Blue Fin Capital Inc. decreased its holdings in Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 13.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 33,153 shares of the social networking company’s stock after selling 5,167 shares during the period. Meta Platforms makes up about 2.1% of Blue Fin Capital Inc.’s portfolio, making the stock its 8th biggest position. Blue Fin Capital Inc.’s holdings in Meta Platforms were worth $7,371,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Autus Asset Management LLC increased its holdings in shares of Meta Platforms by 5.4% during the fourth quarter. Autus Asset Management LLC now owns 643 shares of the social networking company’s stock worth $217,000 after buying an additional 33 shares in the last quarter. Well Done LLC raised its position in Meta Platforms by 1.9% in the fourth quarter. Well Done LLC now owns 1,829 shares of the social networking company’s stock valued at $615,000 after purchasing an additional 34 shares during the last quarter. JGP Wealth Management LLC boosted its stake in shares of Meta Platforms by 1.9% during the fourth quarter. JGP Wealth Management LLC now owns 1,903 shares of the social networking company’s stock valued at $617,000 after purchasing an additional 36 shares in the last quarter. Segall Bryant & Hamill LLC grew its holdings in shares of Meta Platforms by 0.8% during the third quarter. Segall Bryant & Hamill LLC now owns 4,993 shares of the social networking company’s stock worth $1,694,000 after purchasing an additional 40 shares during the last quarter. Finally, TruWealth Advisors LLC raised its holdings in Meta Platforms by 2.8% in the 4th quarter. TruWealth Advisors LLC now owns 1,465 shares of the social networking company’s stock valued at $493,000 after buying an additional 40 shares during the last quarter. 65.49% of the stock is owned by institutional investors.
META has been the subject of several analyst reports. Moffett Nathanson dropped their price target on shares of Meta Platforms to $280.00 in a research note on Thursday, May 26th. Raymond James cut their target price on Meta Platforms from $340.00 to $290.00 in a report on Thursday, April 28th. Susquehanna reduced their price target on Meta Platforms from $375.00 to $290.00 in a research report on Thursday, April 28th. Canaccord Genuity Group lowered their price objective on Meta Platforms from $360.00 to $330.00 in a research report on Thursday, April 28th. Finally, Royal Bank of Canada reduced their target price on Meta Platforms from $245.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 13th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $305.87.
Meta Platforms (NASDAQ:META – Get Rating) last issued its earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.18. The firm had revenue of $27.91 billion for the quarter, compared to analysts’ expectations of $28.21 billion. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. During the same quarter last year, the business earned $3.30 earnings per share. Equities analysts expect that Meta Platforms, Inc. will post 11.63 earnings per share for the current year.
In other Meta Platforms news, CTO Andrew Bosworth sold 11,718 shares of the firm’s stock in a transaction dated Sunday, May 15th. The shares were sold at an average price of $198.62, for a total value of $2,327,429.16. Following the completion of the sale, the chief technology officer now directly owns 11,913 shares in the company, valued at $2,366,160.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 342 shares of the stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $165.89, for a total value of $56,734.38. Following the completion of the transaction, the insider now directly owns 19,115 shares of the company’s stock, valued at approximately $3,170,987.35. The disclosure for this sale can be found here. Insiders sold 45,698 shares of company stock worth $9,181,081 over the last three months. 13.59% of the stock is owned by insiders.
Meta Platforms Company Profile (Get Rating)
Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
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