MUFG Securities EMEA plc lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 46.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 663,754 shares of the social networking company’s stock after purchasing an additional 210,413 shares during the period. Meta Platforms accounts for 2.4% of MUFG Securities EMEA plc’s investment portfolio, making the stock its 3rd biggest holding. MUFG Securities EMEA plc’s holdings in Meta Platforms were worth $147,592,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of META. Landmark Wealth Management LLC purchased a new stake in shares of Meta Platforms during the 1st quarter worth approximately $26,000. Disciplined Investments LLC boosted its holdings in Meta Platforms by 583.3% in the 1st quarter. Disciplined Investments LLC now owns 123 shares of the social networking company’s stock worth $27,000 after buying an additional 105 shares during the period. Rise Advisors LLC bought a new position in Meta Platforms in the 4th quarter worth approximately $28,000. Comprehensive Financial Consultants Institutional Inc. bought a new position in Meta Platforms in the 4th quarter worth approximately $31,000. Finally, Dravo Bay LLC bought a new position in Meta Platforms in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 61.70% of the company’s stock.
In other news, insider Jennifer Newstead sold 342 shares of Meta Platforms stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $166.11, for a total transaction of $56,809.62. Following the sale, the insider now owns 18,773 shares of the company’s stock, valued at approximately $3,118,383.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jennifer Newstead sold 342 shares of the business’s stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $166.11, for a total transaction of $56,809.62. Following the sale, the insider now owns 18,773 shares of the company’s stock, valued at $3,118,383.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 17,428 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $176.48, for a total transaction of $3,075,693.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,592 shares of company stock valued at $8,462,928. Corporate insiders own 13.59% of the company’s stock.
Meta Platforms Trading Down 9.4 %
Meta Platforms (NASDAQ:META – Get Rating) last announced its earnings results on Wednesday, July 27th. The social networking company reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.04). The company had revenue of $28.82 billion for the quarter, compared to the consensus estimate of $28.95 billion. Meta Platforms had a net margin of 28.16% and a return on equity of 26.52%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.61 EPS. Equities analysts predict that Meta Platforms, Inc. will post 9.59 EPS for the current year.
Analyst Ratings Changes
Several research analysts recently commented on META shares. Atlantic Securities set a $215.00 price objective on shares of Meta Platforms in a report on Tuesday, July 19th. Rosenblatt Securities cut their price objective on shares of Meta Platforms from $156.00 to $154.00 and set a “neutral” rating for the company in a report on Wednesday, September 7th. Credit Suisse Group cut their price target on shares of Meta Platforms from $245.00 to $214.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. Moffett Nathanson cut their price target on shares of Meta Platforms to $280.00 in a report on Thursday, May 26th. Finally, Morgan Stanley cut their price target on shares of Meta Platforms from $280.00 to $225.00 and set an “overweight” rating for the company in a report on Friday, August 19th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $254.46.
Meta Platforms Company Profile
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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