Private Advisor Group LLC Has $40.55 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Private Advisor Group LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,769 shares of the social networking company’s stock after selling 6,829 shares during the quarter. Private Advisor Group LLC’s holdings in Meta Platforms were worth $40,553,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of META. Wealthcare Advisory Partners LLC lifted its holdings in shares of Meta Platforms by 20.1% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 11,798 shares of the social networking company’s stock valued at $4,176,000 after purchasing an additional 1,975 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Meta Platforms by 13.2% during the 4th quarter. Spire Wealth Management now owns 67,996 shares of the social networking company’s stock valued at $26,072,000 after purchasing an additional 7,942 shares in the last quarter. Metis Global Partners LLC lifted its holdings in shares of Meta Platforms by 14.9% during the 4th quarter. Metis Global Partners LLC now owns 120,776 shares of the social networking company’s stock valued at $42,750,000 after purchasing an additional 15,634 shares in the last quarter. Rollins Financial lifted its holdings in shares of Meta Platforms by 7.5% during the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after purchasing an additional 2,133 shares in the last quarter. Finally, Valley Brook Capital Group Inc. lifted its holdings in shares of Meta Platforms by 6.6% during the 4th quarter. Valley Brook Capital Group Inc. now owns 2,448 shares of the social networking company’s stock valued at $866,000 after purchasing an additional 152 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the sale, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $441.54, for a total value of $216,354.60. Following the completion of the sale, the chief operating officer now owns 6,599 shares of the company’s stock, valued at $2,913,722.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares in the company, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Insiders sold 1,222,926 shares of company stock valued at $597,174,351 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.5 %

Shares of META stock traded up $2.22 on Tuesday, hitting $467.90. The company had a trading volume of 8,351,764 shares, compared to its average volume of 18,235,824. The firm has a market cap of $1.19 trillion, a P/E ratio of 26.90, a P/E/G ratio of 1.18 and a beta of 1.21. The stock’s 50-day moving average is $490.40 and its two-hundred day moving average is $410.65. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a twelve month low of $230.27 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on META shares. Wolfe Research cut their target price on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. JMP Securities restated a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a research note on Monday, April 22nd. Jefferies Financial Group cut their target price on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Mizuho boosted their target price on Meta Platforms from $470.00 to $575.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, BNP Paribas initiated coverage on Meta Platforms in a research report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $509.80.

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.