Gradient Investments LLC Has $19.08 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Gradient Investments LLC cut its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 21.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,484 shares of the social networking company’s stock after selling 18,100 shares during the period. Gradient Investments LLC’s holdings in Meta Platforms were worth $19,080,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of META. Ruedi Wealth Management Inc. bought a new stake in shares of Meta Platforms during the 4th quarter worth about $25,000. Worth Asset Management LLC boosted its holdings in shares of Meta Platforms by 248.6% during the 1st quarter. Worth Asset Management LLC now owns 122 shares of the social networking company’s stock worth $26,000 after buying an additional 87 shares during the period. Sageworth Trust Co bought a new stake in shares of Meta Platforms during the 1st quarter worth about $26,000. MBM Wealth Consultants LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth about $26,000. Finally, Chelsea Counsel Co. bought a new stake in shares of Meta Platforms during the 4th quarter worth about $27,000. Institutional investors own 62.87% of the company’s stock.

Analyst Ratings Changes

META has been the subject of several research analyst reports. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $280.00 to $336.00 in a report on Friday, July 21st. Truist Financial boosted their price objective on shares of Meta Platforms from $340.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Mizuho boosted their price objective on shares of Meta Platforms from $280.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. UBS Group boosted their price objective on shares of Meta Platforms from $335.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, Guggenheim boosted their price objective on shares of Meta Platforms from $320.00 to $375.00 in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $319.79.

Meta Platforms Trading Down 3.7 %

Shares of Meta Platforms stock opened at $300.31 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.32 and a current ratio of 2.32. Meta Platforms, Inc. has a 52 week low of $88.09 and a 52 week high of $326.20. The stock has a 50 day moving average price of $302.23 and a two-hundred day moving average price of $259.90. The stock has a market capitalization of $772.75 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 26th. The social networking company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.36. Meta Platforms had a return on equity of 21.72% and a net margin of 18.70%. The firm had revenue of $32 billion during the quarter, compared to analysts’ expectations of $30.91 billion. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 13.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 670 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $292.55, for a total value of $196,008.50. Following the completion of the sale, the insider now owns 39,690 shares of the company’s stock, valued at $11,611,309.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jennifer Newstead sold 670 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $292.55, for a total transaction of $196,008.50. Following the transaction, the insider now owns 39,690 shares of the company’s stock, valued at $11,611,309.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Andrew Bosworth sold 8,032 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $2,459,318.08. Following the transaction, the chief technology officer now directly owns 11,588 shares in the company, valued at approximately $3,548,129.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,179 shares of company stock valued at $12,474,820. Company insiders own 13.75% of the company’s stock.

Meta Platforms Company Profile

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.