Meta Platforms, Inc. (NASDAQ:META) Shares Sold by 180 Wealth Advisors LLC

180 Wealth Advisors LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 12.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,353 shares of the social networking company’s stock after selling 2,330 shares during the period. Meta Platforms accounts for 1.0% of 180 Wealth Advisors LLC’s holdings, making the stock its 15th biggest position. 180 Wealth Advisors LLC’s holdings in Meta Platforms were worth $4,677,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ruedi Wealth Management Inc. acquired a new position in Meta Platforms in the 4th quarter worth approximately $25,000. Worth Asset Management LLC boosted its holdings in shares of Meta Platforms by 248.6% in the 1st quarter. Worth Asset Management LLC now owns 122 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. Sageworth Trust Co acquired a new stake in shares of Meta Platforms in the first quarter worth $26,000. MBM Wealth Consultants LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth $26,000. Finally, Chelsea Counsel Co. purchased a new position in shares of Meta Platforms during the fourth quarter worth $27,000. 62.87% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 0.7 %

NASDAQ:META opened at $302.55 on Tuesday. Meta Platforms, Inc. has a 12-month low of $88.09 and a 12-month high of $326.20. The firm has a market cap of $778.51 billion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 0.99 and a beta of 1.23. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average price of $302.40 and a 200 day moving average price of $260.80.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 26th. The social networking company reported $3.23 earnings per share (EPS) for the quarter, beating 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. Sell-side analysts anticipate that Meta Platforms, Inc. will post 13.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 670 shares of Meta Platforms stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $306.34, for a total transaction of $205,247.80. Following the completion of the sale, the insider now directly owns 37,680 shares of the company’s stock, valued at approximately $11,542,891.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jennifer Newstead sold 670 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $306.34, for a total transaction of $205,247.80. Following the sale, the insider now owns 37,680 shares of the company’s stock, valued at approximately $11,542,891.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 4,277 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $293.00, for a total value of $1,253,161.00. Following the completion of the transaction, the chief operating officer now directly owns 82,858 shares of the company’s stock, valued at $24,277,394. The disclosure for this sale can be found here. Insiders sold 40,457 shares of company stock worth $12,273,577 in the last 90 days. Corporate insiders own 14.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on META shares. Argus increased their price target on Meta Platforms from $353.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Citigroup increased their target price on shares of Meta Platforms from $360.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Wells Fargo & Company upgraded Meta Platforms from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $313.00 to $389.00 in a research report on Thursday, July 27th. Morgan Stanley upped their price target on Meta Platforms from $350.00 to $375.00 in a report on Thursday, July 27th. Finally, Tigress Financial raised their price objective on Meta Platforms from $285.00 to $380.00 in a report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $319.79.

Meta Platforms Company 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.