Wafra Inc. Sells 135,651 Shares of Meta Platforms, Inc. (NASDAQ:META)

Wafra Inc. reduced its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 50.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,585 shares of the social networking company’s stock after selling 135,651 shares during the period. Meta Platforms comprises approximately 2.7% of Wafra Inc.’s holdings, making the stock its 7th largest holding. Wafra Inc.’s holdings in Meta Platforms were worth $46,576,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC increased its position in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares during the period. Beaird Harris Wealth Management LLC increased its holdings in shares of Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the period. Cranbrook Wealth Management LLC increased its holdings in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares during the period. Gilfoyle & Co LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at $39,000. Finally, Criterion Capital Advisors LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at $45,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 97,093 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $466.08, for a total value of $45,253,105.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at $39,015,070.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 97,093 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $466.08, for a total transaction of $45,253,105.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,015,222 shares of company stock worth $499,279,869. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on META shares. Benchmark reissued a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Loop Capital lowered their price target on Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Tigress Financial raised their price target on Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a report on Friday, February 9th. Piper Sandler reaffirmed an “overweight” rating and set a $545.00 target price (down previously from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Finally, Wolfe Research decreased their target price on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $509.80.

Get Our Latest Report on META

Meta Platforms Stock Performance

Shares of NASDAQ:META traded down $1.32 on Friday, hitting $471.91. 10,807,289 shares of the company were exchanged, compared to its average volume of 20,906,852. The company’s 50 day moving average price is $486.26 and its two-hundred day moving average price is $419.79. Meta Platforms, Inc. has a one year low of $241.19 and a one year high of $531.49. 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 $1.20 trillion, a price-to-earnings ratio of 27.11, a PEG ratio of 1.23 and a beta of 1.21.

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

About Meta Platforms

(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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