Signature Resources Capital Management LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 378 shares of the social networking company’s stock, valued at approximately $134,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Stone House Investment Management LLC boosted its position in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares during the period. Gilfoyle & Co LLC bought a new stake in Meta Platforms in the 4th quarter valued at approximately $39,000. Cranbrook Wealth Management LLC boosted its position in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares during the last quarter. Beaird Harris Wealth Management LLC raised its holdings in shares of Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. Finally, PayPay Securities Corp lifted its position in shares of Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after purchasing an additional 43 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Meta Platforms Price Performance
Meta Platforms stock traded up $10.28 during midday trading on Friday, reaching $451.96. The company’s stock had a trading volume of 16,489,057 shares, compared to its average volume of 20,698,000. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.15 trillion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 1.18 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $229.85 and a 52 week high of $531.49. The business has a 50-day moving average price of $490.72 and a 200-day moving average price of $408.34.
Insider Transactions at Meta Platforms
In other news, insider Jennifer Newstead sold 552 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total transaction of $256,128.00. Following the sale, the insider now directly owns 34,168 shares in the company, valued at $15,853,952. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 552 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $464.00, for a total transaction of $256,128.00. Following the sale, the insider now directly owns 34,168 shares of the company’s stock, valued at approximately $15,853,952. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 8,036 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the transaction, the chief technology officer now owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,257,876 shares of company stock worth $613,168,252. Corporate insiders own 13.71% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently weighed in on META. UBS Group decreased their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Guggenheim decreased their price objective on Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Citigroup dropped their target price on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price target on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Finally, Evercore ISI boosted their price target on Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $509.80.
Read Our Latest Analysis on Meta Platforms
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.
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