SignalPoint Asset Management LLC Cuts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

SignalPoint Asset Management LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 10.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,098 shares of the social networking company’s stock after selling 476 shares during the period. SignalPoint Asset Management LLC’s holdings in Meta Platforms were worth $911,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of META. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Meta Platforms by 13.4% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 627,832 shares of the social networking company’s stock valued at $211,181,000 after acquiring an additional 74,049 shares during the period. TrueWealth Advisors LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at $250,000. Helios Capital Management PTE. Ltd. purchased a new position in shares of Meta Platforms in the 4th quarter valued at $3,733,000. Intelligence Driven Advisers LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at $276,000. Finally, Investment Management of Virginia LLC raised its stake in shares of Meta Platforms by 27.7% in the 4th quarter. Investment Management of Virginia LLC now owns 921 shares of the social networking company’s stock valued at $310,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 65.49% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 10,126 shares of Meta Platforms stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $203.35, for a total value of $2,059,122.10. Following the transaction, the chief technology officer now directly owns 4,544 shares of the company’s stock, valued at $924,022.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CTO Andrew Bosworth sold 10,126 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $203.35, for a total transaction of $2,059,122.10. Following the transaction, the chief technology officer now directly owns 4,544 shares of the company’s stock, valued at $924,022.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 311 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $199.60, for a total transaction of $62,075.60. Following the transaction, the insider now directly owns 12,187 shares in the company, valued at $2,432,525.20. The disclosure for this sale can be found here. Insiders have sold a total of 45,236 shares of company stock valued at $8,958,728 over the last ninety days. Corporate insiders own 13.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on META. Atlantic Securities set a $215.00 price target on shares of Meta Platforms in a report on Tuesday, July 19th. Wolfe Research lowered their price target on shares of Meta Platforms from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. JMP Securities lowered their price target on shares of Meta Platforms from $240.00 to $215.00 and set a “market outperform” rating for the company in a report on Thursday, July 28th. Ita├║ Unibanco began coverage on shares of Meta Platforms in a report on Tuesday, July 26th. They set a “market perform” rating and a $188.00 price target for the company. Finally, Evercore ISI lowered their price target on shares of Meta Platforms from $280.00 to $240.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.98.

Meta Platforms Stock Down 2.0 %

Shares of Meta Platforms stock traded down $3.46 during trading on Friday, hitting $167.11. The stock had a trading volume of 25,832,699 shares, compared to its average volume of 30,145,862. The stock has a 50 day simple moving average of $166.98 and a 200 day simple moving average of $182.37. The company has a market capitalization of $449.12 billion, a PE ratio of 13.85, a P/E/G ratio of 2.26 and a beta of 1.32. Meta Platforms, Inc. has a 1 year low of $154.25 and a 1 year high of $384.33.

Meta Platforms (NASDAQ:METAGet Rating) last released its earnings results on Wednesday, July 27th. The social networking company reported $2.46 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.04). The firm had revenue of $28.82 billion during the quarter, compared to analysts’ expectations of $28.95 billion. Meta Platforms had a return on equity of 26.52% and a net margin of 28.16%. The business’s revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $3.61 earnings per share. As a group, equities analysts expect that Meta Platforms, Inc. will post 9.58 earnings per share for the current fiscal year.

Meta Platforms Company Profile

(Get Rating)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

Further Reading

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAGet Rating).

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

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.