Meta Platforms, Inc. (NASDAQ:META) Position Trimmed by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 4.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 549 shares of the social networking company’s stock after selling 23 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Meta Platforms were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new position in Meta Platforms in the 4th quarter worth about $32,000. Clear Investment Research LLC increased its holdings in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares during the last quarter. Delos Wealth Advisors LLC lifted its stake in 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 acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new stake in Meta Platforms in the second quarter worth approximately $38,000. Finally, Ruedi Wealth Management Inc. grew its position in Meta Platforms by 122.2% in the second 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 currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

META has been the subject of several analyst reports. Jefferies Financial Group lifted their price objective on shares of Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Roth Mkm increased their price objective on Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Guggenheim raised their price objective on Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Finally, Wedbush reissued an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $574.41.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total transaction of $221,747.96. Following the transaction, the chief operating officer now owns 14,424 shares of the company’s stock, valued at approximately $7,744,534.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Susan J. Li sold 8,950 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The disclosure for this sale can be found here. Insiders have sold a total of 390,072 shares of company stock worth $201,913,948 in the last three months. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.2 %

Shares of NASDAQ:META opened at $512.74 on Thursday. The company has a market capitalization of $1.30 trillion, a PE ratio of 29.45, a P/E/G ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company’s fifty day moving average is $505.31 and its 200-day moving average is $493.77. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $544.23.

Meta Platforms (NASDAQ:META) last released its quarterly 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. The firm 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 company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.23 earnings per share. Equities research analysts predict that Meta Platforms, Inc. will post 21.3 earnings per share 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.