaching or matching offerings from Anthropic and OpenAI. Improved performance and token efficiency could support adoption in coding agents, model APIs, subscriptions and future generative-search advertising. Meta Platforms: Muse Spark 1.3 Was The Warning Shot
• Positive Sentiment: Recent coverage identifies Muse Spark 1.3 as a new catalyst that could improve confidence in Meta’s AI roadmap and help the company recover toward its prior highs, provided the technology translates into revenue and returns on investment. Meta Rises 4% as Muse Spark 1.3 Claims Parity with Anthropic and OpenAI
• Positive Sentiment: Some investment commentary views Meta as a major beneficiary of the ongoing AI infrastructure and computing cycle, alongside other hyperscalers, potentially creating a long-term growth opportunity. Hyperscalers Are the Backbone of AI

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on META. Piper Sandler reiterated an “overweight” rating and issued a $785.00 price objective (down from $800.00) on shares of Meta Platforms in a report on Thursday, July 30th. Weiss Ratings cut shares of Meta Platforms from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, June 26th. DA Davidson reduced their target price on shares of Meta Platforms from $850.00 to $700.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Erste Group Bank upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating in a research note on Tuesday, July 7th. Finally, Barclays lowered their price target on shares of Meta Platforms from $830.00 to $780.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $785.22.

Meta Platforms Profile

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.