Interchange Capital Partners LLC Has $3.33 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Interchange Capital Partners LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 204.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,594 shares of the social networking company’s stock after purchasing an additional 4,428 shares during the period. Meta Platforms makes up about 1.2% of Interchange Capital Partners LLC’s portfolio, making the stock its 15th biggest holding. Interchange Capital Partners LLC’s holdings in Meta Platforms were worth $3,325,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. S.A. Mason LLC boosted its stake in shares of Meta Platforms by 1.5% in the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after purchasing an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN lifted its stake in Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares during the last quarter. Northern Capital Management Inc. boosted its position 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 valued at $314,000 after buying an additional 21 shares in the last quarter. Buckingham Capital Management Inc. grew its stake in shares of Meta Platforms by 5.1% during the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock worth $218,000 after buying an additional 21 shares during the last quarter. Finally, LongView Wealth Management increased its holdings in shares of Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after buying an additional 22 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Down 1.8 %

Shares of Meta Platforms stock opened at $511.76 on Wednesday. The stock has a market capitalization of $1.30 trillion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $544.23. The stock has a 50 day moving average price of $505.32 and a two-hundred day moving average price of $493.64. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last posted its quarterly 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 net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the firm posted $3.23 EPS. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 21.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on META. Stifel Nicolaus raised their price objective on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Bank of America lifted their price target on Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Loop Capital upped their price objective on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research report on Thursday, August 1st. Finally, Evercore ISI upped their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $574.41.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 4,909 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $519.17, for a total value of $2,548,605.53. Following the transaction, the chief executive officer now owns 519,000 shares of the company’s stock, valued at approximately $269,449,230. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Mark Zuckerberg sold 4,909 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $519.17, for a total value of $2,548,605.53. Following the completion of the sale, the chief executive officer now directly owns 519,000 shares of the company’s stock, valued at approximately $269,449,230. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $492.98, for a total transaction of $203,107.76. Following the transaction, the chief operating officer now directly owns 8,443 shares in the company, valued at $4,162,230.14. The disclosure for this sale can be found here. Insiders sold a total of 392,082 shares of company stock valued at $202,909,089 over the last three months. Corporate insiders own 13.71% of the company’s stock.

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.