Amiral Gestion Makes New $21.61 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Amiral Gestion acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, Holdings Channel.com reports. The fund acquired 36,909 shares of the social networking company’s stock, valued at approximately $21,610,000. Meta Platforms accounts for 13.6% of Amiral Gestion’s portfolio, making the stock its 2nd largest holding.

Several other large investors also recently modified their holdings of META. Michels Family Financial LLC bought a new position in Meta Platforms in the 4th quarter valued at about $1,509,000. Castlekeep Investment Advisors LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $55,880,000. Drucker Wealth 3.0 LLC increased its stake in shares of Meta Platforms by 5.1% during the fourth quarter. Drucker Wealth 3.0 LLC now owns 9,486 shares of the social networking company’s stock worth $5,554,000 after purchasing an additional 463 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $5,823,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in Meta Platforms during the 4th quarter worth approximately $59,000. 79.91% of the stock is owned by institutional investors.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $665.75, for a total value of $613,155.75. Following the completion of the sale, the insider now owns 34,866 shares in the company, valued at $23,212,039.50. The trade was a 2.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $686.28, for a total transaction of $417,258.24. Following the transaction, the chief operating officer now directly owns 9,270 shares in the company, valued at approximately $6,361,815.60. This represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,157 shares of company stock worth $49,411,000 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on META. UBS Group upped their price objective on Meta Platforms from $650.00 to $683.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Moffett Nathanson boosted their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Robert W. Baird raised their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of Meta Platforms from $610.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Finally, Truist Financial boosted their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the company a “buy” rating in a report on Thursday, May 1st. One 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $701.05.

Meta Platforms Trading Down 1.5%

META opened at $627.06 on Friday. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The company has a fifty day moving average of $574.80 and a 200-day moving average of $608.90. The stock has a market cap of $1.58 trillion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS 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 business had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. During the same quarter in the prior year, the firm posted $4.71 earnings per share. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

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.