Meta Platforms, Inc. $META is RD Finance Ltd’s 5th Largest Position

RD Finance Ltd raised its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 140.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,850 shares of the social networking company’s stock after purchasing an additional 5,750 shares during the period. Meta Platforms accounts for about 6.6% of RD Finance Ltd’s portfolio, making the stock its 5th largest position. RD Finance Ltd’s holdings in Meta Platforms were worth $6,502,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chesapeake Wealth Management increased its holdings in Meta Platforms by 2.1% in the fourth quarter. Chesapeake Wealth Management now owns 4,734 shares of the social networking company’s stock valued at $3,125,000 after buying an additional 97 shares in the last quarter. Strategic Wealth Advisors LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $29,000. Strengthening Families & Communities LLC raised its position in shares of Meta Platforms by 5.7% during the 4th quarter. Strengthening Families & Communities LLC now owns 1,498 shares of the social networking company’s stock worth $989,000 after purchasing an additional 81 shares during the last quarter. Insight 2811 Inc. raised its position in shares of Meta Platforms by 19.9% during the 4th quarter. Insight 2811 Inc. now owns 1,103 shares of the social networking company’s stock worth $728,000 after purchasing an additional 183 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its position in shares of Meta Platforms by 3.8% during the 4th quarter. Koshinski Asset Management Inc. now owns 11,681 shares of the social networking company’s stock worth $7,710,000 after purchasing an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Trending Headlines about Meta Platforms

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Insider Activity

In related news, Director Robert M. Kimmitt sold 580 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $667.00, for a total transaction of $386,860.00. Following the completion of the sale, the director owned 3,847 shares of the company’s stock, valued at approximately $2,565,949. This represents a 13.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 926 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $604.57, for a total transaction of $559,831.82. Following the sale, the chief operating officer directly owned 6,853 shares of the company’s stock, valued at approximately $4,143,118.21. This represents a 11.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 160,352 shares of company stock valued at $102,559,436. 13.53% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $614.23 on Monday. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25. The stock has a market cap of $1.55 trillion, a PE ratio of 22.33, a P/E/G ratio of 1.08 and a beta of 1.25. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $622.18 and a 200 day moving average of $639.94.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $55.56 billion. During the same quarter in the prior year, the company earned $6.43 EPS. Meta Platforms’s revenue was up 33.1% compared to the same quarter last year. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 29.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on META shares. Weiss Ratings restated a “buy (b)” rating on shares of Meta Platforms in a research report on Friday, March 27th. Wells Fargo & Company upped their price target on shares of Meta Platforms from $765.00 to $770.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Truist Financial reduced their price target on shares of Meta Platforms from $900.00 to $840.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Robert W. Baird upped their price target on shares of Meta Platforms from $815.00 to $830.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Finally, Pivotal Research reduced their price target on shares of Meta Platforms from $930.00 to $910.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Four 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $840.31.

Read Our Latest Analysis on Meta Platforms

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.

Further Reading

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

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