Signature Resources Capital Management LLC Takes $134,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Signature Resources Capital Management LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 378 shares of the social networking company’s stock, valued at approximately $134,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Community Capital Management LLC acquired a new position in shares of Meta Platforms during the third quarter worth about $1,201,000. Bank Hapoalim BM lifted its position in Meta Platforms by 167.7% during the 3rd quarter. Bank Hapoalim BM now owns 4,791 shares of the social networking company’s stock worth $1,438,000 after acquiring an additional 3,001 shares in the last quarter. Financial Management Network Inc. boosted 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 worth $506,000 after acquiring an additional 92 shares during the period. Mount Vernon Associates Inc. MD grew its position in Meta Platforms by 0.4% in the third quarter. Mount Vernon Associates Inc. MD now owns 14,239 shares of the social networking company’s stock valued at $4,275,000 after acquiring an additional 50 shares in the last quarter. Finally, Raymond James & Associates grew its position in Meta Platforms by 10.1% in the third quarter. Raymond James & Associates now owns 2,166,843 shares of the social networking company’s stock valued at $650,508,000 after acquiring an additional 198,463 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on META. Piper Sandler restated an “overweight” rating and issued a $545.00 target price (down from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. TD Cowen lowered their target price on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Raymond James dropped their target price on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 25th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. Finally, Royal Bank of Canada dropped their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $509.80.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares in the company, valued at approximately $15,794,965.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $469.67, for a total value of $45,601,669.31. The disclosure for this sale can be found here. Insiders sold 1,257,876 shares of company stock valued at $613,168,252 over the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

Shares of NASDAQ:META traded up $10.28 during trading on Friday, reaching $451.96. The company had a trading volume of 16,489,057 shares, compared to its average volume of 20,698,000. The firm’s fifty day moving average is $490.72 and its 200 day moving average is $408.34. 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 $1.15 trillion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 1.18 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $229.85 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate 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%. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.1 EPS for the current year.

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.