Palisade Capital Management LLC NJ Decreases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Palisade Capital Management LLC NJ cut its stake in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 33.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,303 shares of the social networking company’s stock after selling 9,564 shares during the period. Palisade Capital Management LLC NJ’s holdings in Meta Platforms were worth $4,292,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in META. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Meta Platforms by 13.4% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 627,832 shares of the social networking company’s stock worth $211,181,000 after buying an additional 74,049 shares during the period. TrueWealth Advisors LLC bought a new position in Meta Platforms in the 4th quarter worth $250,000. Helios Capital Management PTE. Ltd. bought a new position in Meta Platforms in the 4th quarter worth $3,733,000. Intelligence Driven Advisers LLC bought a new position in Meta Platforms in the 4th quarter worth $276,000. Finally, Investment Management of Virginia LLC boosted its holdings in Meta Platforms by 27.7% in the 4th quarter. Investment Management of Virginia LLC now owns 921 shares of the social networking company’s stock worth $310,000 after buying an additional 200 shares during the period. 65.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 311 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $199.60, for a total value of $62,075.60. Following the completion of the sale, the insider now directly owns 12,187 shares in the company, valued at $2,432,525.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Susan J.S. Taylor sold 1,420 shares of Meta Platforms stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $202.16, for a total transaction of $287,067.20. Following the completion of the sale, the chief accounting officer now directly owns 1,605 shares in the company, valued at $324,466.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 311 shares of Meta Platforms 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 sale, the insider now owns 12,187 shares of the company’s stock, valued at $2,432,525.20. The disclosure for this sale can be found here. Insiders sold a total of 45,236 shares of company stock worth $8,958,728 over the last three months. Corporate insiders own 13.59% of the company’s stock.

Meta Platforms Stock Down 2.0 %

Shares of META stock opened at $167.11 on Friday. The firm has a market cap of $449.12 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 2.26 and a beta of 1.32. The company’s 50 day moving average is $166.98 and its 200 day moving average is $182.37. Meta Platforms, Inc. has a 52-week low of $154.25 and a 52-week high of $384.33.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on META shares. Ita├║ Unibanco started coverage on shares of Meta Platforms in a report on Tuesday, July 26th. They issued a “market perform” rating and a $188.00 target price for the company. MKM Partners dropped their price objective on shares of Meta Platforms from $295.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Cowen dropped their price objective on shares of Meta Platforms from $300.00 to $275.00 and set an “outperform” rating for the company in a report on Wednesday, July 13th. The Goldman Sachs Group dropped their price objective on shares of Meta Platforms from $290.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Finally, Cowen dropped their price objective on shares of Meta Platforms from $300.00 to $275.00 and set an “outperform” rating for the company in a report on Wednesday, July 13th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.98.

Meta Platforms Company Profile

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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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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