Meta Platforms, Inc. (NASDAQ:META) Shares Sold by LGL Partners LLC

LGL Partners LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 3.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,289 shares of the social networking company’s stock after selling 127 shares during the period. LGL Partners LLC’s holdings in Meta Platforms were worth $731,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in Meta Platforms during the fourth quarter worth $28,000. Disciplined Investments LLC raised its stake in shares of Meta Platforms by 583.3% in the first quarter. Disciplined Investments LLC now owns 123 shares of the social networking company’s stock valued at $27,000 after acquiring an additional 105 shares in the last quarter. Dravo Bay LLC acquired a new stake in shares of Meta Platforms in the first quarter valued at $31,000. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $31,000. Finally, Advocacy Wealth Management Services LLC raised its stake in shares of Meta Platforms by 65.9% in the first quarter. Advocacy Wealth Management Services LLC now owns 151 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 60 shares in the last quarter. 61.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 342 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $165.89, for a total transaction of $56,734.38. Following the completion of the sale, the insider now directly owns 19,115 shares in the company, valued at approximately $3,170,987.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Jennifer Newstead sold 342 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $165.89, for a total transaction of $56,734.38. Following the completion of the sale, the insider now directly owns 19,115 shares in the company, valued at approximately $3,170,987.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David M. Wehner sold 1,222 shares of Meta Platforms stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $180.50, for a total transaction of $220,571.00. Following the sale, the chief financial officer now owns 14,660 shares of the company’s stock, valued at $2,646,130. The disclosure for this sale can be found here. Insiders sold a total of 48,276 shares of company stock worth $8,576,396 over the last 90 days. Company insiders own 13.59% of the company’s stock.

Meta Platforms Stock Up 4.4 %

Shares of NASDAQ:META opened at $169.15 on Friday. The company has a market cap of $454.60 billion, a P/E ratio of 14.01, a PEG ratio of 2.15 and a beta of 1.30. Meta Platforms, Inc. has a 52 week low of $154.25 and a 52 week high of $383.79. The company has a 50-day moving average price of $168.23 and a 200 day moving average price of $174.03.

Meta Platforms (NASDAQ:METAGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The social networking company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.04). The firm had revenue of $28.82 billion during the quarter, compared to analyst estimates of $28.95 billion. Meta Platforms had a net margin of 28.16% and a return on equity of 26.52%. Meta Platforms’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.61 EPS. Analysts expect that Meta Platforms, Inc. will post 9.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on META shares. MKM Partners reduced their price objective on Meta Platforms from $295.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Mizuho reduced their price objective on Meta Platforms from $325.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, July 25th. Piper Sandler reduced their price objective on Meta Platforms from $220.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, July 28th. Itaú Unibanco started coverage on Meta Platforms in a report on Tuesday, July 26th. They issued a “market perform” rating and a $188.00 target price on the stock. Finally, StockNews.com started coverage on Meta Platforms in a report on Monday, July 4th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $254.78.

About Meta Platforms

(Get Rating)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

Further Reading

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAGet Rating).

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.