GSG Advisors LLC Buys Shares of 1,516 Meta Platforms, Inc. (NASDAQ:META)

GSG Advisors LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,516 shares of the social networking company’s stock, valued at approximately $455,000.

Other hedge funds also recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC purchased a new position in shares of Meta Platforms during the 2nd quarter worth approximately $30,000. Altshuler Shaham Ltd purchased a new position in shares of Meta Platforms during the 2nd quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Meta Platforms during the 3rd quarter worth approximately $40,000. Hibernia Wealth Partners LLC purchased a new position in shares of Meta Platforms during the 3rd quarter worth approximately $47,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in shares of Meta Platforms during the 2nd quarter worth approximately $45,000. 62.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 47,690 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $354.08, for a total transaction of $16,886,075.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 47,690 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $354.08, for a total value of $16,886,075.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 10,642 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $336.31, for a total transaction of $3,579,011.02. Following the completion of the sale, the chief financial officer now owns 89,509 shares in the company, valued at approximately $30,102,771.79. The disclosure for this sale can be found here. Insiders have sold a total of 744,978 shares of company stock worth $250,659,740 over the last quarter. 13.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Meta Platforms from $365.00 to $355.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. KeyCorp raised their target price on shares of Meta Platforms from $356.00 to $380.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Rosenblatt Securities raised their target price on shares of Meta Platforms from $372.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Truist Financial raised their target price on shares of Meta Platforms from $390.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Oppenheimer restated an “outperform” rating and set a $385.00 target price on shares of Meta Platforms in a research report on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, forty-two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $358.07.

View Our Latest Research Report on META

Meta Platforms Price Performance

META opened at $374.49 on Friday. The company has a 50-day moving average of $340.18 and a 200-day moving average of $315.91. The company has a market capitalization of $962.39 billion, a P/E ratio of 33.05, a PEG ratio of 0.98 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $132.14 and a 1-year high of $377.06. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.57 and a current ratio of 2.57.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results on Wednesday, October 25th. The social networking company reported $4.39 EPS for the quarter, beating the consensus estimate of $3.62 by $0.77. The business had revenue of $34.15 billion during the quarter, compared to analyst estimates of $33.58 billion. Meta Platforms had a net margin of 23.42% and a return on equity of 26.40%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.64 EPS. Equities analysts expect that Meta Platforms, Inc. will post 14.34 EPS for the current fiscal year.

Meta Platforms Company Profile

(Free Report)

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.

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

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