Cravens & Co Advisors LLC Sells 153 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cravens & Co Advisors LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,704 shares of the social networking company’s stock after selling 153 shares during the quarter. Meta Platforms comprises 2.1% of Cravens & Co Advisors LLC’s investment portfolio, making the stock its 11th largest position. Cravens & Co Advisors LLC’s holdings in Meta Platforms were worth $2,876,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quest Partners LLC purchased a new position in Meta Platforms during the 4th quarter valued at $32,000. Clear Investment Research LLC increased its position in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the period. Delos Wealth Advisors LLC raised its stake in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the second quarter worth about $38,000. Finally, Ruedi Wealth Management Inc. boosted its position in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research report on Thursday, August 1st. UBS Group upped their target price on shares of Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays lifted their price target on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group upped their price objective on shares of Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two equities research 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $574.41.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $503.18, for a total transaction of $8,404,112.36. Following the transaction, the chief executive officer now owns 301,478 shares of the company’s stock, valued at $151,697,700.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $503.18, for a total transaction of $8,404,112.36. Following the sale, the chief executive officer now directly owns 301,478 shares in the company, valued at approximately $151,697,700.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 8,950 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 value of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 390,072 shares of company stock worth $201,913,948. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Up 0.2 %

Shares of META stock opened at $512.74 on Thursday. 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 company has a market cap of $1.30 trillion, a price-to-earnings ratio of 29.45, a PEG ratio of 1.29 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23. The firm has a fifty day moving average price of $505.31 and a 200-day moving average price of $493.77.

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, 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 business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the previous year, the company posted $3.23 earnings per share. Meta Platforms’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, equities analysts predict that Meta Platforms, Inc. will post 21.3 earnings per share for the current 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.