Sand Hill Global Advisors LLC Sells 393 Shares of Meta Platforms, Inc. (NASDAQ:META)

Sand Hill Global Advisors LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,430 shares of the social networking company’s stock after selling 393 shares during the quarter. Meta Platforms makes up approximately 0.7% of Sand Hill Global Advisors LLC’s holdings, making the stock its 25th biggest position. Sand Hill Global Advisors LLC’s holdings in Meta Platforms were worth $15,019,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Financial Advisors Network Inc. increased its position in shares of Meta Platforms by 14.4% during the 4th quarter. Financial Advisors Network Inc. now owns 3,149 shares of the social networking company’s stock valued at $1,115,000 after purchasing an additional 396 shares during the last quarter. Central Valley Advisors LLC purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $2,036,000. Affinity Investment Advisors LLC increased its position in shares of Meta Platforms by 26.1% during the 4th quarter. Affinity Investment Advisors LLC now owns 10,570 shares of the social networking company’s stock valued at $3,741,000 after purchasing an additional 2,187 shares during the last quarter. Harvard Management Co. Inc. increased its position in shares of Meta Platforms by 34.5% during the 4th quarter. Harvard Management Co. Inc. now owns 1,289,505 shares of the social networking company’s stock valued at $456,433,000 after purchasing an additional 331,000 shares during the last quarter. Finally, King Luther Capital Management Corp increased its holdings in Meta Platforms by 25.8% in the 4th quarter. King Luther Capital Management Corp now owns 42,308 shares of the social networking company’s stock worth $14,975,000 after acquiring an additional 8,679 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on META shares. Sanford C. Bernstein reduced their target price on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Loop Capital reduced their target price on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Oppenheimer reduced their target price on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Wolfe Research reduced their target price on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, The Goldman Sachs Group cut their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $509.80.

Meta Platforms Trading Up 0.7 %

Shares of NASDAQ:META traded up $3.15 on Wednesday, hitting $467.78. 9,860,824 shares of the company’s stock were exchanged, compared to its average volume of 17,587,551. Meta Platforms, Inc. has a 12 month low of $244.95 and a 12 month high of $531.49. The stock has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 1.22 and a beta of 1.21. The business’s 50 day simple moving average is $485.26 and its two-hundred day simple moving average is $423.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during 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%. Analysts anticipate that Meta Platforms, Inc. will post 20.18 EPS for the current fiscal year.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 77,412 shares of Meta Platforms stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $486.18, for a total value of $37,636,166.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at $39,015,070.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 77,412 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $486.18, for a total transaction of $37,636,166.16. The disclosure for this sale can be found here. Insiders sold 917,544 shares of company stock worth $453,751,884 over the last three months. 13.71% of the stock is owned by corporate insiders.

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.