Tremblant Capital Group Boosts Stake in Meta Platforms, Inc. (NASDAQ:META)

Tremblant Capital Group raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 14.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,506 shares of the social networking company’s stock after acquiring an additional 704 shares during the period. Tremblant Capital Group’s holdings in Meta Platforms were worth $3,224,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in META. Valley Financial Group Inc. boosted 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 buying an additional 14 shares during the period. Seelaus Asset Management LLC boosted its position in shares of Meta Platforms by 0.9% in the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock worth $960,000 after buying an additional 15 shares during the period. Meredith Wealth Planning boosted its position in shares of Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after buying an additional 15 shares during the period. Maiden Cove Capital LLC boosted its position in shares of Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after buying an additional 15 shares during the period. Finally, Riverwater Partners LLC boosted its position in shares of Meta Platforms by 2.7% in the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock worth $335,000 after buying an additional 15 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 19,668 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $703.21, for a total value of $13,830,734.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 907 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $645.77, for a total value of $585,713.39. Following the completion of the transaction, the insider now directly owns 24,749 shares of the company’s stock, valued at $15,982,161.73. This trade represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,852 shares of company stock valued at $41,665,958 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

META has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Meta Platforms from $610.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Cantor Fitzgerald boosted their price target on Meta Platforms from $624.00 to $676.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Guggenheim boosted their price target on Meta Platforms from $675.00 to $725.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Morgan Stanley boosted their price target on Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Finally, UBS Group boosted their price target on Meta Platforms from $650.00 to $683.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $701.05.

Meta Platforms Stock Down 0.5%

Shares of Meta Platforms stock opened at $640.34 on Monday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The business’s 50 day simple moving average is $571.37 and its 200-day simple moving average is $607.10. The stock has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

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