United Services Automobile Association Acquires 6,135 Shares of Meta Platforms, Inc. (NASDAQ:META)

United Services Automobile Association boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,874 shares of the social networking company’s stock after acquiring an additional 6,135 shares during the period. United Services Automobile Association’s holdings in Meta Platforms were worth $23,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in META. Donoghue Forlines LLC lifted its holdings in shares of Meta Platforms by 94.4% in the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after purchasing an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Meta Platforms by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after purchasing an additional 32,423 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. lifted its holdings in shares of Meta Platforms by 400.0% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company’s stock valued at $885,000 after purchasing an additional 2,000 shares in the last quarter. Bank of Stockton lifted its holdings in shares of Meta Platforms by 9.2% in the fourth quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock valued at $1,819,000 after purchasing an additional 400 shares in the last quarter. Finally, Signify Wealth bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $228,000. 79.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group cut their price target on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Sanford C. Bernstein lowered their target price on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Morgan Stanley lifted their target price on Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. KeyCorp lowered their target price on Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, Canaccord Genuity Group lowered their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $509.80.

View Our Latest Stock Report on META

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total transaction of $423,150.85. Following the completion of the transaction, the insider now directly owns 43,275 shares in the company, valued at $20,234,091.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Mark Zuckerberg sold 45,919 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $500.30, for a total value of $22,973,275.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total value of $423,150.85. Following the completion of the sale, the insider now owns 43,275 shares of the company’s stock, valued at $20,234,091.75. The disclosure for this sale can be found here. Insiders sold 809,054 shares of company stock worth $401,166,117 over the last three months. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock traded up $12.44 during trading on Monday, hitting $478.22. The company had a trading volume of 12,024,200 shares, compared to its average volume of 17,476,807. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The firm has a market capitalization of $1.21 trillion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 1.24 and a beta of 1.21. The stock’s 50-day moving average price is $484.07 and its 200 day moving average price is $426.77. Meta Platforms, Inc. has a one year low of $249.17 and a one year high of $531.49.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Equities analysts expect that Meta Platforms, Inc. will post 20.18 EPS for the current fiscal year.

Meta Platforms Company Profile

(Free Report)

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.

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

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