Glassy Mountain Advisors Inc. Acquires Shares of 230 Meta Platforms, Inc. (NASDAQ:META)

Glassy Mountain Advisors Inc. bought a new stake in Meta Platforms, Inc. (NASDAQ:META – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 230 shares of the social networking company’s stock, valued at approximately $28,000.

Other institutional investors also recently modified their holdings of the company. MinichMacGregor Wealth Management LLC bought a new stake in Meta Platforms during the fourth quarter worth about $48,000. Fairfield Bush & CO. bought a new position in shares of Meta Platforms during the 1st quarter worth approximately $66,000. Bramshill Investments LLC bought a new position in shares of Meta Platforms during the 2nd quarter worth approximately $97,000. West Financial Advisors LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $117,000. Finally, Heritage Wealth Management LLC bought a new position in shares of Meta Platforms during the 2nd quarter worth approximately $146,000. Institutional investors own 60.92% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 342 shares of the company’s stock in a transaction on Wednesday, December 28th. The shares were sold at an average price of $116.44, for a total value of $39,822.48. Following the transaction, the insider now directly owns 25,819 shares in the company, valued at $3,006,364.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jennifer Newstead sold 342 shares of the business’s stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of $116.44, for a total value of $39,822.48. Following the completion of the sale, the insider now owns 25,819 shares of the company’s stock, valued at $3,006,364.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Marne L. Levine sold 23,317 shares of the business’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $191.00, for a total transaction of $4,453,547.00. Following the completion of the sale, the insider now directly owns 4,136 shares of the company’s stock, valued at approximately $789,976. The disclosure for this sale can be found here. Insiders have sold a total of 68,342 shares of company stock worth $12,285,012 over the last ninety days. Insiders own 14.03% of the company’s stock.

Meta Platforms Stock Down 4.5 %

Meta Platforms stock opened at $195.61 on Friday. The company’s 50 day simple moving average is $166.42 and its 200 day simple moving average is $140.22. Meta Platforms, Inc. has a fifty-two week low of $88.09 and a fifty-two week high of $236.86. The firm has a market capitalization of $507.15 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.87 and a beta of 1.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.20 and a quick ratio of 2.20.

Meta Platforms (NASDAQ:META – Get Rating) last posted its quarterly earnings data on Wednesday, February 1st. The social networking company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.88. The company had revenue of $32.17 billion for the quarter, compared to the consensus estimate of $31.69 billion. Meta Platforms had a net margin of 19.90% and a return on equity of 21.23%. The firm’s revenue was down 4.5% compared to the same quarter last year. During the same period last year, the company earned $3.67 earnings per share. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 10.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on META. Barclays increased their target price on Meta Platforms from $165.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. The Goldman Sachs Group raised their target price on Meta Platforms from $164.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. Wolfe Research lifted their price objective on Meta Platforms from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday. Morgan Stanley lifted their price objective on Meta Platforms from $130.00 to $190.00 and gave the stock an “equal weight” rating in a report on Thursday, February 2nd. Finally, Loop Capital raised their target price on Meta Platforms from $165.00 to $188.00 and gave the stock a “hold” rating in a research note on Wednesday, February 8th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $209.27.

Meta Platforms Profile

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Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.