Meta Platforms, Inc. (NASDAQ:META) is Blackhawk Capital Partners LLC.’s 2nd Largest Position

Blackhawk Capital Partners LLC. raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.9% in the second quarter, Holdings Channel reports. The institutional investor owned 16,244 shares of the social networking company’s stock after acquiring an additional 617 shares during the period. Meta Platforms comprises about 4.9% of Blackhawk Capital Partners LLC.’s portfolio, making the stock its 2nd biggest holding. Blackhawk Capital Partners LLC.’s holdings in Meta Platforms were worth $8,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Baird Financial Group Inc. lifted its position in shares of Meta Platforms by 24.2% during the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after buying an additional 163,067 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Meta Platforms by 1.5% during the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after purchasing an additional 51,900 shares in the last quarter. Donoghue Forlines LLC lifted its holdings in Meta Platforms by 94.4% during the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after purchasing an additional 4,054 shares in the last quarter. Voyager Global Management LP boosted its position in shares of Meta Platforms by 37.3% in the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after purchasing an additional 140,000 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. increased its stake in shares of Meta Platforms by 400.0% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company’s stock worth $885,000 after purchasing an additional 2,000 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

META stock opened at $521.31 on Friday. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23. The firm has a market cap of $1.32 trillion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.27 and a beta of 1.21. The business’s fifty day simple moving average is $504.85 and its two-hundred day simple moving average is $492.74. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on META. Susquehanna lifted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Bank of America upped their price objective on Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler lifted their target price on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Tigress Financial upped their price target on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Finally, Sanford C. Bernstein boosted their target price on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $574.41.

Insider Activity at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 388,078 shares of company stock worth $200,792,168. Company insiders own 13.71% of the company’s stock.

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.