Meta Platforms, Inc. (NASDAQ:META) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,377 shares of the social networking company’s stock after selling 1,928 shares during the quarter. Meta Platforms accounts for about 0.3% of E Fund Management Co. Ltd.’s investment portfolio, making the stock its 27th largest position. E Fund Management Co. Ltd.’s holdings in Meta Platforms were worth $5,443,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Stone House Investment Management LLC grew its position in 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 worth $26,000 after purchasing an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC raised its position in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares during the period. PayPay Securities Corp lifted its stake in Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after acquiring an additional 43 shares in the last quarter. Cranbrook Wealth Management LLC grew its stake in 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 in the last quarter. Finally, Gilfoyle & Co LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $445.93, for a total transaction of $218,505.70. Following the completion of the sale, the chief operating officer now directly owns 6,109 shares of the company’s stock, valued at approximately $2,724,186.37. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $445.93, for a total value of $218,505.70. Following the sale, the chief operating officer now owns 6,109 shares of the company’s stock, valued at approximately $2,724,186.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 97,093 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $469.67, for a total value of $45,601,669.31. The disclosure for this sale can be found here. Insiders sold a total of 1,223,416 shares of company stock valued at $597,392,856 over the last three months. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on META shares. BMO Capital Markets raised their price target on shares of Meta Platforms from $397.00 to $450.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. Oppenheimer lowered their price target on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Canaccord Genuity Group cut their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Raymond James lowered their target price on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 25th. Finally, Morgan Stanley boosted their price objective on Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.80.

Meta Platforms Trading Up 0.6 %

Shares of META stock traded up $2.82 during trading hours on Thursday, hitting $475.42. 9,416,896 shares of the company’s stock traded hands, compared to its average volume of 18,123,613. The stock’s 50 day simple moving average is $489.80 and its 200 day simple moving average is $412.20. Meta Platforms, Inc. has a 12 month low of $230.72 and a 12 month high of $531.49. The stock has a market cap of $1.21 trillion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 1.18 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.1 EPS for the current year.

Meta Platforms 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.