778 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Tolleson Wealth Management Inc.

Tolleson Wealth Management Inc. purchased a new position in Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 778 shares of the social networking company’s stock, valued at approximately $456,000.

A number of other institutional investors also recently bought and sold shares of META. Ballentine Partners LLC lifted its position in shares of Meta Platforms by 1.4% during the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock worth $34,087,000 after purchasing an additional 808 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Meta Platforms by 0.6% during the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock worth $82,314,000 after purchasing an additional 897 shares during the last quarter. Suvretta Capital Management LLC lifted its position in shares of Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after purchasing an additional 1,850 shares during the last quarter. Skye Global Management LP lifted its position in shares of Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock worth $44,616,000 after purchasing an additional 43,200 shares during the last quarter. Finally, Brueske Advisory Services LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth $459,000. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In related 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 sale, the insider now owns 35,787 shares in the company, valued at $26,341,737.09. This represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 608 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $736.07, for a total value of $447,530.56. Following the completion of the sale, the chief operating officer now owns 9,878 shares in the company, valued at approximately $7,270,899.46. This represents a 5.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,852 shares of company stock worth $41,665,958 over the last quarter. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on META. Monness Crespi & Hardt lifted their target price on Meta Platforms from $775.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Mizuho lifted their target price on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. UBS Group lifted 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. Susquehanna decreased their price objective on Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Finally, Cantor Fitzgerald lifted their price objective on Meta Platforms from $624.00 to $676.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $701.05.

Meta Platforms Price Performance

Shares of META stock opened at $640.34 on Friday. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The firm 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. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock’s 50-day simple moving average is $571.37 and its 200-day simple moving average is $606.82.

Meta Platforms (NASDAQ:META) last issued its 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. The firm had revenue of $42.31 billion for 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%. Meta Platforms’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.71 earnings per share. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Company 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.