Emfo LLC Has $2.12 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Emfo LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,199 shares of the social networking company’s stock after buying an additional 412 shares during the period. Meta Platforms comprises approximately 1.9% of Emfo LLC’s investment portfolio, making the stock its 11th biggest position. Emfo LLC’s holdings in Meta Platforms were worth $2,117,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of META. Quest Partners LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth $32,000. Clear Investment Research LLC raised its position in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Delos Wealth Advisors LLC increased its stake in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the second quarter worth about $38,000. Finally, Ruedi Wealth Management Inc. lifted its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the sale, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 354,155 shares of company stock worth $183,221,085. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $516.78 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $544.23. The firm has a market capitalization of $1.31 trillion, a P/E ratio of 29.68, a PEG ratio of 1.27 and a beta of 1.21. The business has a fifty day moving average price of $503.99 and a 200-day moving average price of $492.19.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period last year, the business earned $3.23 earnings per share. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Analyst Ratings Changes

META has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their target price on shares of Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their target price on Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JMP Securities reiterated a “market outperform” rating and issued a $525.00 target price on shares of Meta Platforms in a report on Tuesday, July 30th. Rosenblatt Securities increased their price target on Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Wedbush reiterated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

About Meta Platforms

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.