Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,495 shares of the social networking company’s stock after selling 1,529 shares during the quarter. Meta Platforms comprises 2.0% of Jacobs & Co. CA’s portfolio, making the stock its 6th biggest holding. Jacobs & Co. CA’s holdings in Meta Platforms were worth $17,073,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Credit Suisse AG bought a new position in Meta Platforms during the fourth quarter valued at about $481,262,000. Catalyst Financial Partners LLC increased its stake in Meta Platforms by 18.7% during the first quarter. Catalyst Financial Partners LLC now owns 4,287 shares of the social networking company’s stock valued at $909,000 after acquiring an additional 675 shares during the period. Hall Capital Management Co. Inc. bought a new position in Meta Platforms during the first quarter valued at about $205,000. Aspire Private Capital LLC increased its stake in Meta Platforms by 139.0% during the first quarter. Aspire Private Capital LLC now owns 1,293 shares of the social networking company’s stock valued at $274,000 after acquiring an additional 752 shares during the period. Finally, Audent Global Asset Management LLC bought a new position in Meta Platforms during the fourth quarter valued at about $392,000. Institutional investors and hedge funds own 62.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on META shares. Piper Sandler upped their price objective on Meta Platforms from $310.00 to $365.00 in a research note on Thursday, July 27th. Credit Suisse Group upped their price objective on Meta Platforms from $361.00 to $407.00 in a research note on Thursday, July 27th. Argus upped their price objective on Meta Platforms from $353.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Wolfe Research upped their price objective on Meta Platforms from $300.00 to $330.00 in a research note on Wednesday, June 14th. Finally, TD Cowen raised Meta Platforms from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $220.00 to $345.00 in a report on Thursday, July 13th. Two equities research 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 stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.79.

Meta Platforms Stock Up 0.7 %

Shares of 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’s 50 day moving average is $302.40 and its 200-day moving average is $260.80. The stock has a market capitalization of $778.51 billion, a PE ratio of 35.26, a P/E/G 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.

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 analysts’ consensus estimates of $2.87 by $0.36. The business had revenue of $32 billion for the quarter, compared to analysts’ expectations of $30.91 billion. Meta Platforms had a net margin of 18.70% and a return on equity of 21.72%. Equities research analysts forecast that Meta Platforms, Inc. will post 13.17 EPS for the current year.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 10,643 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total transaction of $3,258,780.17. Following the sale, the chief financial officer now directly owns 91,617 shares in the company, valued at approximately $28,052,209.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Susan J. Li sold 10,643 shares of the company’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 $3,258,780.17. Following the transaction, the chief financial officer now directly owns 91,617 shares of the company’s stock, valued at $28,052,209.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 670 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $292.55, for a total value of $196,008.50. Following the completion of the transaction, the insider now owns 39,690 shares in the company, valued at approximately $11,611,309.50. The disclosure for this sale can be found here. Insiders have sold a total of 40,457 shares of company stock valued at $12,273,577 in the last 90 days. 14.03% of the stock is owned by corporate insiders.

About Meta Platforms

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.