Gerber Kawasaki Wealth & Investment Management Has $1.47 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Gerber Kawasaki Wealth & Investment Management lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,947 shares of the social networking company’s stock after purchasing an additional 182 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Meta Platforms were worth $1,472,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of META. BlackRock Inc. raised its position in Meta Platforms by 0.8% in the 1st quarter. BlackRock Inc. now owns 152,934,920 shares of the social networking company’s stock valued at $32,413,027,000 after buying an additional 1,172,997 shares during the last quarter. Geode Capital Management LLC acquired a new stake in Meta Platforms in the 4th quarter valued at approximately $5,424,543,000. Price T Rowe Associates Inc. MD raised its position in Meta Platforms by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,803,774 shares of the social networking company’s stock valued at $8,859,893,000 after buying an additional 6,735,038 shares during the last quarter. Norges Bank acquired a new stake in Meta Platforms in the 4th quarter valued at approximately $4,223,148,000. Finally, Morgan Stanley acquired a new stake in Meta Platforms in the 4th quarter valued at approximately $4,072,543,000. Institutional investors and hedge funds own 62.87% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on META. Tigress Financial boosted their price target on Meta Platforms from $285.00 to $380.00 in a research report on Thursday, July 6th. Deutsche Bank Aktiengesellschaft boosted their price target on Meta Platforms from $290.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, July 12th. Morgan Stanley boosted their price target on Meta Platforms from $350.00 to $375.00 in a research report on Thursday, July 27th. Mizuho boosted their price target on Meta Platforms from $280.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Finally, New Street Research raised Meta Platforms from a “neutral” rating to a “buy” rating and set a $350.00 price target on the stock in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, forty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.79.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 722 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $278.73, for a total transaction of $201,243.06. Following the sale, the insider now owns 35,200 shares in the company, valued at approximately $9,811,296. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO Javier Olivan sold 7,636 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total value of $2,338,066.84. Following the completion of the sale, the chief operating officer now directly owns 83,536 shares of the company’s stock, valued at $25,577,887.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 722 shares of the stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $278.73, for a total value of $201,243.06. Following the completion of the sale, the insider now directly owns 35,200 shares of the company’s stock, valued at $9,811,296. The disclosure for this sale can be found here. Insiders have sold a total of 40,509 shares of company stock worth $12,269,572 in the last 90 days. Corporate insiders own 13.75% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $301.66 on Wednesday. The business has a 50-day simple moving average of $301.12 and a two-hundred day simple moving average of $256.17. Meta Platforms, Inc. has a 12-month low of $88.09 and a 12-month high of $326.20. The stock has a market cap of $776.22 billion, a PE ratio of 35.16, a PEG ratio of 0.98 and a beta of 1.23. 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 announced its earnings results on Wednesday, July 26th. The social networking company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.87 by $0.36. Meta Platforms had a return on equity of 21.72% and a net margin of 18.70%. The company had revenue of $32 billion for the quarter, compared to analyst estimates of $30.91 billion. Analysts anticipate that Meta Platforms, Inc. will post 13.17 earnings per share for the current fiscal year.

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.