Peddock Capital Advisors LLC Has $862,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Peddock Capital Advisors LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,434 shares of the social networking company’s stock after buying an additional 54 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Meta Platforms were worth $862,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Stone House Investment Management LLC boosted its holdings in Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the period. Beaird Harris Wealth Management LLC increased its stake in Meta Platforms by 68.9% during 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 period. PayPay Securities Corp raised its holdings in Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 43 shares in the last quarter. Cranbrook Wealth Management LLC lifted its position in shares of Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares during the period. Finally, Gilfoyle & Co LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $39,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of META traded up $3.80 during trading hours on Wednesday, reaching $472.04. The stock had a trading volume of 8,835,492 shares, compared to its average volume of 18,188,404. Meta Platforms, Inc. has a 12 month low of $230.72 and a 12 month high of $531.49. The company’s 50-day moving average is $490.03 and its two-hundred day moving average is $411.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market capitalization of $1.20 trillion, a PE ratio of 27.27, a PEG ratio of 1.18 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results 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. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Research analysts expect that Meta Platforms, Inc. will post 20.1 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the transaction, the insider now directly owns 36,643 shares in the company, valued at $15,794,965.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $441.54, for a total value of $216,354.60. Following the transaction, the chief operating officer now directly owns 6,599 shares of the company’s stock, valued at approximately $2,913,722.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the sale, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,223,416 shares of company stock valued at $597,392,856. 13.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on META shares. Canaccord Genuity Group cut their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Mizuho lifted their price objective on Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. BMO Capital Markets upped their price target on Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. 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 research note on Thursday, April 25th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $545.00 price objective (down from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Two investment 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $509.80.

About Meta Platforms

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.