Axa S.A. Has $47.23 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Axa S.A. trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 66.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,840 shares of the social networking company’s stock after selling 435,082 shares during the period. Axa S.A.’s holdings in Meta Platforms were worth $47,229,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Credit Suisse AG acquired a new position in Meta Platforms during the fourth quarter valued at approximately $481,262,000. Catalyst Financial Partners LLC boosted its position in Meta Platforms by 18.7% during the first quarter. Catalyst Financial Partners LLC now owns 4,287 shares of the social networking company’s stock valued at $909,000 after acquiring an additional 675 shares during the last quarter. Hall Capital Management Co. Inc. bought a new stake in Meta Platforms during the first quarter valued at $205,000. Audent Global Asset Management LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $392,000. Finally, Hunter Associates Investment Management LLC raised its holdings in shares of Meta Platforms by 5.4% during the first quarter. Hunter Associates Investment Management LLC now owns 1,939 shares of the social networking company’s stock valued at $411,000 after purchasing an additional 100 shares during the period. 62.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 8,032 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $2,459,318.08. Following the sale, the chief technology officer now owns 11,588 shares of the company’s stock, valued at approximately $3,548,129.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Jennifer Newstead sold 670 shares of Meta Platforms stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $297.45, for a total transaction of $199,291.50. Following the sale, the insider now owns 38,350 shares of the company’s stock, valued at approximately $11,407,207.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 8,032 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total transaction of $2,459,318.08. Following the sale, the chief technology officer now directly owns 11,588 shares in the company, valued at approximately $3,548,129.72. The disclosure for this sale can be found here. Insiders have sold a total of 41,231 shares of company stock valued at $12,468,122 in the last quarter. Insiders own 13.75% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $297.89 on Monday. The stock has a market cap of $766.52 billion, a PE ratio of 34.72, a PEG ratio of 0.98 and a beta of 1.23. The company’s fifty day moving average is $300.68 and its 200 day moving average is $255.21. Meta Platforms, Inc. has a 52 week low of $88.09 and a 52 week high of $326.20. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.14.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 26th. The social networking company reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.36. The company had revenue of $32 billion for the quarter, compared to analysts’ expectations of $30.91 billion. Meta Platforms had a net margin of 18.70% and a return on equity of 21.72%. Research analysts anticipate that Meta Platforms, Inc. will post 13.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Loop Capital upped their target price on shares of Meta Platforms from $365.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Tigress Financial upped their target price on shares of Meta Platforms from $285.00 to $380.00 in a report on Thursday, July 6th. Piper Sandler upped their target price on shares of Meta Platforms from $310.00 to $365.00 in a report on Thursday, July 27th. Mizuho increased their price objective on shares of Meta Platforms from $280.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Finally, Robert W. Baird increased their price objective on shares of Meta Platforms from $260.00 to $355.00 in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, forty-four have given a buy rating and one has assigned 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 $319.79.

Meta Platforms Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, 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, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.