WP Advisors LLC Purchases 2,689 Shares of Meta Platforms, Inc. (NASDAQ:META)

WP Advisors LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,232 shares of the social networking company’s stock after acquiring an additional 2,689 shares during the quarter. Meta Platforms makes up approximately 5.9% of WP Advisors LLC’s portfolio, making the stock its 4th biggest position. WP Advisors LLC’s holdings in Meta Platforms were worth $18,773,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of META. Quest Partners LLC bought a new position in Meta Platforms during the 4th quarter worth $32,000. Clear Investment Research LLC raised its position in shares of Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Delos Wealth Advisors LLC raised its position in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms in the 2nd quarter worth about $38,000. Finally, Ruedi Wealth Management Inc. raised its position in shares of Meta Platforms by 122.2% in the 2nd 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 in the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $519.05, for a total value of $469,740.25. Following the sale, the insider now directly owns 39,627 shares of the company’s stock, valued at $20,568,394.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $519.05, for a total value of $469,740.25. Following the sale, the insider now directly owns 39,627 shares of the company’s stock, valued at $20,568,394.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. The disclosure for this sale can be found here. Insiders have sold 388,078 shares of company stock valued at $200,792,168 over the last ninety days. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

META has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Citigroup lifted their price objective on Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Oppenheimer boosted their target price on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley boosted their target price on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $574.41.

Meta Platforms Stock Up 0.6 %

Shares of NASDAQ:META opened at $521.31 on Monday. The stock’s 50-day moving average price is $504.85 and its 200-day moving average price is $493.11. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23. The stock has a market capitalization 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 current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

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

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.