Tlwm Lowers Stake in Meta Platforms, Inc. (NASDAQ:META)

Tlwm decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,751 shares of the social networking company’s stock after selling 64 shares during the period. Meta Platforms makes up approximately 0.6% of Tlwm’s holdings, making the stock its 16th largest holding. Tlwm’s holdings in Meta Platforms were worth $2,224,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. McLean Asset Management Corp raised its position in shares of Meta Platforms by 3.2% during the 2nd quarter. McLean Asset Management Corp now owns 1,127 shares of the social networking company’s stock valued at $323,000 after acquiring an additional 35 shares in the last quarter. Norway Savings Bank boosted its holdings in shares of Meta Platforms by 1.7% in the 2nd quarter. Norway Savings Bank now owns 2,331 shares of the social networking company’s stock valued at $669,000 after buying an additional 40 shares during the period. Financial Avengers Inc. grew its position in shares of Meta Platforms by 10.4% during the 1st quarter. Financial Avengers Inc. now owns 457 shares of the social networking company’s stock valued at $97,000 after buying an additional 43 shares during the last quarter. Guyasuta Investment Advisors Inc. raised its stake in Meta Platforms by 0.8% during the first quarter. Guyasuta Investment Advisors Inc. now owns 5,570 shares of the social networking company’s stock worth $1,181,000 after acquiring an additional 45 shares during the period. Finally, Red Tortoise LLC lifted its holdings in Meta Platforms by 32.2% in the first quarter. Red Tortoise LLC now owns 189 shares of the social networking company’s stock worth $40,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 62.87% of the company’s stock.

Insider Activity at Meta Platforms

In other news, CFO Susan J. Li sold 10,643 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total value of $3,258,780.17. Following the sale, the chief financial officer now directly owns 91,617 shares in the company, valued at $28,052,209.23. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Susan J. Li sold 10,643 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total value of $3,258,780.17. Following the sale, the chief financial officer now owns 91,617 shares of the company’s stock, valued at approximately $28,052,209.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 722 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $282.00, for a total value of $203,604.00. Following the transaction, the insider now directly owns 34,478 shares of the company’s stock, valued at approximately $9,722,796. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,457 shares of company stock valued at $12,273,577. 14.03% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Rosenblatt Securities increased their price target on Meta Platforms from $333.00 to $372.00 in a research report on Thursday, July 27th. Oppenheimer lifted their price objective on shares of Meta Platforms from $350.00 to $385.00 in a research report on Thursday, July 27th. Wedbush started coverage on shares of Meta Platforms in a research note on Monday, August 21st. They issued an “outperform” rating and a $350.00 price target on the stock. UBS Group lifted their price target on Meta Platforms from $335.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Meta Platforms from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, forty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $319.79.

Meta Platforms Stock Up 0.7 %

NASDAQ META opened at $302.55 on Tuesday. The stock’s 50 day moving average is $302.40 and its two-hundred day moving average is $260.80. The company has a market capitalization of $778.51 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 0.99 and a beta of 1.23. Meta Platforms, Inc. has a 1-year low of $88.09 and a 1-year high of $326.20. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.14.

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

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.