Worth Asset Management LLC Has $111,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Worth Asset Management LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 218.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 388 shares of the social networking company’s stock after acquiring an additional 266 shares during the period. Worth Asset Management LLC’s holdings in Meta Platforms were worth $111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in META. BlackRock Inc. boosted its position in Meta Platforms by 0.8% in the first quarter. BlackRock Inc. now owns 152,934,920 shares of the social networking company’s stock valued at $32,413,027,000 after buying an additional 1,172,997 shares in the last quarter. Geode Capital Management LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth $5,424,543,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Meta Platforms by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,803,774 shares of the social networking company’s stock worth $8,859,893,000 after purchasing an additional 6,735,038 shares during the period. Norges Bank acquired a new position in shares of Meta Platforms during the fourth quarter worth $4,223,148,000. Finally, Morgan Stanley acquired a new position in shares of Meta Platforms during the fourth quarter worth $4,072,543,000. Institutional investors and hedge funds own 62.87% of the company’s stock.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 670 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $306.34, for a total value of $205,247.80. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jennifer Newstead sold 670 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $306.34, for a total value of $205,247.80. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Clegg sold 2,146 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total transaction of $657,083.74. Following the completion of the transaction, the insider now directly owns 12,631 shares in the company, valued at approximately $3,867,485.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,457 shares of company stock valued at $12,273,577. Company insiders own 14.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $280.00 to $336.00 in a research note on Friday, July 21st. Jefferies Financial Group lifted their target price on shares of Meta Platforms from $360.00 to $400.00 in a research note on Thursday, July 27th. Bank of America lifted their target price on shares of Meta Platforms from $350.00 to $375.00 in a research note on Thursday, July 27th. Oppenheimer lifted their price target on shares of Meta Platforms from $350.00 to $385.00 in a research note on Thursday, July 27th. Finally, Tigress Financial lifted their price target on shares of Meta Platforms from $285.00 to $380.00 in a research note on Thursday, July 6th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $319.79.

Meta Platforms Stock Performance

Meta Platforms stock opened at $302.55 on Tuesday. The firm’s 50 day simple moving average is $302.40 and its 200 day simple moving average is $260.80. 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 firm has a market capitalization 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. Meta Platforms, Inc. has a 1-year low of $88.09 and a 1-year high of $326.20.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 26th. The social networking company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.36. The business had revenue of $32 billion for the quarter, compared to analyst estimates of $30.91 billion. Meta Platforms had a net margin of 18.70% and a return on equity of 21.72%. As a group, analysts expect that Meta Platforms, Inc. will post 13.17 earnings per share for the current fiscal year.

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.