Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Crestone Asset Management LLC

Crestone Asset Management LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,081 shares of the social networking company’s stock after selling 117 shares during the period. Crestone Asset Management LLC’s holdings in Meta Platforms were worth $383,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in META. FMR LLC lifted its stake in shares of Meta Platforms by 4.0% in the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after purchasing an additional 5,001,647 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Meta Platforms by 11,154.4% in the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after buying an additional 4,908,251 shares during the period. Concentrum Wealth Management boosted its stake in Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Meta Platforms by 55.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,632,631 shares of the social networking company’s stock valued at $2,591,602,000 after acquiring an additional 3,093,715 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of Meta Platforms by 1,457.5% in the 4th quarter. Cerity Partners LLC now owns 3,156,360 shares of the social networking company’s stock worth $1,117,225,000 after acquiring an additional 2,953,704 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on META shares. BMO Capital Markets boosted their price target on shares of Meta Platforms from $397.00 to $450.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. Citigroup dropped their target price on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus lifted their price target on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Wolfe Research cut their target price on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, Monness Crespi & Hardt lifted their price objective on Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $509.80.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 97,093 shares of Meta Platforms stock in a transaction on Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Javier Olivan sold 490 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $445.93, for a total transaction of $218,505.70. Following the transaction, the chief operating officer now owns 6,109 shares in the company, valued at approximately $2,724,186.37. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 97,093 shares of Meta Platforms stock in a transaction on Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,223,416 shares of company stock valued at $597,392,856. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded up $4.36 during trading on Wednesday, hitting $472.60. 11,658,333 shares of the stock were exchanged, compared to its average volume of 18,224,012. The stock has a market cap of $1.20 trillion, a PE ratio of 27.15, a P/E/G ratio of 1.18 and a beta of 1.21. The stock’s fifty day moving average is $490.03 and its 200 day moving average is $411.78. Meta Platforms, Inc. has a 12 month low of $230.72 and a 12 month high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping 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%. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.1 EPS for the current year.

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.