Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 9.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,713 shares of the social networking company’s stock after selling 278 shares during the quarter. Meta Platforms makes up about 0.5% of Opal Wealth Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Opal Wealth Advisors LLC’s holdings in Meta Platforms were worth $603,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Barnett & Company Inc. lifted its stake in Meta Platforms by 105.0% in the fourth quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock valued at $28,000 after buying an additional 42 shares during the last quarter. Wealth Dimensions Group Ltd. lifted its stake in Meta Platforms by 3.2% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 1,473 shares of the social networking company’s stock valued at $495,000 after buying an additional 46 shares during the last quarter. Certified Advisory Corp lifted its stake in Meta Platforms by 3.8% in the fourth quarter. Certified Advisory Corp now owns 1,341 shares of the social networking company’s stock valued at $451,000 after buying an additional 49 shares during the last quarter. Beaton Management Co. Inc. lifted its stake in Meta Platforms by 0.5% in the fourth quarter. Beaton Management Co. Inc. now owns 9,372 shares of the social networking company’s stock valued at $3,152,000 after buying an additional 50 shares during the last quarter. Finally, Delta Financial Advisors LLC lifted its stake in Meta Platforms by 0.7% in the fourth quarter. Delta Financial Advisors LLC now owns 6,804 shares of the social networking company’s stock valued at $2,289,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 65.49% of the company’s stock.

Meta Platforms Trading Down 2.0 %

META opened at $167.11 on Friday. The stock has a market cap of $449.12 billion, a PE ratio of 13.85, a P/E/G ratio of 2.26 and a beta of 1.32. Meta Platforms, Inc. has a 1 year low of $154.25 and a 1 year high of $384.33. The stock’s 50 day simple moving average is $166.98 and its 200-day simple moving average is $182.37.

Meta Platforms (NASDAQ:METAGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The social networking company reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.04). The firm had revenue of $28.82 billion for the quarter, compared to the consensus estimate of $28.95 billion. Meta Platforms had a net margin of 28.16% and a return on equity of 26.52%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.61 earnings per share. Equities analysts forecast that Meta Platforms, Inc. will post 9.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 11,718 shares of the business’s stock in a transaction on Sunday, May 15th. The stock was sold at an average price of $198.62, for a total value of $2,327,429.16. Following the transaction, the chief technology officer now owns 11,913 shares of the company’s stock, valued at $2,366,160.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Jennifer Newstead sold 311 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $199.60, for a total transaction of $62,075.60. Following the transaction, the insider now owns 12,187 shares of the company’s stock, valued at $2,432,525.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 11,718 shares of the company’s stock in a transaction on Sunday, May 15th. The shares were sold at an average price of $198.62, for a total value of $2,327,429.16. Following the transaction, the chief technology officer now directly owns 11,913 shares in the company, valued at approximately $2,366,160.06. The disclosure for this sale can be found here. Insiders have sold 45,236 shares of company stock worth $8,958,728 over the last three months. Company insiders own 13.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on META shares. Susquehanna cut their target price on Meta Platforms from $375.00 to $290.00 in a research note on Thursday, April 28th. Needham & Company LLC cut shares of Meta Platforms from a “hold” rating to an “underperform” rating in a research note on Monday, July 11th. Itau BBA Securities assumed coverage on shares of Meta Platforms in a research note on Tuesday, July 26th. They set a “market perform” rating and a $188.00 price objective on the stock. Wedbush cut their price objective on shares of Meta Platforms from $270.00 to $220.00 in a research note on Thursday, April 28th. Finally, Susquehanna Bancshares cut their price objective on shares of Meta Platforms from $375.00 to $290.00 in a research note on Thursday, April 28th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $257.98.

About Meta Platforms

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Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; 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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