Clearwater Capital Advisors LLC Raises Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Clearwater Capital Advisors LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 887 shares of the social networking company’s stock after acquiring an additional 49 shares during the period. Clearwater Capital Advisors LLC’s holdings in Meta Platforms were worth $314,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of META. National Pension Service raised its holdings in Meta Platforms by 2.1% during the fourth quarter. National Pension Service now owns 3,686,288 shares of the social networking company’s stock worth $1,304,798,000 after purchasing an additional 74,160 shares during the last quarter. Verus Financial Partners Inc. acquired a new position in shares of Meta Platforms during the 4th quarter worth $217,000. Bogart Wealth LLC grew its stake in Meta Platforms by 5.2% in the 4th quarter. Bogart Wealth LLC now owns 22,585 shares of the social networking company’s stock valued at $7,994,000 after acquiring an additional 1,109 shares during the last quarter. Moser Wealth Advisors LLC increased its holdings in Meta Platforms by 5.0% during the 4th quarter. Moser Wealth Advisors LLC now owns 1,273 shares of the social networking company’s stock valued at $451,000 after acquiring an additional 61 shares in the last quarter. Finally, RMR Wealth Builders raised its position in Meta Platforms by 5.8% during the fourth quarter. RMR Wealth Builders now owns 10,319 shares of the social networking company’s stock worth $3,653,000 after acquiring an additional 564 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 490 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70. Following the transaction, the chief operating officer now owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at approximately $39,015,070.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 34,398 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $469.69, for a total transaction of $16,156,396.62. The disclosure for this sale can be found here. Insiders sold a total of 1,223,416 shares of company stock valued at $597,392,856 over the last three months. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. BNP Paribas initiated coverage on shares of Meta Platforms in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price for the company. Robert W. Baird lowered their price target on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Roth Mkm lifted their target price on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Two research 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 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 $509.80.

Meta Platforms Stock Up 0.5 %

Shares of NASDAQ:META traded up $2.49 during midday trading on Thursday, reaching $475.09. The company had a trading volume of 7,231,640 shares, compared to its average volume of 18,100,129. Meta Platforms, Inc. has a one year low of $230.72 and a one year high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a market capitalization of $1.21 trillion, a P/E ratio of 27.24, a PEG ratio of 1.18 and a beta of 1.21. The stock’s fifty day moving average price is $489.80 and its 200-day moving average price is $412.20.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Equities research analysts expect that Meta Platforms, Inc. will post 20.1 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.