Outfitter Financial LLC Has $3.82 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Outfitter Financial LLC reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,570 shares of the social networking company’s stock after selling 240 shares during the quarter. Meta Platforms makes up about 3.2% of Outfitter Financial LLC’s portfolio, making the stock its 5th biggest holding. Outfitter Financial LLC’s holdings in Meta Platforms were worth $3,817,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Baird Financial Group Inc. lifted its holdings in Meta Platforms by 24.2% during the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after purchasing an additional 163,067 shares during the last quarter. California State Teachers Retirement System raised its holdings in Meta Platforms by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after acquiring an additional 51,900 shares in the last quarter. Donoghue Forlines LLC raised its holdings in Meta Platforms by 94.4% in the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after acquiring an additional 4,054 shares in the last quarter. Voyager Global Management LP raised its holdings in Meta Platforms by 37.3% in the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after acquiring an additional 140,000 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in shares of Meta Platforms by 400.0% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company’s stock worth $885,000 after buying an additional 2,000 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Up 0.6 %

META stock opened at $521.31 on Monday. The stock’s 50 day simple moving average is $504.85 and its 200 day simple moving average is $493.11. The company has a market cap of $1.32 trillion, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the firm posted $3.23 EPS. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. On average, research analysts expect that Meta Platforms, Inc. will post 21.3 earnings per share for the current fiscal year.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $519.05, for a total value of $469,740.25. Following the transaction, the insider now owns 39,627 shares of the company’s stock, valued at approximately $20,568,394.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $519.05, for a total value of $469,740.25. Following the completion of the sale, the insider now directly owns 39,627 shares of the company’s stock, valued at $20,568,394.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $492.98, for a total value of $203,107.76. Following the transaction, the chief operating officer now directly owns 8,443 shares in the company, valued at approximately $4,162,230.14. The disclosure for this sale can be found here. Insiders sold a total of 388,078 shares of company stock valued at $200,792,168 over the last three months. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research analyst reports. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a report on Wednesday, June 12th. Sanford C. Bernstein boosted their price target on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Loop Capital boosted their price target on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Jefferies Financial Group boosted their price target on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Bank of America upped their target price on Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.