Forum Financial Management LP Sells 62 Shares of Meta Platforms, Inc. (NASDAQ:META)

Forum Financial Management LP lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 39,362 shares of the social networking company’s stock after selling 62 shares during the period. Meta Platforms accounts for about 0.4% of Forum Financial Management LP’s portfolio, making the stock its 22nd biggest position. Forum Financial Management LP’s holdings in Meta Platforms were worth $23,047,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the 4th quarter valued at $43,000. Cordant Inc. bought a new stake in Meta Platforms during the 4th quarter valued at $59,000. Conquis Financial LLC acquired a new position in Meta Platforms during the fourth quarter worth $59,000. Finally, Bear Mountain Capital Inc. bought a new position in shares of Meta Platforms in the fourth quarter valued at $70,000. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the sale, the chief operating officer now owns 20,935 shares of the company’s stock, valued at approximately $15,422,186.45. The trade was a 18.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 19,668 shares of Meta Platforms stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $734.49, for a total value of $14,445,949.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,932 shares of company stock valued at $69,021,252. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $659.36 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The stock has a market cap of $1.67 trillion, a PE ratio of 27.57, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The stock has a fifty day moving average of $569.76 and a 200-day moving average of $605.94.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter last year, the company earned $4.71 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company decreased their target price on shares of Meta Platforms from $752.00 to $664.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, May 1st. Tigress Financial restated a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. JPMorgan Chase & Co. lifted their target price on Meta Platforms from $610.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $740.00 price target on shares of Meta Platforms in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $696.45.

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.