Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Sage Investment Advisers LLC

Sage Investment Advisers LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 9.9% in the 4th quarter, HoldingsChannel reports. The fund owned 604 shares of the social networking company’s stock after selling 66 shares during the period. Sage Investment Advisers LLC’s holdings in Meta Platforms were worth $214,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Addison Advisors LLC lifted its stake in Meta Platforms by 3.9% in the 4th quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock valued at $237,000 after purchasing an additional 25 shares during the last quarter. WoodTrust Financial Corp lifted its position in Meta Platforms by 1.8% during the fourth quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock worth $548,000 after acquiring an additional 27 shares during the last quarter. Tennessee Valley Asset Management Partners boosted its holdings in shares of Meta Platforms by 0.6% during the fourth quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock worth $1,616,000 after acquiring an additional 27 shares during the period. Peterson Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 1.9% during the fourth quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock worth $520,000 after acquiring an additional 28 shares during the period. Finally, Edge Wealth Management LLC grew its position in shares of Meta Platforms by 4.0% in the fourth quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock valued at $258,000 after purchasing an additional 28 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on META. Benchmark restated a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Canaccord Genuity Group lowered their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Robert W. Baird dropped their price objective on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Raymond James lowered their target price on shares of Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a report on Thursday, April 25th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $545.00 price target (down from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $509.80.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now directly owns 36,643 shares in the company, valued at approximately $15,794,965.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Nicholas Clegg sold 2,025 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $958,392.00. Following the completion of the transaction, the insider now owns 10,053 shares of the company’s stock, valued at $4,757,883.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Insiders sold 1,223,416 shares of company stock worth $597,392,856 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

META traded up $4.36 during trading on Wednesday, hitting $472.60. 11,641,890 shares of the company traded hands, compared to its average volume of 18,223,398. Meta Platforms, Inc. has a one year low of $230.72 and a one year high of $531.49. The stock’s fifty day moving average is $490.03 and its 200 day moving average is $411.78. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.20 trillion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 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 the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, equities analysts predict that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal 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.