2,702 Shares in Meta Platforms, Inc. $META Acquired by Ponta Wealth Partners LLC

Ponta Wealth Partners LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,702 shares of the social networking company’s stock, valued at approximately $1,784,000. Meta Platforms accounts for about 1.7% of Ponta Wealth Partners LLC’s holdings, making the stock its 14th largest position.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC increased its stake in Meta Platforms by 34.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 52,252 shares of the social networking company’s stock worth $38,373,000 after buying an additional 13,311 shares during the period. Keybank National Association OH increased its stake in Meta Platforms by 15.7% during the 4th quarter. Keybank National Association OH now owns 133,798 shares of the social networking company’s stock worth $88,319,000 after buying an additional 18,169 shares during the period. Becker Capital Management Inc. increased its position in shares of Meta Platforms by 5.0% in the 3rd quarter. Becker Capital Management Inc. now owns 35,052 shares of the social networking company’s stock valued at $25,741,000 after purchasing an additional 1,657 shares during the last quarter. Diversified Trust Co. increased its position in shares of Meta Platforms by 4.1% in the 4th quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company’s stock valued at $55,487,000 after purchasing an additional 3,336 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC increased its position in shares of Meta Platforms by 16.2% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 6,933 shares of the social networking company’s stock valued at $5,091,000 after purchasing an additional 968 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Robert M. Kimmitt sold 580 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $667.00, for a total transaction of $386,860.00. Following the completion of the sale, the director owned 3,847 shares in the company, valued at $2,565,949. This represents a 13.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 926 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $604.57, for a total transaction of $559,831.82. Following the sale, the chief operating officer owned 6,853 shares of the company’s stock, valued at approximately $4,143,118.21. This represents a 11.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 160,352 shares of company stock valued at $102,559,436. 13.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on META. Truist Financial dropped their price objective on shares of Meta Platforms from $900.00 to $840.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $725.00 price objective (down from $825.00) on shares of Meta Platforms in a research report on Thursday, April 30th. Monness Crespi & Hardt increased their price objective on shares of Meta Platforms from $808.00 to $890.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Bank of America dropped their price objective on shares of Meta Platforms from $885.00 to $820.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Finally, Barclays increased their price objective on shares of Meta Platforms from $800.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $840.31.

Read Our Latest Analysis on Meta Platforms

Meta Platforms Stock Down 0.7%

Shares of NASDAQ:META opened at $614.23 on Friday. The stock has a market cap of $1.55 trillion, a P/E ratio of 22.33, a P/E/G ratio of 1.08 and a beta of 1.25. The firm has a fifty day moving average price of $622.18 and a 200 day moving average price of $640.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. The firm had revenue of $56.31 billion during the quarter, compared to analysts’ expectations of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. Meta Platforms’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.43 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 29.65 EPS for the current year.

Key Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

See Also

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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