Alcosta Capital Management Inc. Sells 525 Shares of Meta Platforms, Inc. (NASDAQ:META)

Alcosta Capital Management Inc. reduced its position in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,435 shares of the social networking company’s stock after selling 525 shares during the period. Meta Platforms accounts for approximately 3.7% of Alcosta Capital Management Inc.’s holdings, making the stock its 11th biggest position. Alcosta Capital Management Inc.’s holdings in Meta Platforms were worth $5,211,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Independent Wealth Network Inc. lifted its holdings in shares of Meta Platforms by 1.8% during the fourth quarter. Independent Wealth Network Inc. now owns 3,102 shares of the social networking company’s stock worth $1,043,000 after buying an additional 56 shares during the last quarter. Vaughan David Investments LLC IL increased its position in Meta Platforms by 4.4% during the fourth quarter. Vaughan David Investments LLC IL now owns 2,101 shares of the social networking company’s stock worth $707,000 after acquiring an additional 88 shares during the period. Associated Banc Corp raised its stake in Meta Platforms by 1.4% during the 4th quarter. Associated Banc Corp now owns 130,507 shares of the social networking company’s stock valued at $43,896,000 after purchasing an additional 1,749 shares during the last quarter. Woodard & Co. Asset Management Group Inc. ADV boosted its holdings in Meta Platforms by 8.1% in the 4th quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 2,348 shares of the social networking company’s stock valued at $790,000 after purchasing an additional 176 shares during the period. Finally, Summitry LLC grew its position in Meta Platforms by 0.7% in the 4th quarter. Summitry LLC now owns 264,288 shares of the social networking company’s stock worth $88,893,000 after purchasing an additional 1,921 shares during the last quarter. 61.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on META. StockNews.com initiated coverage on shares of Meta Platforms in a research note on Monday, July 4th. They issued a “hold” rating for the company. Itaú Unibanco initiated coverage on Meta Platforms in a research report on Tuesday, July 26th. They issued a “market perform” rating and a $188.00 price objective for the company. Piper Sandler lowered their price objective on Meta Platforms from $220.00 to $190.00 and set a “neutral” rating on the stock in a research report on Thursday, July 28th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $255.00 target price on shares of Meta Platforms in a research report on Thursday, August 4th. Finally, Evercore ISI lowered their price target on shares of Meta Platforms from $280.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $254.78.

Insider Activity

In related news, CTO Andrew Bosworth sold 11,718 shares of Meta Platforms stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $180.50, for a total transaction of $2,115,099.00. Following the transaction, the chief technology officer now owns 14,671 shares of the company’s stock, valued at approximately $2,648,115.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 342 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $160.06, for a total value of $54,740.52. Following the completion of the sale, the insider now directly owns 22,980 shares in the company, valued at $3,678,178.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 11,718 shares of Meta Platforms stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $180.50, for a total value of $2,115,099.00. Following the transaction, the chief technology officer now owns 14,671 shares in the company, valued at approximately $2,648,115.50. The disclosure for this sale can be found here. Insiders sold a total of 48,276 shares of company stock valued at $8,576,396 in the last ninety days. 13.59% of the stock is owned by insiders.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $169.15 on Friday. The firm has a fifty day moving average of $168.23 and a two-hundred day moving average of $174.03. The stock has a market capitalization of $454.60 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 2.13 and a beta of 1.30. Meta Platforms, Inc. has a 52 week low of $154.25 and a 52 week high of $383.79.

Meta Platforms (NASDAQ:METAGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The social networking company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.04). Meta Platforms had a return on equity of 26.52% and a net margin of 28.16%. The company had revenue of $28.82 billion for the quarter, compared to analyst estimates of $28.95 billion. During the same period last year, the firm earned $3.61 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, research analysts forecast that Meta Platforms, Inc. will post 9.58 EPS for the current fiscal year.

Meta Platforms Profile

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

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