Robertson Stephens Wealth Management LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Robertson Stephens Wealth Management LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 21.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,739 shares of the social networking company’s stock after purchasing an additional 839 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Meta Platforms were worth $1,677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Stone House Investment Management LLC lifted its position in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the period. Beaird Harris Wealth Management LLC lifted its position in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the period. PayPay Securities Corp lifted its position in shares of Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 43 shares during the period. Cranbrook Wealth Management LLC lifted its position in shares of Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after acquiring an additional 45 shares during the period. Finally, Gilfoyle & Co LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 97,093 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 10,956 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $5,185,255.68. Following the completion of the transaction, the chief financial officer now owns 76,398 shares in the company, valued at approximately $36,157,645.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 97,093 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The disclosure for this sale can be found here. Insiders have sold a total of 1,257,291 shares of company stock worth $612,916,087 over the last quarter. 13.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Mizuho lifted their price objective on Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Bank of America lifted their price objective on Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. KeyCorp cut their price objective on Meta Platforms from $575.00 to $555.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Sanford C. Bernstein cut their price objective on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, BNP Paribas assumed coverage on Meta Platforms in a research report on Thursday. They set an “underperform” rating and a $360.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $509.80.

Meta Platforms Stock Down 0.1 %

Shares of Meta Platforms stock traded down $0.25 during trading on Thursday, reaching $438.94. The company had a trading volume of 6,381,026 shares, compared to its average volume of 18,303,018. The company has a market cap of $1.12 trillion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 1.12 and a beta of 1.21. The firm’s fifty day moving average is $492.83 and its 200-day moving average is $406.97. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a fifty-two week low of $229.85 and a fifty-two week high of $531.49.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, analysts anticipate that Meta Platforms, Inc. will post 20.1 EPS for the current year.

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.