Curran Financial Partners LLC Buys Shares of 778 Meta Platforms, Inc. (NASDAQ:META)

Curran Financial Partners LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 778 shares of the social networking company’s stock, valued at approximately $223,000.

Several other hedge funds have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. raised its stake in shares of Meta Platforms by 3.6% in the second quarter. Harbor Capital Advisors Inc. now owns 27,787 shares of the social networking company’s stock valued at $7,974,000 after buying an additional 957 shares during the period. Selective Wealth Management Inc. bought a new stake in shares of Meta Platforms during the 2nd quarter valued at $7,867,000. Northwest Investment Counselors LLC raised its stake in shares of Meta Platforms by 5.1% during the 2nd quarter. Northwest Investment Counselors LLC now owns 3,178 shares of the social networking company’s stock valued at $912,000 after purchasing an additional 153 shares during the period. Norway Savings Bank raised its stake in shares of Meta Platforms by 1.7% during the 2nd quarter. Norway Savings Bank now owns 2,331 shares of the social networking company’s stock valued at $669,000 after purchasing an additional 40 shares during the period. Finally, CRA Financial Services LLC raised its stake in shares of Meta Platforms by 0.6% during the 2nd quarter. CRA Financial Services LLC now owns 13,564 shares of the social networking company’s stock valued at $3,893,000 after purchasing an additional 77 shares during the period. 62.87% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 722 shares of the stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $282.00, for a total value of $203,604.00. Following the completion of the transaction, the insider now owns 34,478 shares of the company’s stock, valued at approximately $9,722,796. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Andrew Bosworth sold 8,032 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total transaction of $2,459,318.08. Following the completion of the transaction, the chief technology officer now owns 11,588 shares of the company’s stock, valued at approximately $3,548,129.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 722 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $282.00, for a total value of $203,604.00. Following the transaction, the insider now directly owns 34,478 shares of the company’s stock, valued at approximately $9,722,796. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,457 shares of company stock valued at $12,273,577. Corporate insiders own 14.03% of the company’s stock.

Meta Platforms Trading Up 0.7 %

NASDAQ META opened at $302.55 on Tuesday. Meta Platforms, Inc. has a fifty-two week low of $88.09 and a fifty-two week high of $326.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.32 and a current ratio of 2.32. The stock has a 50 day simple moving average of $302.40 and a two-hundred day simple moving average of $260.80. The stock has a market cap of $778.51 billion, a P/E ratio of 35.26, a price-to-earnings-growth ratio of 0.99 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 26th. The social networking company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.36. Meta Platforms had a return on equity of 21.72% and a net margin of 18.70%. The business had revenue of $32 billion during the quarter, compared to analysts’ expectations of $30.91 billion. On average, analysts forecast that Meta Platforms, Inc. will post 13.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on META. The Goldman Sachs Group boosted their price objective on Meta Platforms from $300.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, July 17th. Wedbush began coverage on Meta Platforms in a research note on Monday, August 21st. They set an “outperform” rating and a $350.00 price objective on the stock. Jefferies Financial Group boosted their price objective on Meta Platforms from $360.00 to $400.00 in a research note on Thursday, July 27th. Sanford C. Bernstein upped their target price on Meta Platforms from $350.00 to $375.00 in a research note on Thursday, July 27th. Finally, Susquehanna upped their target price on Meta Platforms from $310.00 to $400.00 in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $319.79.

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.