Cypress Funds LLC Decreases Stake in Meta Platforms, Inc. (NASDAQ:META)

Cypress Funds LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 13.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,327 shares of the social networking company’s stock after selling 13,673 shares during the quarter. Meta Platforms makes up 6.1% of Cypress Funds LLC’s portfolio, making the stock its 8th biggest holding. Cypress Funds LLC’s holdings in Meta Platforms were worth $45,545,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vantage Financial Partners LLC grew its position in shares of Meta Platforms by 3.2% during the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock valued at $468,000 after purchasing an additional 41 shares in the last quarter. Concentrum Wealth Management boosted its stake in Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after buying an additional 3,888,308 shares during the last quarter. Aveo Capital Partners LLC grew its holdings in Meta Platforms by 45.7% during the 4th quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock valued at $815,000 after buying an additional 722 shares in the last quarter. 9258 Wealth Management LLC increased its stake in Meta Platforms by 66.4% in the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock worth $1,413,000 after acquiring an additional 1,594 shares during the last quarter. Finally, Rollins Financial raised its holdings in shares of Meta Platforms by 7.5% during the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock worth $10,851,000 after acquiring an additional 2,133 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.2 %

Shares of NASDAQ META opened at $512.74 on Thursday. The business has a fifty day moving average price of $505.31 and a 200 day moving average price of $493.77. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The stock has a market capitalization of $1.30 trillion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21.

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

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 4,909 shares of the 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 completion of the sale, the chief executive officer now owns 519,000 shares in the company, valued at approximately $269,449,230. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $500.00, for a total transaction of $452,500.00. Following the sale, the insider now owns 40,560 shares in the company, valued at $20,280,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 4,909 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $519.17, for a total transaction of $2,548,605.53. Following the completion of the transaction, the chief executive officer now directly owns 519,000 shares of the company’s stock, valued at $269,449,230. The disclosure for this sale can be found here. Over the last three months, insiders have sold 390,072 shares of company stock valued at $201,913,948. 13.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on META shares. Truist Financial boosted their price target on shares of Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Oppenheimer boosted their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their price target on shares of Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. TD Cowen lifted their price target on Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Bank of America upped their price objective on Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company 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.