Checchi Capital Advisers LLC Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Checchi Capital Advisers LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,983 shares of the social networking company’s stock, valued at approximately $1,923,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in META. Laraway Financial Advisors Inc lifted its position in shares of Meta Platforms by 2.9% during the 1st quarter. Laraway Financial Advisors Inc now owns 3,490 shares of the social networking company’s stock valued at $776,000 after acquiring an additional 100 shares during the last quarter. Red Wave Investments LLC boosted its position in shares of Meta Platforms by 6.4% during the first quarter. Red Wave Investments LLC now owns 1,870 shares of the social networking company’s stock worth $416,000 after purchasing an additional 113 shares in the last quarter. Riverpoint Wealth Management Holdings LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $25,000. NewSquare Capital LLC bought a new stake in Meta Platforms in the 4th quarter valued at about $26,000. Finally, Arcadia Investment Management Corp MI acquired a new position in Meta Platforms during the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 60.92% of the company’s stock.

Meta Platforms Trading Up 2.2 %

META traded up $5.57 during midday trading on Friday, reaching $258.26. 5,431,653 shares of the company’s stock traded hands, compared to its average volume of 28,458,984. The firm has a fifty day moving average of $222.84 and a two-hundred day moving average of $169.95. The stock has a market capitalization of $661.85 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 0.94 and a beta of 1.20. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.07 and a quick ratio of 2.07. Meta Platforms, Inc. has a 52 week low of $88.09 and a 52 week high of $258.33.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $240.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, April 27th. Canaccord Genuity Group lifted their target price on Meta Platforms from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, April 27th. Arete Research restated a “sell” rating on shares of Meta Platforms in a report on Monday, March 6th. Raymond James boosted their price target on Meta Platforms from $238.00 to $287.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th. Finally, DZ Bank raised Meta Platforms from a “sell” rating to a “hold” rating and set a $180.00 price objective for the company in a research note on Friday, February 3rd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $245.87.

Insider Buying and Selling

In other news, CFO Susan J. Li sold 10,643 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $233.81, for a total value of $2,488,439.83. Following the transaction, the chief financial officer now directly owns 73,958 shares in the company, valued at approximately $17,292,119.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Jennifer Newstead sold 375 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $231.08, for a total value of $86,655.00. Following the completion of the transaction, the insider now owns 27,813 shares of the company’s stock, valued at $6,427,028.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 10,643 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $233.81, for a total transaction of $2,488,439.83. Following the completion of the transaction, the chief financial officer now directly owns 73,958 shares of the company’s stock, valued at approximately $17,292,119.98. The disclosure for this sale can be found here. Insiders have sold 37,762 shares of company stock worth $8,749,860 in the last 90 days. Insiders own 13.75% of the company’s stock.

About Meta Platforms

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Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.