Courier Capital LLC Has $429,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Courier Capital LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 35.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,022 shares of the social networking company’s stock after selling 1,108 shares during the quarter. Courier Capital LLC’s holdings in Meta Platforms were worth $429,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in META. BlackRock Inc. lifted its stake in shares of Meta Platforms by 0.8% in the first quarter. BlackRock Inc. now owns 152,934,920 shares of the social networking company’s stock worth $32,413,027,000 after acquiring an additional 1,172,997 shares during the period. Geode Capital Management LLC acquired a new position in shares of Meta Platforms in the fourth quarter worth approximately $5,424,543,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Meta Platforms by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,803,774 shares of the social networking company’s stock worth $8,859,893,000 after acquiring an additional 6,735,038 shares during the period. Norges Bank acquired a new position in shares of Meta Platforms in the fourth quarter worth approximately $4,223,148,000. Finally, Morgan Stanley acquired a new position in shares of Meta Platforms in the fourth quarter worth approximately $4,072,543,000. 62.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on META. Loop Capital lifted their price objective on Meta Platforms from $365.00 to $375.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Barclays lifted their target price on Meta Platforms from $320.00 to $410.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Citigroup lifted their target price on Meta Platforms from $360.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Oppenheimer lifted their target price on Meta Platforms from $350.00 to $385.00 in a report on Thursday, July 27th. Finally, Mizuho lifted their target price on Meta Platforms from $280.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $319.79.

Meta Platforms Stock Performance

NASDAQ:META opened at $305.06 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.32 and a current ratio of 2.32. Meta Platforms, Inc. has a 52-week low of $88.09 and a 52-week high of $326.20. The firm has a market cap of $784.97 billion, a price-to-earnings ratio of 35.55, a PEG ratio of 0.98 and a beta of 1.23. The business’s fifty day moving average is $301.64 and its 200 day moving average is $257.43.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 26th. The social networking company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. Research analysts predict that Meta Platforms, Inc. will post 13.17 EPS for the current year.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 10,643 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total transaction of $3,258,780.17. Following the sale, the chief financial officer now directly owns 91,617 shares in the company, valued at approximately $28,052,209.23. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 10,643 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total value of $3,258,780.17. Following the transaction, the chief financial officer now directly owns 91,617 shares in the company, valued at approximately $28,052,209.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Clegg sold 2,146 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total value of $657,083.74. Following the completion of the transaction, the insider now owns 12,631 shares in the company, valued at $3,867,485.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,509 shares of company stock worth $12,269,572. 13.75% of the stock is owned by company insiders.

Meta Platforms Company 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.