Sora Investors LLC Trims Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Sora Investors LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 24.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,599 shares of the social networking company’s stock after selling 7,401 shares during the period. Meta Platforms accounts for about 1.5% of Sora Investors LLC’s portfolio, making the stock its 29th largest holding. Sora Investors LLC’s holdings in Meta Platforms were worth $13,232,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Ballentine Partners LLC increased its stake in shares of Meta Platforms by 1.4% during the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock worth $34,087,000 after buying an additional 808 shares during the period. UMB Bank n.a. raised its holdings in shares of Meta Platforms by 0.6% in the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock valued at $82,314,000 after purchasing an additional 897 shares in the last quarter. Brueske Advisory Services LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth $459,000. Apollon Financial LLC increased its holdings in Meta Platforms by 11.1% in the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock valued at $866,000 after buying an additional 148 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its stake in Meta Platforms by 255.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company’s stock valued at $1,001,044,000 after buying an additional 1,229,350 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Meta Platforms stock opened at $643.88 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm’s fifty day moving average price is $570.68 and its 200 day moving average price is $606.39. The company has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the business posted $4.71 earnings per share. Meta Platforms’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of the stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the transaction, the chief financial officer now owns 51,793 shares of the company’s stock, valued at $38,154,349.31. This trade represents a 14.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,466,769.02. Following the completion of the transaction, the chief operating officer now owns 20,935 shares of the company’s stock, valued at approximately $15,422,186.45. The trade was a 18.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,171 shares of company stock valued at $55,161,016 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Loop Capital decreased their target price on shares of Meta Platforms from $900.00 to $695.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Oppenheimer increased their price objective on Meta Platforms from $650.00 to $665.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $740.00 target price on shares of Meta Platforms in a report on Thursday, May 1st. Susquehanna lowered their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. Finally, Monness Crespi & Hardt raised their price target on Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $696.45.

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.