Commerce Bank Buys 1,684 Shares of Meta Platforms, Inc. (NASDAQ:META)

Commerce Bank raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 163,034 shares of the social networking company’s stock after purchasing an additional 1,684 shares during the period. Commerce Bank’s holdings in Meta Platforms were worth $57,708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new position in shares of Meta Platforms in the 4th quarter valued at about $11,285,855,000. FMR LLC lifted its holdings in shares of Meta Platforms by 4.0% in the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after acquiring an additional 5,001,647 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Meta Platforms by 11,154.4% in the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after acquiring an additional 4,908,251 shares during the last quarter. Concentrum Wealth Management raised its position in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Meta Platforms by 55.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,632,631 shares of the social networking company’s stock worth $2,591,602,000 after purchasing an additional 3,093,715 shares during the period. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on META. Monness Crespi & Hardt increased their price objective on shares of Meta Platforms from $370.00 to $540.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $545.00 target price (down from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Oppenheimer reduced their target price on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Raymond James reduced 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 research report on Thursday, April 25th. Finally, Wedbush reduced their target price on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Two research 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 given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $509.80.

Meta Platforms Price Performance

META traded down $3.48 on Thursday, reaching $464.30. 8,977,475 shares of the company’s stock were exchanged, compared to its average volume of 17,499,756. The stock has a market cap of $1.18 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.20 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $244.95 and a twelve month high of $531.49. The stock’s fifty day moving average price is $484.71 and its 200-day moving average price is $423.86. 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 posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The firm 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%. Sell-side analysts expect that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the transaction, the insider now directly owns 38,398 shares in the company, valued at approximately $20,043,756. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the sale, the insider now directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 31,493 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $487.52, for a total transaction of $15,353,467.36. The disclosure for this sale can be found here. Insiders have sold 917,544 shares of company stock worth $453,751,884 in the last ninety days. 13.71% of the stock is owned by 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.