Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Blume Capital Management Inc.

Blume Capital Management Inc. lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,537 shares of the social networking company’s stock after selling 2,019 shares during the period. Meta Platforms makes up approximately 2.3% of Blume Capital Management Inc.’s investment portfolio, making the stock its 14th largest holding. Blume Capital Management Inc.’s holdings in Meta Platforms were worth $8,685,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of META. Bogart Wealth LLC lifted its position in shares of Meta Platforms by 5.2% during the 4th quarter. Bogart Wealth LLC now owns 22,585 shares of the social networking company’s stock valued at $7,994,000 after buying an additional 1,109 shares in the last quarter. Moser Wealth Advisors LLC raised its stake in Meta Platforms by 5.0% in the 4th quarter. Moser Wealth Advisors LLC now owns 1,273 shares of the social networking company’s stock valued at $451,000 after purchasing an additional 61 shares during the last quarter. RMR Wealth Builders raised its stake in Meta Platforms by 5.8% in the 4th quarter. RMR Wealth Builders now owns 10,319 shares of the social networking company’s stock valued at $3,653,000 after purchasing an additional 564 shares during the last quarter. EdgeRock Capital LLC raised its stake in Meta Platforms by 18.5% in the 4th quarter. EdgeRock Capital LLC now owns 1,397 shares of the social networking company’s stock valued at $494,000 after purchasing an additional 218 shares during the last quarter. Finally, Everpar Advisors LLC acquired a new stake in shares of Meta Platforms in the 4th quarter worth $2,194,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the sale, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the sale, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares in the company, valued at approximately $20,043,756. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,223,416 shares of company stock worth $597,392,856. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

NASDAQ META traded up $0.74 during trading hours on Thursday, hitting $473.34. The company had a trading volume of 2,697,034 shares, compared to its average volume of 18,044,432. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.20 trillion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.21. Meta Platforms, Inc. has a fifty-two week low of $230.72 and a fifty-two week high of $531.49. The business has a fifty day simple moving average of $489.80 and a 200-day simple moving average of $412.20.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating 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 business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Equities analysts predict that Meta Platforms, Inc. will post 20.1 EPS for the current year.

Analyst Ratings Changes

META has been the subject of a number of recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $545.00 target price (down from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Evercore ISI increased their price target on Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Morgan Stanley increased their price target on Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Royal Bank of Canada lowered their price target on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, TD Cowen lowered their target price on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two equities research 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 issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $509.80.

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.