Meta Platforms, Inc. (NASDAQ:META) Shares Sold by SignalPoint Asset Management LLC

SignalPoint Asset Management LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 10.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,098 shares of the social networking company’s stock after selling 476 shares during the period. SignalPoint Asset Management LLC’s holdings in Meta Platforms were worth $911,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. StrategIQ Financial Group LLC grew its position in shares of Meta Platforms by 4.2% during the 1st quarter. StrategIQ Financial Group LLC now owns 1,600 shares of the social networking company’s stock valued at $356,000 after acquiring an additional 65 shares during the period. Kestra Advisory Services LLC grew its position in shares of Meta Platforms by 13.0% during the 1st quarter. Kestra Advisory Services LLC now owns 119,204 shares of the social networking company’s stock valued at $26,506,000 after acquiring an additional 13,727 shares during the period. Cabot Wealth Management Inc. grew its position in shares of Meta Platforms by 0.6% during the 1st quarter. Cabot Wealth Management Inc. now owns 9,474 shares of the social networking company’s stock valued at $2,107,000 after acquiring an additional 60 shares during the period. EFG Asset Management North America Corp. acquired a new stake in shares of Meta Platforms during the 4th quarter valued at about $7,032,000. Finally, Pacer Advisors Inc. grew its position in shares of Meta Platforms by 149.1% during the 1st quarter. Pacer Advisors Inc. now owns 506,232 shares of the social networking company’s stock valued at $112,566,000 after acquiring an additional 303,001 shares during the period. 65.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 342 shares of the business’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $158.12, for a total transaction of $54,077.04. Following the completion of the transaction, the insider now owns 18,089 shares in the company, valued at $2,860,232.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Nicholas Clegg sold 6,425 shares of the business’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $202.16, for a total value of $1,298,878.00. Following the completion of the sale, the insider now directly owns 9,596 shares of the company’s stock, valued at $1,939,927.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 342 shares of the business’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $158.12, for a total transaction of $54,077.04. Following the completion of the sale, the insider now directly owns 18,089 shares of the company’s stock, valued at $2,860,232.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,236 shares of company stock worth $8,958,728. Corporate insiders own 13.59% of the company’s stock.

Meta Platforms Trading Down 2.0 %

Shares of META stock traded down $3.46 on Friday, reaching $167.11. 25,832,699 shares of the stock were exchanged, compared to its average volume of 30,145,862. The business’s 50 day moving average price is $166.98 and its 200 day moving average price is $182.37. The company has a market capitalization of $449.12 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 2.26 and a beta of 1.32. Meta Platforms, Inc. has a twelve month low of $154.25 and a twelve month high of $384.33.

Meta Platforms (NASDAQ:METAGet Rating) last issued its earnings results on Wednesday, July 27th. The social networking company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.04). The firm had revenue of $28.82 billion for the quarter, compared to analyst estimates of $28.95 billion. Meta Platforms had a return on equity of 26.52% and a net margin of 28.16%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.61 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 9.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Needham & Company LLC cut Meta Platforms from a “hold” rating to an “underperform” rating in a research report on Monday, July 11th. Royal Bank of Canada decreased their price target on shares of Meta Platforms from $245.00 to $240.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 13th. Susquehanna Bancshares decreased their price target on shares of Meta Platforms from $375.00 to $290.00 in a research note on Thursday, April 28th. Wolfe Research decreased their price target on shares of Meta Platforms from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Meta Platforms from $275.00 to $225.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 29th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.98.

About Meta Platforms

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Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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