Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Holdings in Meta Platforms, Inc. $META

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 6.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,745,948 shares of the social networking company’s stock after buying an additional 293,973 shares during the quarter. Meta Platforms comprises about 2.1% of Mitsubishi UFJ Asset Management Co. Ltd.’s portfolio, making the stock its 8th largest holding. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Meta Platforms were worth $3,086,859,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Destiny Wealth Partners LLC increased its holdings in Meta Platforms by 5.0% in the 4th quarter. Destiny Wealth Partners LLC now owns 9,052 shares of the social networking company’s stock valued at $6,086,000 after buying an additional 435 shares during the period. AssuredPartners Investment Advisors LLC grew its holdings in shares of Meta Platforms by 22.3% during the 4th quarter. AssuredPartners Investment Advisors LLC now owns 5,957 shares of the social networking company’s stock valued at $3,932,000 after purchasing an additional 1,085 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Meta Platforms by 3.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 363,321 shares of the social networking company’s stock valued at $239,825,000 after purchasing an additional 11,689 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Meta Platforms by 6.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 181,970 shares of the social networking company’s stock valued at $120,112,000 after purchasing an additional 11,548 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC grew its holdings in shares of Meta Platforms by 1.7% during the 4th quarter. Kingstone Capital Partners Texas LLC now owns 12,075 shares of the social networking company’s stock valued at $7,970,000 after purchasing an additional 201 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

META has been the topic of several research reports. Erste Group Bank lowered shares of Meta Platforms from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Pivotal Research decreased their price target on shares of Meta Platforms from $930.00 to $910.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Argus reaffirmed a “buy” rating and set a $800.00 price target on shares of Meta Platforms in a report on Monday, February 2nd. Guggenheim decreased their price target on shares of Meta Platforms from $850.00 to $800.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Finally, Morgan Stanley decreased their price target on shares of Meta Platforms from $825.00 to $775.00 and set an “overweight” rating on the stock in a report on Monday, March 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $840.31.

View Our Latest Stock Report on META

Meta Platforms News Summary

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

Meta Platforms Trading Down 0.7%

NASDAQ:META opened at $614.23 on Friday. The firm’s fifty day moving average is $622.18 and its 200-day moving average is $640.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $796.25. The firm has a market cap of $1.55 trillion, a P/E ratio of 22.33, a P/E/G ratio of 1.08 and a beta of 1.25.

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

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 56,571 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $644.70, for a total transaction of $36,471,323.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 8,089 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $631.24, for a total transaction of $5,106,100.36. Following the transaction, the chief technology officer owned 2,841 shares in the company, valued at approximately $1,793,352.84. The trade was a 74.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 169,231 shares of company stock worth $108,239,954 in the last quarter. Company insiders own 13.61% of the company’s stock.

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.

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

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