Fortis Capital Advisors LLC Buys 5,554 Shares of Meta Platforms, Inc. (NASDAQ:META)

Fortis Capital Advisors LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 144.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,394 shares of the social networking company’s stock after purchasing an additional 5,554 shares during the period. Meta Platforms accounts for about 1.8% of Fortis Capital Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Fortis Capital Advisors LLC’s holdings in Meta Platforms were worth $3,325,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in META. Intech Investment Management LLC raised its position in Meta Platforms by 16.8% in the fourth quarter. Intech Investment Management LLC now owns 484,858 shares of the social networking company’s stock worth $171,620,000 after acquiring an additional 69,802 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its stake in shares of Meta Platforms by 3.1% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 14,980 shares of the social networking company’s stock worth $5,302,000 after purchasing an additional 456 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of Meta Platforms by 1.3% in the 4th quarter. Primecap Management Co. CA now owns 677,725 shares of the social networking company’s stock worth $239,888,000 after purchasing an additional 8,800 shares in the last quarter. Johnson Financial Group Inc. lifted its stake in Meta Platforms by 12.5% during the fourth quarter. Johnson Financial Group Inc. now owns 10,657 shares of the social networking company’s stock valued at $3,772,000 after purchasing an additional 1,181 shares during the last quarter. Finally, Founders Financial Alliance LLC boosted its holdings in Meta Platforms by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 3,967 shares of the social networking company’s stock worth $1,404,000 after buying an additional 94 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on META shares. BNP Paribas started coverage on Meta Platforms in a report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 price target on the stock. Mizuho boosted their target price on Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Canaccord Genuity Group decreased their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Loop Capital dropped their price target on Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Citigroup reduced their price objective on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $509.80.

Insider Activity

In other news, CEO Mark Zuckerberg sold 77,412 shares of Meta Platforms stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $483.34, for a total transaction of $37,416,316.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Mark Zuckerberg sold 77,412 shares of the firm’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 transaction of $37,416,316.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Susan J. Li sold 8,951 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 $4,223,529.35. Following the completion of the sale, the chief financial officer now owns 74,580 shares in the company, valued at $35,190,573. The disclosure for this sale can be found here. In the last 90 days, insiders sold 886,466 shares of company stock worth $438,582,433. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

Shares of META stock traded up $12.44 during mid-day trading on Friday, reaching $478.22. The stock had a trading volume of 12,024,254 shares, compared to its average volume of 14,801,451. Meta Platforms, Inc. has a one year low of $249.17 and a one year high of $531.49. The firm has a market cap of $1.21 trillion, a PE ratio of 27.47, a P/E/G ratio of 1.24 and a beta of 1.21. The firm’s 50 day simple moving average is $484.07 and its 200 day simple moving average is $426.02. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. On average, analysts forecast that Meta Platforms, Inc. will post 20.18 EPS for the current year.

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.