Levin Capital Strategies L.P. Has $304,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Levin Capital Strategies L.P. lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 53.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 860 shares of the social networking company’s stock after selling 1,000 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Meta Platforms were worth $304,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in META. Community Capital Management LLC acquired a new position in shares of Meta Platforms in the third quarter valued at $1,201,000. Bank Hapoalim BM grew its stake in Meta Platforms by 167.7% in the 3rd quarter. Bank Hapoalim BM now owns 4,791 shares of the social networking company’s stock valued at $1,438,000 after buying an additional 3,001 shares during the last quarter. Financial Management Network Inc. raised its holdings in Meta Platforms by 5.9% in the 3rd quarter. Financial Management Network Inc. now owns 1,656 shares of the social networking company’s stock valued at $506,000 after acquiring an additional 92 shares during the period. Mount Vernon Associates Inc. MD lifted its position in Meta Platforms by 0.4% during the third quarter. Mount Vernon Associates Inc. MD now owns 14,239 shares of the social networking company’s stock worth $4,275,000 after acquiring an additional 50 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in Meta Platforms by 10.1% during the 3rd quarter. Raymond James & Associates now owns 2,166,843 shares of the social networking company’s stock worth $650,508,000 after purchasing an additional 198,463 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the sale, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the transaction, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the sale, the insider now directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Insiders have sold 1,257,876 shares of company stock valued at $613,168,252 in the last ninety days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 2.3 %

Shares of NASDAQ META traded up $10.28 during mid-day trading on Friday, hitting $451.96. 16,474,126 shares of the stock traded hands, compared to its average volume of 18,392,596. Meta Platforms, Inc. has a 52 week low of $229.85 and a 52 week 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 stock has a fifty day moving average price of $491.36 and a 200-day moving average price of $407.43. The company has a market cap of $1.15 trillion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.14 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its earnings results 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 analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Research analysts anticipate that Meta Platforms, Inc. will post 20.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on META shares. Wedbush decreased their price target on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Canaccord Genuity Group upped their target price on Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Canaccord Genuity Group cut their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Susquehanna upped their price objective on Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a research note on Friday, February 2nd. Finally, Bank of America boosted their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Two research 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 given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $509.80.

Meta Platforms 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.