SBI Securities Co. Ltd. Acquires 926 Shares of Meta Platforms, Inc. $META

SBI Securities Co. Ltd. increased its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 58,813 shares of the social networking company’s stock after purchasing an additional 926 shares during the period. Meta Platforms accounts for 1.0% of SBI Securities Co. Ltd.’s investment portfolio, making the stock its 17th largest holding. SBI Securities Co. Ltd.’s holdings in Meta Platforms were worth $38,822,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Westchester Capital Management Inc. bought a new position in Meta Platforms in the 3rd quarter worth approximately $26,000. Key Capital Management INC bought a new position in Meta Platforms in the 4th quarter worth approximately $48,000. Fairway Wealth LLC boosted its holdings in Meta Platforms by 36.8% in the 4th quarter. Fairway Wealth LLC now owns 78 shares of the social networking company’s stock worth $51,000 after buying an additional 21 shares during the period. Evergreen Private Wealth LLC boosted its holdings in Meta Platforms by 64.8% in the 3rd quarter. Evergreen Private Wealth LLC now owns 89 shares of the social networking company’s stock worth $65,000 after buying an additional 35 shares during the period. Finally, PMV Capital Advisers LLC boosted its holdings in Meta Platforms by 26.3% in the 4th quarter. PMV Capital Advisers LLC now owns 96 shares of the social networking company’s stock worth $63,000 after buying an additional 20 shares during the period. 79.91% of the stock is owned by institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, Director Robert M. Kimmitt sold 580 shares of Meta Platforms stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $667.00, for a total transaction of $386,860.00. Following the completion of the sale, the director directly owned 3,847 shares in the company, valued at $2,565,949. The trade was a 13.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 926 shares of Meta Platforms stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $604.57, for a total transaction of $559,831.82. Following the sale, the chief operating officer owned 6,853 shares of the company’s stock, valued at approximately $4,143,118.21. The trade was a 11.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 169,231 shares of company stock valued at $108,239,954. 13.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

META has been the subject of a number of analyst reports. Argus restated a “buy” rating and issued a $800.00 price objective on shares of Meta Platforms in a research report on Monday, February 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Meta Platforms in a research report on Friday, March 27th. Truist Financial cut their price objective on shares of Meta Platforms from $900.00 to $840.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Cantor Fitzgerald cut their price objective on shares of Meta Platforms from $850.00 to $750.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, Stifel Nicolaus cut their price objective on shares of Meta Platforms from $805.00 to $780.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $840.31.

View Our Latest Stock Analysis on Meta Platforms

Meta Platforms Trading Down 0.7%

Shares of Meta Platforms stock opened at $614.23 on Friday. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $796.25. The firm has a market cap of $1.55 trillion, a PE ratio of 22.33, a PEG ratio of 1.08 and a beta of 1.25. 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 company has a 50 day simple moving average of $622.18 and a two-hundred day simple moving average of $640.72.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. During the same period in the previous year, the business posted $6.43 earnings per share. Meta Platforms’s revenue for the quarter was up 33.1% on a year-over-year basis. Analysts expect that Meta Platforms, Inc. will post 29.65 earnings per share for the current fiscal year.

Meta Platforms News Roundup

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Meta Platforms 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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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