Hussman Strategic Advisors Inc. Reduces Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Hussman Strategic Advisors Inc. trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 25.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,300 shares of the social networking company’s stock after selling 2,100 shares during the period. Meta Platforms makes up 0.9% of Hussman Strategic Advisors Inc.’s investment portfolio, making the stock its 22nd largest holding. Hussman Strategic Advisors Inc.’s holdings in Meta Platforms were worth $3,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $32,000. Clear Investment Research LLC raised its position in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Delos Wealth Advisors LLC increased its position in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms in the 2nd quarter valued at about $38,000. Finally, Ruedi Wealth Management Inc. boosted its position in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 4,909 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $519.17, for a total transaction of $2,548,605.53. Following the sale, the chief executive officer now directly owns 519,000 shares of the company’s stock, valued at $269,449,230. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 4,909 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $519.17, for a total transaction of $2,548,605.53. Following the transaction, the chief executive officer now directly owns 519,000 shares in the company, valued at approximately $269,449,230. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The disclosure for this sale can be found here. Insiders sold 390,072 shares of company stock valued at $201,913,948 over the last ninety days. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 0.2 %

META opened at $512.74 on Thursday. The firm has a market cap of $1.30 trillion, a price-to-earnings ratio of 29.45, a PEG ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm’s 50-day simple moving average is $505.31 and its 200-day simple moving average is $493.77. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.23 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 21.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets restated a “market perform” rating and issued a $450.00 price target on shares of Meta Platforms in a report on Wednesday, June 12th. Raymond James boosted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 1st. Barclays upped their price target on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Benchmark restated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $574.41.

Meta Platforms Company 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.