Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 14.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,182 shares of the social networking company’s stock after purchasing an additional 1,631 shares during the quarter. Meta Platforms accounts for about 1.5% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 16th largest holding. Turtle Creek Wealth Advisors LLC’s holdings in Meta Platforms were worth $6,647,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. Capital World Investors increased its stake in Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after buying an additional 244,803 shares in the last quarter. Capital International Investors raised its holdings in shares of Meta Platforms by 3.2% during the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after acquiring an additional 1,083,719 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after acquiring an additional 4,379,826 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Meta Platforms in the fourth quarter worth approximately $11,285,855,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 4,909 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $519.17, for a total transaction of $2,548,605.53. Following the transaction, the chief executive officer now owns 519,000 shares in the company, valued at approximately $269,449,230. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were 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 owns 39,627 shares in the company, valued at approximately $20,568,394.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 4,909 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $519.17, for a total transaction of $2,548,605.53. Following the transaction, the chief executive officer now directly owns 519,000 shares in the company, valued at $269,449,230. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 392,082 shares of company stock worth $202,909,089. Corporate insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Susquehanna increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Wolfe Research started coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target on the stock. TD Cowen upped their price objective on shares of Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Roth Mkm raised their target price on shares of Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Rosenblatt Securities upped their price target on Meta Platforms from $562.00 to $643.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $574.41.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $511.76 on Wednesday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $544.23. The firm’s 50 day moving average is $505.32 and its two-hundred day moving average is $493.64. The firm has a market capitalization of $1.30 trillion, a P/E ratio of 29.39, a P/E/G ratio of 1.29 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its earnings results 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 firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period last year, the firm posted $3.23 EPS. The company’s revenue was up 22.1% on a year-over-year basis. Research analysts forecast that Meta Platforms, Inc. will post 21.3 EPS for the current fiscal year.

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.