Highview Capital Management LLC DE Raises Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Highview Capital Management LLC DE raised its position in Meta Platforms, Inc. (NASDAQ:META) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,189 shares of the social networking company’s stock after buying an additional 218 shares during the quarter. Meta Platforms makes up approximately 1.4% of Highview Capital Management LLC DE’s portfolio, making the stock its 21st biggest position. Highview Capital Management LLC DE’s holdings in Meta Platforms were worth $3,624,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pineridge Advisors LLC raised its stake in shares of Meta Platforms by 97.3% during the fourth quarter. Pineridge Advisors LLC now owns 144 shares of the social networking company’s stock worth $84,000 after purchasing an additional 71 shares during the last quarter. Stephens Consulting LLC raised its stake in shares of Meta Platforms by 5.3% during the fourth quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock worth $186,000 after purchasing an additional 16 shares during the last quarter. Blossom Wealth Management purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $201,000. Vestia Personal Wealth Advisors purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $203,000. Finally, Campbell Wealth Management purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $203,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 0.3%

Meta Platforms stock opened at $635.50 on Thursday. The stock has a market cap of $1.60 trillion, a PE ratio of 26.57, a P/E/G ratio of 1.42 and a beta of 1.24. The stock has a 50-day moving average price of $573.28 and a 200 day moving average price of $608.00. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.71 EPS. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the sale, the chief technology officer now directly owns 1,183 shares of the company’s stock, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 3,523 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $701.10, for a total value of $2,469,975.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,161 shares of company stock worth $51,551,150. 13.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on META. BMO Capital Markets upped their price target on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. DA Davidson cut their price target on Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Benchmark cut their price target on Meta Platforms from $820.00 to $640.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Loop Capital increased their price objective on Meta Platforms from $695.00 to $888.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Finally, Wedbush raised their target price on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $701.05.

About Meta Platforms

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.