Eagle Bay Advisors LLC Sells 472 Shares of Meta Platforms, Inc. (NASDAQ:META)

Eagle Bay Advisors LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 22.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,604 shares of the social networking company’s stock after selling 472 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Meta Platforms were worth $568,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Addison Advisors LLC increased its stake in Meta Platforms by 3.9% during the 4th quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock valued at $237,000 after buying an additional 25 shares during the period. Smithfield Trust Co increased its stake in Meta Platforms by 0.5% during the 4th quarter. Smithfield Trust Co now owns 4,895 shares of the social networking company’s stock valued at $1,730,000 after buying an additional 25 shares during the period. WoodTrust Financial Corp boosted its stake in Meta Platforms by 1.8% during the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock valued at $548,000 after purchasing an additional 27 shares in the last quarter. Tennessee Valley Asset Management Partners boosted its stake in Meta Platforms by 0.6% during the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock valued at $1,616,000 after purchasing an additional 27 shares in the last quarter. Finally, Peterson Wealth Advisors LLC boosted its stake in Meta Platforms by 1.9% during the 4th quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock valued at $520,000 after purchasing an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 576 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $466.33, for a total value of $268,606.08. Following the transaction, the insider now owns 36,067 shares of the company’s stock, valued at approximately $16,819,124.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 576 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $466.33, for a total value of $268,606.08. Following the completion of the sale, the insider now directly owns 36,067 shares of the company’s stock, valued at approximately $16,819,124.11. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 34,398 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $469.69, for a total transaction of $16,156,396.62. The disclosure for this sale can be found here. Insiders have sold a total of 1,092,501 shares of company stock worth $535,778,532 over the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

META stock traded up $3.84 during midday trading on Tuesday, reaching $471.85. 10,468,805 shares of the company’s stock traded hands, compared to its average volume of 17,927,830. The company has a 50-day simple moving average of $488.38 and a two-hundred day simple moving average of $416.55. Meta Platforms, Inc. has a 1-year low of $235.33 and a 1-year high of $531.49. The company has a market cap of $1.20 trillion, a price-to-earnings ratio of 27.10, a PEG ratio of 1.24 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, analysts anticipate that Meta Platforms, Inc. will post 20.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

META has been the subject of a number of research analyst reports. Loop Capital cut their price target on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. KeyCorp decreased their price objective on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Wolfe Research decreased their price objective on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Canaccord Genuity Group raised their price objective on shares of Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, UBS Group decreased their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given 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, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $509.80.

View Our Latest Research Report on Meta Platforms

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.

Further Reading

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

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