Hexagon Capital Partners LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 5.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,330 shares of the social networking company’s stock after buying an additional 3,100 shares during the quarter. Meta Platforms accounts for about 3.8% of Hexagon Capital Partners LLC’s holdings, making the stock its 4th biggest holding. Hexagon Capital Partners LLC’s holdings in Meta Platforms were worth $14,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Widmann Financial Services Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $100,000. EFG Asset Management North America Corp. acquired a new position in Meta Platforms during the 4th quarter worth approximately $7,032,000. Pacer Advisors Inc. increased its position in shares of Meta Platforms by 149.1% in the 1st quarter. Pacer Advisors Inc. now owns 506,232 shares of the social networking company’s stock valued at $112,566,000 after purchasing an additional 303,001 shares during the last quarter. Steigerwald Gordon & Koch Inc. increased its holdings in Meta Platforms by 4.1% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 2,012 shares of the social networking company’s stock valued at $677,000 after buying an additional 80 shares during the last quarter. Finally, Colony Group LLC raised its position in shares of Meta Platforms by 13.7% during the 3rd quarter. Colony Group LLC now owns 27,256 shares of the social networking company’s stock worth $9,250,000 after acquiring an additional 3,287 shares in the last quarter. 65.49% of the stock is currently owned by institutional investors and hedge funds.
META has been the subject of several research reports. Mizuho reduced their target price on Meta Platforms from $425.00 to $325.00 and set a “buy” rating for the company in a report on Monday, April 25th. Truist Financial lowered their price target on Meta Platforms from $350.00 to $320.00 in a report on Thursday, April 28th. Canaccord Genuity Group decreased their price objective on Meta Platforms from $360.00 to $330.00 in a research report on Thursday, April 28th. Rosenblatt Securities started coverage on shares of Meta Platforms in a report on Tuesday, April 19th. They issued a “neutral” rating and a $228.00 target price on the stock. Finally, UBS Group cut their price target on shares of Meta Platforms from $310.00 to $215.00 and set a “buy” rating for the company in a report on Thursday, June 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.87.
Shares of META stock opened at $155.85 on Thursday. The company has a market capitalization of $421.78 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 1.23 and a beta of 1.37. The company has a 50-day simple moving average of $190.82 and a two-hundred day simple moving average of $239.46. Meta Platforms, Inc. has a 52-week low of $155.44 and a 52-week high of $384.33.
Meta Platforms (NASDAQ:META – Get Rating) last released its earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.18. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. The business had revenue of $27.91 billion during the quarter, compared to the consensus estimate of $28.21 billion. During the same period last year, the business posted $3.30 earnings per share. As a group, research analysts predict that Meta Platforms, Inc. will post 11.63 earnings per share for the current fiscal year.
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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