BlackDiamond Wealth Management LLC Has $859,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

BlackDiamond Wealth Management LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,428 shares of the social networking company’s stock after acquiring an additional 121 shares during the quarter. BlackDiamond Wealth Management LLC’s holdings in Meta Platforms were worth $859,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Main Street Research LLC raised its position in Meta Platforms by 8,489.0% in the 3rd quarter. Main Street Research LLC now owns 70,172 shares of the social networking company’s stock valued at $21,066,000 after buying an additional 69,355 shares during the last quarter. Regent Peak Wealth Advisors LLC raised its position in Meta Platforms by 2.3% in the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 4,701 shares of the social networking company’s stock valued at $1,411,000 after buying an additional 105 shares during the last quarter. Winthrop Advisory Group LLC raised its position in Meta Platforms by 1.3% in the 3rd quarter. Winthrop Advisory Group LLC now owns 4,422 shares of the social networking company’s stock valued at $1,328,000 after buying an additional 55 shares during the last quarter. Strategic Wealth Investment Group LLC increased its position in shares of Meta Platforms by 7.5% during the 3rd quarter. Strategic Wealth Investment Group LLC now owns 41,780 shares of the social networking company’s stock valued at $12,543,000 after purchasing an additional 2,899 shares during the last quarter. Finally, NBC Securities Inc. purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at $1,995,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their target price on Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Loop Capital decreased their price objective on Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Raymond James decreased their price objective on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating for the company in a report on Thursday, April 25th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Finally, Oppenheimer cut their target price on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Two equities research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $509.80.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 77,412 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the transaction, the chief operating officer now owns 79,944 shares of the company’s stock, valued at $39,015,070.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 77,412 shares of the firm’s 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 disclosure for this sale can be found here. Insiders have sold 917,544 shares of company stock valued at $453,751,884 over the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.1 %

Shares of NASDAQ META traded down $0.48 during trading on Thursday, reaching $467.30. The company had a trading volume of 6,220,792 shares, compared to its average volume of 17,472,846. Meta Platforms, Inc. has a 12-month low of $244.95 and a 12-month high of $531.49. The stock has a market cap of $1.19 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.20 and a beta of 1.21. The business’s 50-day moving average is $484.71 and its 200 day moving average is $423.86. 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 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.18 earnings per share 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.