Westfield Capital Management Co. LP Has $256.42 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Westfield Capital Management Co. LP cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 724,433 shares of the social networking company’s stock after selling 10,255 shares during the period. Meta Platforms makes up about 1.5% of Westfield Capital Management Co. LP’s holdings, making the stock its 9th biggest position. Westfield Capital Management Co. LP’s holdings in Meta Platforms were worth $256,420,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Stone House Investment Management LLC raised its holdings in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the period. Quest Partners LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $32,000. Gilfoyle & Co LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth $39,000. Cranbrook Wealth Management LLC grew its holdings in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC raised its position in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on META shares. Susquehanna lifted their target price on Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Canaccord Genuity Group lowered their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Raymond James cut their price objective on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating for the company in a report on Thursday, April 25th. Finally, Tigress Financial boosted their target price on Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $509.80.

Insider Activity

In related news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the sale, the insider now directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the sale, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of the transaction, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at $35,190,573. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 886,466 shares of company stock worth $438,582,433. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

NASDAQ:META traded up $12.44 during mid-day trading on Friday, hitting $478.22. The company’s stock had a trading volume of 12,012,375 shares, compared to its average volume of 17,476,635. The company has a market capitalization of $1.21 trillion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 1.21 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a fifty-two week low of $249.17 and a fifty-two week high of $531.49. The stock has a fifty day moving average of $484.07 and a 200-day moving average of $425.28.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.18 EPS for the current fiscal year.

About Meta Platforms

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.