Cascade Financial Partners LLC Sells 300 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cascade Financial Partners LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,652 shares of the social networking company’s stock after selling 300 shares during the quarter. Cascade Financial Partners LLC’s holdings in Meta Platforms were worth $3,858,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of META. Baird Financial Group Inc. lifted its stake in shares of 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 valued at $295,901,000 after buying an additional 163,067 shares in the last quarter. California State Teachers Retirement System raised its holdings in Meta Platforms by 1.5% during the fourth 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 during the period. Donoghue Forlines LLC lifted its position in shares of Meta Platforms by 94.4% in the fourth 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 boosted its stake in shares of Meta Platforms by 37.3% in the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after acquiring an additional 140,000 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. boosted its stake in shares of Meta Platforms by 400.0% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company’s stock worth $885,000 after acquiring an additional 2,000 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Meta Platforms stock opened at $511.76 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23. The firm has a market capitalization of $1.30 trillion, a P/E ratio of 29.39, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The company’s 50-day moving average is $505.32 and its 200 day moving average is $493.64.

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

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $536.92, for a total transaction of $221,747.96. Following the completion of the transaction, the chief operating officer now owns 14,424 shares in the company, valued at $7,744,534.08. The disclosure for this sale can be found here. Insiders have sold 392,082 shares of company stock worth $202,909,089 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on META shares. Bank of America boosted their price target on Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company upped their target price on shares of Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research note on Wednesday, July 24th. Citigroup increased their price objective on shares of Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Piper Sandler increased their price objective on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $574.41.

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.