FineMark National Bank & Trust Has $20.37 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

FineMark National Bank & Trust increased its position in Meta Platforms, Inc. (NASDAQ:META) by 0.2% during the fourth quarter, Holdings Channel reports. The firm owned 57,555 shares of the social networking company’s stock after buying an additional 141 shares during the quarter. Meta Platforms makes up approximately 0.8% of FineMark National Bank & Trust’s portfolio, making the stock its 24th largest holding. FineMark National Bank & Trust’s holdings in Meta Platforms were worth $20,372,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stone House Investment Management LLC raised its holdings in shares of Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the period. Beaird Harris Wealth Management LLC raised its holdings in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the period. Quest Partners LLC bought a new position in Meta Platforms in the 4th quarter valued at about $32,000. Cranbrook Wealth Management LLC raised its holdings in Meta Platforms by 80.4% in 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 during the period. Finally, Gilfoyle & Co LLC bought a new position in Meta Platforms in the 4th quarter valued at about $39,000. 79.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on META shares. Jefferies Financial Group lowered their target price on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Roth Mkm lifted their price target on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Stifel Nicolaus boosted their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, JMP Securities restated a “market outperform” rating and set a $550.00 price target on shares of Meta Platforms in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $509.80.

Insider Activity

In other news, CEO Mark Zuckerberg sold 31,493 shares of Meta Platforms stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $487.52, for a total value of $15,353,467.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CTO Andrew Bosworth sold 5,058 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the transaction, the chief technology officer now directly owns 15,412 shares in the company, valued at $7,272,152.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 31,493 shares of the business’s stock in a transaction dated 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 a total of 917,544 shares of company stock worth $453,751,884 over the last 90 days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Shares of NASDAQ META traded down $3.48 during midday trading on Thursday, reaching $464.30. The company had a trading volume of 8,977,475 shares, compared to its average volume of 17,499,756. The business’s 50-day simple moving average is $484.71 and its 200 day simple moving average is $423.86. The stock has a market cap of $1.18 trillion, a P/E ratio of 26.90, a P/E/G ratio of 1.20 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $244.95 and a 1 year high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. On average, 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.