Flagship Harbor Advisors LLC Sells 1,637 Shares of Meta Platforms, Inc. (NASDAQ:META)

Flagship Harbor Advisors LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 18,521 shares of the social networking company’s stock after selling 1,637 shares during the period. Flagship Harbor Advisors LLC’s holdings in Meta Platforms were worth $5,315,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Worth Asset Management LLC raised its stake in shares of Meta Platforms by 248.6% during the first quarter. Worth Asset Management LLC now owns 122 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. Sageworth Trust Co bought a new position in shares of Meta Platforms during the first quarter valued at $26,000. HBC Financial Services PLLC increased its position in shares of Meta Platforms by 2,500.0% during the first quarter. HBC Financial Services PLLC now owns 130 shares of the social networking company’s stock worth $28,000 after buying an additional 125 shares during the period. Rise Advisors LLC increased its position in shares of Meta Platforms by 59.3% during the first quarter. Rise Advisors LLC now owns 137 shares of the social networking company’s stock worth $29,000 after buying an additional 51 shares during the period. Finally, Stephens Consulting LLC increased its position in shares of Meta Platforms by 44.6% during the first quarter. Stephens Consulting LLC now owns 162 shares of the social networking company’s stock worth $34,000 after buying an additional 50 shares during the period. Institutional investors own 62.87% of the company’s stock.

Meta Platforms Stock Down 3.7 %

META opened at $300.31 on Monday. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.14. The stock has a market cap of $772.75 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 1.00 and a beta of 1.23. Meta Platforms, Inc. has a twelve month low of $88.09 and a twelve month high of $326.20. The company’s 50-day moving average price is $302.23 and its two-hundred day moving average price is $259.90.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 26th. The social networking company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.36. The firm had revenue of $32 billion for the quarter, compared to analysts’ expectations of $30.91 billion. Meta Platforms had a net margin of 18.70% and a return on equity of 21.72%. As a group, equities analysts expect that Meta Platforms, Inc. will post 13.17 earnings per share for the current year.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 8,032 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total transaction of $2,459,318.08. Following the sale, the chief technology officer now directly owns 11,588 shares in the company, valued at approximately $3,548,129.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Andrew Bosworth sold 8,032 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total transaction of $2,459,318.08. Following the sale, the chief technology officer now owns 11,588 shares of the company’s stock, valued at approximately $3,548,129.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 670 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $306.34, for a total transaction of $205,247.80. Following the sale, the insider now directly owns 37,680 shares in the company, valued at approximately $11,542,891.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,179 shares of company stock worth $12,474,820. 13.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on META shares. TD Cowen upgraded shares of Meta Platforms from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $220.00 to $345.00 in a research report on Thursday, July 13th. Wells Fargo & Company upgraded shares of Meta Platforms from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $313.00 to $389.00 in a research report on Thursday, July 27th. Guggenheim increased their price objective on shares of Meta Platforms from $320.00 to $375.00 in a research report on Thursday, July 27th. Mizuho increased their price objective on shares of Meta Platforms from $280.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Finally, Bank of America increased their price objective on shares of Meta Platforms from $350.00 to $375.00 in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.79.

Meta Platforms Company 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.