Pure Financial Advisors LLC Raises Stock Position in Meta Platforms, Inc. $META

Pure Financial Advisors LLC raised its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 50.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,007 shares of the social networking company’s stock after buying an additional 3,027 shares during the quarter. Pure Financial Advisors LLC’s holdings in Meta Platforms were worth $5,945,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Westchester Capital Management Inc. purchased a new position in Meta Platforms in the third quarter valued at about $26,000. Strategic Wealth Advisors LLC purchased a new position in Meta Platforms in the fourth quarter valued at about $29,000. Key Capital Management INC purchased a new position in Meta Platforms in the fourth quarter valued at about $48,000. Fairway Wealth LLC grew its stake in Meta Platforms by 36.8% in the 4th quarter. Fairway Wealth LLC now owns 78 shares of the social networking company’s stock valued at $51,000 after acquiring an additional 21 shares during the last quarter. Finally, Merrithew & Thorsten Inc acquired a new stake in Meta Platforms in the 4th quarter valued at about $52,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. BMO Capital Markets increased their price objective on shares of Meta Platforms from $710.00 to $730.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Roth Mkm reissued a “buy” rating on shares of Meta Platforms in a research note on Thursday, April 30th. Raymond James Financial lowered their price objective on shares of Meta Platforms from $825.00 to $800.00 and set a “strong-buy” rating on the stock in a research note on Monday, January 26th. Erste Group Bank cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Finally, Pivotal Research lowered their price objective on shares of Meta Platforms from $930.00 to $910.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $840.31.

Get Our Latest Stock Analysis on Meta Platforms

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 837 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $609.35, for a total transaction of $510,025.95. Following the completion of the sale, the chief operating officer directly owned 14,660 shares of the company’s stock, valued at approximately $8,933,071. This trade represents a 5.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Susan J. Li sold 9,195 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the sale, the chief financial officer directly owned 13,186 shares of the company’s stock, valued at approximately $8,014,978.24. The trade was a 41.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 171,517 shares of company stock valued at $109,138,067. Corporate insiders own 13.53% of the company’s stock.

Meta Platforms Trading Down 1.4%

NASDAQ:META opened at $602.61 on Wednesday. The business’s 50-day moving average is $620.35 and its two-hundred day moving average is $637.91. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $796.25. The firm has a market capitalization of $1.52 trillion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.07 and a beta of 1.25.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating the consensus estimate of $6.67 by $3.77. The company had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The firm’s revenue was up 33.1% compared to the same quarter last year. During the same period last year, the company posted $6.43 earnings per share. Research analysts predict that Meta Platforms, Inc. will post 29.65 earnings per share for the current fiscal year.

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

See Also

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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