Select Equity Group L.P. Has $50.76 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Select Equity Group L.P. decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 10.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,688 shares of the social networking company’s stock after selling 10,430 shares during the quarter. Select Equity Group L.P.’s holdings in Meta Platforms were worth $50,757,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in META. Valley Financial Group Inc. increased its position in shares of Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock worth $344,000 after purchasing an additional 14 shares during the period. Seelaus Asset Management LLC increased its holdings in Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after buying an additional 15 shares during the period. Meredith Wealth Planning lifted its holdings in shares of Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after acquiring an additional 15 shares during the period. Maiden Cove Capital LLC boosted its position in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after acquiring an additional 15 shares in the last quarter. Finally, Riverwater Partners LLC increased its stake in Meta Platforms by 2.7% in the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock valued at $335,000 after acquiring an additional 15 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $736.07, for a total value of $677,920.47. Following the completion of the transaction, the insider now directly owns 35,787 shares of the company’s stock, valued at $26,341,737.09. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 406 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14. Following the sale, the chief operating officer now owns 4,608 shares of the company’s stock, valued at approximately $2,265,707.52. The trade was a 8.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,852 shares of company stock valued at $41,665,958 in the last quarter. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $640.34 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock’s fifty day moving average price is $571.37 and its two-hundred day moving average price is $606.72. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The firm has a market cap of $1.62 trillion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on Meta Platforms from $752.00 to $664.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Wedbush raised their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Loop Capital lifted their price target on shares of Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a report on Friday. Susquehanna dropped their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. Finally, Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $701.05.

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.