Strategic Blueprint LLC Purchases 513 Shares of Meta Platforms, Inc. (NASDAQ:META)

Strategic Blueprint LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,212 shares of the social networking company’s stock after acquiring an additional 513 shares during the period. Strategic Blueprint LLC’s holdings in Meta Platforms were worth $5,149,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on META. Wells Fargo & Company upped their price objective on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Robert W. Baird lifted their price target on Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Susquehanna lifted their target price on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. TD Securities boosted their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Finally, BNP Paribas initiated coverage on shares of Meta Platforms in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $574.41.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the sale, the chief executive officer now owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the transaction, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. The disclosure for this sale can be found here. Insiders have sold 354,155 shares of company stock valued at $183,221,085 over the last ninety days. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $522.12 on Thursday. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23. The business’s fifty day simple moving average is $503.99 and its 200-day simple moving average is $492.19. 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 company has a market cap of $1.32 trillion, a PE ratio of 29.68, a PEG ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (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 company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period in the prior year, the company posted $3.23 EPS. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. Analysts expect that Meta Platforms, Inc. will post 20.5 earnings per share for the current fiscal year.

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.