Provident Investment Management Inc. Lowers Position in Meta Platforms, Inc. $META

Posted by Paula Ricardo on May 22nd, 2026

Provident Investment Management Inc. cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 64,134 shares of the social networking company’s stock after selling 1,891 shares during the quarter. Meta Platforms accounts for about 3.9% of Provident Investment Management Inc.’s investment portfolio, making the stock its 13th largest holding. Provident Investment Management Inc.’s holdings in Meta Platforms were worth $42,334,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Meta Platforms by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock worth $132,015,115,000 after acquiring an additional 7,269,279 shares in the last quarter. State Street Corp lifted its stake in Meta Platforms by 1.9% during the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock worth $64,158,971,000 after acquiring an additional 1,650,435 shares in the last quarter. Danske Bank A S acquired a new position in Meta Platforms during the 3rd quarter worth about $1,191,175,000. PFA Pension Forsikringsaktieselskab acquired a new position in Meta Platforms during the 4th quarter worth about $813,994,000. Finally, Concentrum Wealth Management lifted its stake in Meta Platforms by 948.7% during the 3rd quarter. Concentrum Wealth Management now owns 1,243,577 shares of the social networking company’s stock worth $913,000 after acquiring an additional 1,124,998 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

META stock opened at $607.38 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 22.08, a P/E/G ratio of 1.07 and a beta of 1.25. The business’s 50-day moving average is $618.57 and its two-hundred day moving average is $637.18. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $796.25.

Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.67 by $3.77. The company had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.Meta Platforms’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter last year, the company earned $6.43 EPS. Analysts anticipate that Meta Platforms, Inc. will post 29.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 9,195 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $607.84, for a total value of $5,589,088.80. Following the sale, the chief financial officer owned 13,186 shares of the company’s stock, valued at $8,014,978.24. This trade represents a 41.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Andrew Bosworth sold 7,847 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the completion of the sale, the chief technology officer directly owned 414 shares in the company, valued at $251,641.62. This represents a 94.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 152,728 shares of company stock valued at $96,925,217 in the last quarter. Corporate insiders own 13.53% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on META. Canaccord Genuity Group increased their target price on Meta Platforms from $900.00 to $930.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. UBS Group decreased their target price on Meta Platforms from $908.00 to $865.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Arete Research reissued a “neutral” rating on shares of Meta Platforms in a research note on Thursday, March 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Meta Platforms in a research note on Friday, March 27th. Finally, TD Cowen decreased their target price on Meta Platforms from $820.00 to $800.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $840.19.

View Our Latest Stock Analysis on Meta Platforms

More Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

Positive Sentiment: Several bullish takes argue Meta is undervalued relative to its earnings power, with strong profitability, buybacks, and AI investments that could support long-term growth if the company’s spending translates into revenue. Meta Platforms: A Call Option On The AI Race
Positive Sentiment: Meta’s AI and product rollout efforts remain active, including expanded AI features in WhatsApp and renewed focus on smart glasses, which reinforce its long-term AI and AR strategy. Meta Platforms, Inc. (META) Expands AI Private Chats and Renewable Energy Deals
Positive Sentiment: Analysts still see upside, with Wells Fargo only slightly trimming its target while maintaining an Overweight rating, suggesting Wall Street remains constructive on Meta’s AI infrastructure bet. Wells Fargo Trims Meta Platforms Price Target to $765
Neutral Sentiment: Meta settled the first U.S. school-district lawsuit tied to social media addiction, reducing legal overhang for now, though broader litigation risk remains unresolved. Meta settles first US case over school costs tied to youth mental health
Neutral Sentiment: CEO Mark Zuckerberg said he does not expect more companywide layoffs this year, which may calm employees but is unlikely to materially change the stock’s near-term outlook. Exclusive: Meta CEO tells employees he does not expect more company-wide layoffs this year
Neutral Sentiment: Meta also continues to see insider sales and debate around layoffs, but those moves were largely tied to pre-arranged tax-withholding plans and are less likely to be a major market signal. Susan Li Sells 2,127 Shares of Meta Platforms
Negative Sentiment: Meta’s biggest drag remains its aggressive AI spending, with 2026 capex guidance still extremely high and investors questioning whether layoffs will generate enough savings to offset that bill. Meta Platforms 10% Layoff Raises a Bigger Question About AI Spending
Negative Sentiment: The company’s 10% workforce reduction and related restructuring have raised concerns about morale, execution risk, and whether management is cutting costs fast enough to support AI investments. Meta Begins Laying Off Thousands of Employees as It Transforms Around AI
Negative Sentiment: Meta is also facing fresh regulatory and legal scrutiny, including EU complaints over handling financial scams and ongoing criticism tied to youth mental-health lawsuits. Google, Meta, TikTok face EU consumer complaints about handling of financial scams

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.