iSAM Funds UK Ltd Invests $811,000 in Meta Platforms, Inc. (NASDAQ:META)

iSAM Funds UK Ltd bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 1,385 shares of the social networking company’s stock, valued at approximately $811,000.

Other institutional investors have also modified their holdings of the company. Millstone Evans Group LLC purchased a new position in Meta Platforms in the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms in the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms in the 4th quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. purchased a new position in Meta Platforms in the 4th quarter worth approximately $47,000. Finally, Conquis Financial LLC purchased a new position in Meta Platforms in the 4th quarter worth approximately $59,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.0%

Shares of NASDAQ META opened at $640.43 on Tuesday. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The firm has a market capitalization of $1.61 trillion, a PE ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24. 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 has a 50-day moving average price of $571.79 and a two-hundred day moving average price of $607.61.

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

Insider Activity

In related news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $677.71, for a total value of $13,554,200.00. Following the transaction, the insider now directly owns 308,686 shares of the company’s stock, valued at approximately $209,199,589.06. This trade represents a 6.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the completion of the transaction, the chief technology officer now directly owns 16,463 shares in the company, valued at $10,855,043.68. The trade was a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,837 shares of company stock worth $64,758,661 in the last three months. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

META has been the topic of a number of recent analyst reports. Oppenheimer upped their target price on Meta Platforms from $650.00 to $665.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Rosenblatt Securities upped their target price on Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $740.00 target price on shares of Meta Platforms in a research report on Thursday, May 1st. UBS Group upped their target price on Meta Platforms from $650.00 to $683.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, TD Securities cut their target price on Meta Platforms from $725.00 to $700.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.