Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Bfsg LLC

Bfsg LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,547 shares of the social networking company’s stock after selling 159 shares during the quarter. Bfsg LLC’s holdings in Meta Platforms were worth $1,284,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Lazard Freres Gestion S.A.S. increased its holdings in shares of Meta Platforms by 18.0% during the 2nd quarter. Lazard Freres Gestion S.A.S. now owns 22,678 shares of the social networking company’s stock worth $11,439,000 after buying an additional 3,455 shares during the last quarter. Axim Planning & Wealth purchased a new stake in shares of Meta Platforms during the 2nd quarter worth $203,000. Ameritas Advisory Services LLC raised its stake in Meta Platforms by 10.4% during the 2nd quarter. Ameritas Advisory Services LLC now owns 14,225 shares of the social networking company’s stock worth $7,173,000 after acquiring an additional 1,341 shares in the last quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD raised its stake in Meta Platforms by 27.4% during the 2nd quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD now owns 57,346 shares of the social networking company’s stock worth $28,907,000 after acquiring an additional 12,320 shares in the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD increased its stake in Meta Platforms by 27.3% in the second quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 19,982 shares of the social networking company’s stock valued at $10,073,000 after purchasing an additional 4,280 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Rosenblatt Securities boosted their price objective on shares of Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Loop Capital increased their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. UBS Group increased their price objective on shares of Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Tigress Financial increased their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Finally, Bank of America raised their price objective on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $477.00, for a total transaction of $431,685.00. Following the completion of the sale, the insider now directly owns 41,465 shares in the company, valued at approximately $19,778,805. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders have sold 388,078 shares of company stock valued at $200,792,168 over the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META traded down $1.17 during midday trading on Friday, hitting $517.05. 3,267,367 shares of the company traded hands, compared to its average volume of 15,956,385. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $544.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The firm has a market cap of $1.31 trillion, a P/E ratio of 29.85, a PEG ratio of 1.27 and a beta of 1.21. The stock has a 50-day moving average of $504.32 and a 200-day moving average of $492.38.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.23 earnings per share. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal 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.