Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Reduced by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 11.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,653 shares of the social networking company’s stock after selling 15,709 shares during the period. Meta Platforms makes up approximately 2.0% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings, making the stock its 10th biggest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Meta Platforms were worth $58,819,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. S.A. Mason LLC lifted 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 during the last quarter. Horizon Bancorp Inc. IN raised 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 valued at $513,000 after buying an additional 21 shares during the last quarter. Northern Capital Management Inc. raised its stake in shares of 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 purchasing an additional 21 shares during the last quarter. Buckingham Capital Management Inc. boosted its stake in shares of 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 buying an additional 21 shares during the last quarter. Finally, LongView Wealth Management grew its position in Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after buying an additional 22 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $500.00, for a total value of $452,500.00. Following the sale, the insider now owns 40,560 shares in the company, valued at approximately $20,280,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $500.00, for a total transaction of $452,500.00. Following the sale, the insider now owns 40,560 shares of the company’s stock, valued at approximately $20,280,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $503.34, for a total transaction of $8,406,784.68. Following the completion of the transaction, the chief executive officer now directly owns 275,297 shares of the company’s stock, valued at $138,567,991.98. The disclosure for this sale can be found here. In the last three months, insiders sold 390,072 shares of company stock worth $201,913,948. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $512.74 on Thursday. The business has a 50-day simple moving average of $505.31 and a 200-day simple moving average of $493.77. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $544.23. The stock has a market cap of $1.30 trillion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

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 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 quarter in the previous year, the company earned $3.23 earnings per share. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities analysts expect that Meta Platforms, Inc. will post 21.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on META shares. Guggenheim upped their price target on Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their price target on shares of Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their price objective on shares of Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Wednesday. Finally, TD Securities increased their price objective on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

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.