Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Foster Group Inc.

Foster Group Inc. grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,219 shares of the social networking company’s stock after buying an additional 458 shares during the period. Foster Group Inc.’s holdings in Meta Platforms were worth $4,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of META. S.A. Mason LLC lifted its stake in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after acquiring an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN lifted its stake in Meta Platforms by 2.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after acquiring an additional 21 shares during the last quarter. Northern Capital Management Inc. lifted its stake in Meta Platforms by 3.4% in the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after acquiring an additional 21 shares during the last quarter. Buckingham Capital Management Inc. lifted its stake in Meta Platforms by 5.1% in the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock worth $218,000 after acquiring an additional 21 shares during the last quarter. Finally, LongView Wealth Management lifted its stake in Meta Platforms by 1.3% in the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after acquiring an additional 22 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction dated Thursday, August 15th. The stock was 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. Insiders have sold 388,078 shares of company stock valued at $200,792,168 in the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $521.31 on Monday. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23. The stock has a market capitalization of $1.32 trillion, a P/E ratio of 29.94, a P/E/G ratio of 1.29 and a beta of 1.21. The firm’s 50-day moving average is $504.85 and its two-hundred day moving average is $493.11. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period last year, the company earned $3.23 EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts predict that Meta Platforms, Inc. will post 21.3 earnings per share for the current year.

Analyst Ratings Changes

META has been the topic of a number of research analyst reports. Guggenheim raised their price objective on shares of Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a report on Wednesday, June 12th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Evercore ISI raised their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company raised their price objective on shares of Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $574.41.

About Meta Platforms

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.