Traynor Capital Management Inc. increased its position in shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 5.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,581 shares of the social networking company’s stock after purchasing an additional 200 shares during the period. Traynor Capital Management Inc.’s holdings in Meta Platforms were worth $796,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of META. Capital Investment Advisors LLC lifted its holdings in Meta Platforms by 4.8% in the first quarter. Capital Investment Advisors LLC now owns 9,643 shares of the social networking company’s stock valued at $2,144,000 after acquiring an additional 440 shares during the last quarter. TIAA FSB grew its holdings in shares of Meta Platforms by 27.6% during the 1st quarter. TIAA FSB now owns 317,993 shares of the social networking company’s stock worth $70,489,000 after purchasing an additional 68,700 shares during the period. Carret Asset Management LLC grew its holdings in shares of Meta Platforms by 5.8% during the 1st quarter. Carret Asset Management LLC now owns 42,979 shares of the social networking company’s stock worth $9,557,000 after purchasing an additional 2,365 shares during the period. Wealthcare Capital Management LLC increased its position in shares of Meta Platforms by 64.7% during the 1st quarter. Wealthcare Capital Management LLC now owns 1,265 shares of the social networking company’s stock worth $281,000 after purchasing an additional 497 shares during the last quarter. Finally, Griffin Asset Management Inc. raised its holdings in Meta Platforms by 5.4% in the 1st quarter. Griffin Asset Management Inc. now owns 14,112 shares of the social networking company’s stock valued at $3,138,000 after buying an additional 728 shares during the period. Institutional investors own 65.49% of the company’s stock.
META stock opened at $155.85 on Thursday. Meta Platforms, Inc. has a one year low of $155.44 and a one year high of $384.33. The company has a fifty day moving average of $190.82 and a 200-day moving average of $239.46. The stock has a market capitalization of $421.78 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37.
A number of equities analysts recently weighed in on META shares. Royal Bank of Canada lowered their price objective on shares of Meta Platforms from $245.00 to $240.00 and set an “outperform” rating for the company in a research report on Wednesday, April 13th. Wedbush lowered their price target on Meta Platforms from $270.00 to $220.00 in a research report on Thursday, April 28th. The Goldman Sachs Group cut their price objective on Meta Platforms from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, June 9th. Canaccord Genuity Group lowered their target price on Meta Platforms from $360.00 to $330.00 in a report on Thursday, April 28th. Finally, StockNews.com assumed coverage on shares of Meta Platforms in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $305.87.
In other Meta Platforms news, insider Jennifer Newstead sold 476 shares of the business’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $233.92, for a total transaction of $111,345.92. Following the sale, the insider now directly owns 14,402 shares in the company, valued at $3,368,915.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Susan J.S. Taylor sold 1,420 shares of the stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $202.16, for a total transaction of $287,067.20. Following the completion of the sale, the chief accounting officer now owns 1,605 shares in the company, valued at $324,466.80. The disclosure for this sale can be found here. Insiders have sold 45,698 shares of company stock worth $9,181,081 in the last ninety days. 13.59% of the stock is currently owned by corporate insiders.
Meta Platforms 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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