Manning & Napier Advisors LLC Has $190.35 Million Position in Meta Platforms, Inc. $META

Manning & Napier Advisors LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 285,836 shares of the social networking company’s stock after selling 14,405 shares during the period. Meta Platforms accounts for 2.4% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 10th biggest position. Manning & Napier Advisors LLC’s holdings in Meta Platforms were worth $190,352,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC raised its position in Meta Platforms by 34.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 52,252 shares of the social networking company’s stock worth $38,373,000 after purchasing an additional 13,311 shares during the period. Keybank National Association OH raised its position in Meta Platforms by 15.7% in the 4th quarter. Keybank National Association OH now owns 133,798 shares of the social networking company’s stock worth $88,319,000 after purchasing an additional 18,169 shares during the period. Becker Capital Management Inc. raised its position in Meta Platforms by 5.0% in the 3rd quarter. Becker Capital Management Inc. now owns 35,052 shares of the social networking company’s stock worth $25,741,000 after purchasing an additional 1,657 shares during the period. Diversified Trust Co. raised its position in Meta Platforms by 4.1% in the 4th quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company’s stock worth $55,487,000 after purchasing an additional 3,336 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC raised its position in Meta Platforms by 16.2% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 6,933 shares of the social networking company’s stock worth $5,091,000 after purchasing an additional 968 shares during the period. 79.91% of the stock is owned by institutional investors.

Meta Platforms News Roundup

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on META. Evercore lifted their target price on shares of Meta Platforms from $875.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Wolfe Research decreased their price objective on shares of Meta Platforms from $850.00 to $800.00 and set an “outperform” rating on the stock in a research report on Friday, April 10th. Wall Street Zen cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada restated an “outperform” rating and issued a $810.00 price objective on shares of Meta Platforms in a research report on Thursday, April 30th. Finally, Raymond James Financial decreased 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 report on Monday, January 26th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $840.31.

Check Out Our Latest Stock Analysis on META

Meta Platforms Price Performance

META stock opened at $611.21 on Tuesday. The firm’s 50-day moving average price is $621.20 and its two-hundred day moving average price is $638.95. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25. The stock has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 22.22, a PEG 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.

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

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 926 shares of Meta Platforms 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 owned 6,853 shares of the company’s stock, valued at approximately $4,143,118.21. The trade was a 11.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert M. Kimmitt sold 580 shares of Meta Platforms 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 sale, the director directly owned 3,847 shares in the company, valued at $2,565,949. The trade was a 13.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 158,971 shares of company stock worth $101,676,729 in the last ninety days. Insiders own 13.53% of the company’s stock.

Meta Platforms 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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