Presidio Capital Management LLC Buys 97 Shares of Meta Platforms, Inc. (NASDAQ:META)

Presidio Capital Management LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 18.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 615 shares of the social networking company’s stock after buying an additional 97 shares during the period. Presidio Capital Management LLC’s holdings in Meta Platforms were worth $310,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in META. Vanguard Group Inc. grew its position in shares of Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares during the period. Capital World Investors grew its position in shares of Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after buying an additional 244,803 shares during the period. Capital International Investors raised its position in shares of Meta Platforms by 3.2% in the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after acquiring an additional 1,083,719 shares during the period. Capital Research Global Investors grew its holdings in Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Finally, Norges Bank acquired a new stake in Meta Platforms in the fourth quarter worth $11,285,855,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on META shares. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a report on Wednesday, June 12th. Wedbush reaffirmed an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research report on Wednesday, July 24th. KeyCorp boosted their price target on Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Robert W. Baird lifted their target price on Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $574.41.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $516.78 on Thursday. The company’s 50 day moving average price is $503.99 and its two-hundred day moving average price is $492.19. The firm has a market capitalization of $1.31 trillion, a P/E ratio of 29.68, a P/E/G ratio of 1.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same period last year, the company earned $3.23 earnings per share. The business’s quarterly revenue was up 22.1% on a year-over-year basis. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $477.00, for a total transaction of $431,685.00. Following the transaction, the insider now directly owns 41,465 shares of the company’s stock, valued at approximately $19,778,805. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $477.00, for a total value of $431,685.00. Following the transaction, the insider now owns 41,465 shares in the company, valued at $19,778,805. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 2,011 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the sale, the chief executive officer now owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 354,155 shares of company stock worth $183,221,085. 13.71% of the stock is currently owned by company insiders.

Meta Platforms 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.