Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 19.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,051 shares of the social networking company’s stock after selling 1,205 shares during the period. Montag A & Associates Inc.’s holdings in Meta Platforms were worth $2,547,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Vantage Financial Partners LLC raised its position in Meta Platforms by 3.2% in the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock valued at $468,000 after purchasing an additional 41 shares during the period. Concentrum Wealth Management grew its stake in shares of Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after buying an additional 3,888,308 shares in the last quarter. Aveo Capital Partners LLC grew its stake in shares of Meta Platforms by 45.7% in the fourth quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock valued at $815,000 after buying an additional 722 shares in the last quarter. 9258 Wealth Management LLC raised its holdings in shares of Meta Platforms by 66.4% in the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock valued at $1,413,000 after buying an additional 1,594 shares during the period. Finally, Rollins Financial lifted its stake in Meta Platforms by 7.5% during the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock worth $10,851,000 after acquiring an additional 2,133 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on META. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday, August 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $525.00 price target on shares of Meta Platforms in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research note on Thursday, August 1st. BMO Capital Markets restated a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research report on Wednesday, June 12th. Finally, Loop Capital boosted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $574.41.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $511.76 on Wednesday. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The company’s 50 day moving average price is $505.32 and its two-hundred day moving average price is $493.64. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The firm has a market capitalization of $1.30 trillion, a P/E ratio of 29.39, a P/E/G ratio of 1.29 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the firm earned $3.23 earnings per share. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. On average, equities analysts forecast that Meta Platforms, Inc. will post 21.3 earnings per share for the current fiscal year.

Insider Activity at Meta Platforms

In other news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total value of $221,747.96. Following the sale, the chief operating officer now owns 14,424 shares in the company, valued at $7,744,534.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction on 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 transaction, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The disclosure for this sale can be found here. In the last three months, insiders sold 392,082 shares of company stock valued at $202,909,089. 13.71% of the stock is owned by insiders.

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.