Mastrapasqua Asset Management Inc. decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 2.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,217 shares of the social networking company’s stock after selling 2,028 shares during the period. Meta Platforms accounts for 2.0% of Mastrapasqua Asset Management Inc.’s portfolio, making the stock its 10th largest position. Mastrapasqua Asset Management Inc.’s holdings in Meta Platforms were worth $17,837,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Barnett & Company Inc. grew its holdings in shares of Meta Platforms by 105.0% during the fourth quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock valued at $28,000 after buying an additional 42 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $28,000. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $31,000. Advocacy Wealth Management Services LLC grew its holdings in shares of Meta Platforms by 65.9% during the first quarter. Advocacy Wealth Management Services LLC now owns 151 shares of the social networking company’s stock valued at $34,000 after buying an additional 60 shares during the last quarter. Finally, Evolution Advisers Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $48,000. 65.49% of the stock is owned by institutional investors and hedge funds.
In other Meta Platforms news, insider Jennifer Newstead sold 342 shares of Meta Platforms stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $169.90, for a total value of $58,105.80. Following the completion of the transaction, the insider now directly owns 18,431 shares of the company’s stock, valued at approximately $3,131,426.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Susan J.S. Taylor sold 1,420 shares of Meta Platforms stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $202.16, for a total transaction of $287,067.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,605 shares of the company’s stock, valued at $324,466.80. The disclosure for this sale can be found here. Insiders sold a total of 45,906 shares of company stock valued at $9,188,306 over the last three months. Corporate insiders own 13.59% of the company’s stock.
Meta Platforms (NASDAQ:META – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.18. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. The company had revenue of $27.91 billion for the quarter, compared to the consensus estimate of $28.21 billion. During the same period in the previous year, the firm posted $3.30 EPS. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 11.63 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Meta Platforms in a report on Friday, March 11th. They issued a “buy” rating and a $265.00 target price on the stock. Canaccord Genuity Group dropped their target price on shares of Meta Platforms from $360.00 to $330.00 in a report on Thursday, April 28th. MKM Partners dropped their target price on shares of Meta Platforms from $315.00 to $295.00 in a report on Thursday, April 28th. Susquehanna dropped their target price on shares of Meta Platforms from $375.00 to $290.00 in a report on Thursday, April 28th. Finally, Mizuho dropped their target price on shares of Meta Platforms from $425.00 to $325.00 and set a “buy” rating on the stock in a report on Monday, April 25th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $301.59.
Meta Platforms Company Profile (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.
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