Meta Platforms, Inc. (NASDAQ:META) is Azzad Asset Management Inc. ADV’s 5th Largest Position

Azzad Asset Management Inc. ADV increased its position in Meta Platforms, Inc. (NASDAQ:META) by 0.3% in the 2nd quarter, Holdings Channel reports. The firm owned 37,852 shares of the social networking company’s stock after buying an additional 131 shares during the period. Meta Platforms makes up 2.2% of Azzad Asset Management Inc. ADV’s holdings, making the stock its 5th biggest holding. Azzad Asset Management Inc. ADV’s holdings in Meta Platforms were worth $19,086,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in META. Quest Partners LLC purchased a new stake in Meta Platforms during the 4th quarter valued at approximately $32,000. Clear Investment Research LLC raised its stake in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Delos Wealth Advisors LLC raised its stake in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms during the 2nd quarter worth approximately $38,000. Finally, Ruedi Wealth Management Inc. increased its position in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on META shares. Roth Mkm boosted their target price on Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group boosted their target price on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research report on Wednesday, June 12th. Wedbush restated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a report on Wednesday, July 24th. Finally, Guggenheim upped their price target on Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $574.41.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the sale, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the sale, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 388,078 shares of company stock valued at $200,792,168. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Up 0.6 %

Shares of META opened at $521.31 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.32 trillion, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The stock’s fifty day simple moving average is $504.85 and its 200 day simple moving average is $492.97. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23.

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

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.