Natixis Advisors LLC Has $795.35 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Natixis Advisors LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,577,378 shares of the social networking company’s stock after acquiring an additional 50,623 shares during the period. Meta Platforms makes up 1.7% of Natixis Advisors LLC’s portfolio, making the stock its 6th largest holding. Natixis Advisors LLC owned approximately 0.06% of Meta Platforms worth $795,345,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Quest Partners LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth about $32,000. Clear Investment Research LLC raised its holdings in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Delos Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring 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 valued at approximately $38,000. Finally, Ruedi Wealth Management Inc. grew its holdings in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on META. Robert W. Baird increased their price objective on shares of Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Jefferies Financial Group increased their price target on shares of Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wolfe Research assumed coverage on Meta Platforms in a research note on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company boosted their target price on Meta Platforms from $625.00 to $647.00 and gave the company 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 issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $574.41.

Meta Platforms Stock Up 0.2 %

Shares of NASDAQ META opened at $512.74 on Thursday. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23. The stock’s fifty day simple moving average is $505.31 and its two-hundred day simple moving average is $493.77. The stock has a market capitalization of $1.30 trillion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the company earned $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, analysts expect that Meta Platforms, Inc. will post 21.3 EPS for the current fiscal year.

Insider Activity

In related news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 390,072 shares of company stock worth $201,913,948. Corporate insiders own 13.71% of the company’s stock.

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.