Interchange Capital Partners LLC Acquires 4,428 Shares of Meta Platforms, Inc. (NASDAQ:META)

Interchange Capital Partners LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 204.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,594 shares of the social networking company’s stock after acquiring an additional 4,428 shares during the quarter. Meta Platforms accounts for 1.2% of Interchange Capital Partners LLC’s portfolio, making the stock its 15th largest holding. Interchange Capital Partners LLC’s holdings in Meta Platforms were worth $3,325,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Delos Wealth Advisors LLC raised 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 purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. lifted its position in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the period. Richardson Financial Services Inc. boosted its stake in Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Meta Platforms in the fourth quarter valued at $32,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

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

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on META shares. The Goldman Sachs Group boosted their target price on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer boosted their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Tigress Financial raised their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Stifel Nicolaus boosted their target price on Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, KeyCorp increased their price target on Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two 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 issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $574.41.

Insider Activity

In related news, CEO Mark Zuckerberg sold 4,909 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $519.17, for a total value of $2,548,605.53. Following the sale, the chief executive officer now directly owns 519,000 shares of the company’s stock, valued at approximately $269,449,230. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 4,909 shares of Meta Platforms stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $519.17, for a total value of $2,548,605.53. Following the sale, the chief executive officer now owns 519,000 shares of the company’s stock, valued at approximately $269,449,230. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $492.98, for a total value of $203,107.76. Following the completion of the sale, the chief operating officer now owns 8,443 shares in the company, valued at $4,162,230.14. The disclosure for this sale can be found here. Insiders sold 392,082 shares of company stock worth $202,909,089 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Meta Platforms 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.