Cypress Asset Management Inc. TX Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Cypress Asset Management Inc. TX acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 595 shares of the social networking company’s stock, valued at approximately $211,000.

Other hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC boosted its holdings in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in 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 acquiring an additional 42 shares during the last quarter. Quest Partners LLC acquired a new position in Meta Platforms in the fourth quarter valued at $32,000. Cranbrook Wealth Management LLC boosted its holdings in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after acquiring an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ META traded up $9.35 during midday trading on Friday, hitting $475.13. 8,664,181 shares of the company’s stock were exchanged, compared to its average volume of 17,440,773. 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’s 50 day moving average price is $484.18 and its 200-day moving average price is $424.15. The firm has a market cap of $1.21 trillion, a P/E ratio of 27.47, a PEG ratio of 1.21 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $249.17 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Equities research analysts anticipate that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 77,412 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $483.34, for a total value of $37,416,316.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 77,412 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $483.34, for a total value of $37,416,316.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the transaction, the chief technology officer now directly owns 15,412 shares in the company, valued at approximately $7,272,152.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 886,466 shares of company stock worth $438,582,433. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on META shares. BNP Paribas started coverage on Meta Platforms in a research note on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price objective on the stock. Canaccord Genuity Group reduced their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Canaccord Genuity Group boosted their price objective on Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Wedbush reduced their price objective on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, Truist Financial reduced their price objective on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $509.80.

Check Out Our Latest Research Report on META

Meta Platforms Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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