Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Reduced by Long Corridor Asset Management Ltd

Long Corridor Asset Management Ltd decreased its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 11.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,000 shares of the social networking company’s stock after selling 5,000 shares during the period. Meta Platforms comprises approximately 10.5% of Long Corridor Asset Management Ltd’s portfolio, making the stock its 4th biggest holding. Long Corridor Asset Management Ltd’s holdings in Meta Platforms were worth $12,008,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. MBM Wealth Consultants LLC bought a new position in shares of Meta Platforms in the fourth quarter worth $26,000. Altshuler Shaham Ltd bought a new position in shares of Meta Platforms in the second quarter worth $30,000. Stephens Investment Management Group LLC bought a new position in shares of Meta Platforms in the second quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Meta Platforms in the third quarter worth $40,000. Finally, Red Tortoise LLC increased its holdings in shares of 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 purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 62.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on META. Piper Sandler decreased their price target on shares of Meta Platforms from $365.00 to $355.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. Guggenheim upped their price target on shares of Meta Platforms from $375.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, September 27th. Morgan Stanley reissued an “overweight” rating and issued a $375.00 target price on shares of Meta Platforms in a research note on Thursday, September 28th. Wedbush increased their target price on Meta Platforms from $350.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 27th. Finally, Barclays reduced their target price on Meta Platforms from $410.00 to $400.00 and set an “overweight” rating on the stock in a research note on Thursday, October 26th. Two 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 given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $358.07.

Get Our Latest Stock Analysis on Meta Platforms

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 670 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $316.78, for a total transaction of $212,242.60. Following the completion of the transaction, the insider now owns 33,660 shares of the company’s stock, valued at approximately $10,662,814.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jennifer Newstead sold 670 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $316.78, for a total value of $212,242.60. Following the sale, the insider now directly owns 33,660 shares of the company’s stock, valued at approximately $10,662,814.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 28,009 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $310.60, for a total transaction of $8,699,595.40. The disclosure for this sale can be found here. Insiders sold 744,978 shares of company stock valued at $250,659,740 in the last 90 days. Insiders own 13.75% of the company’s stock.

Meta Platforms Trading Up 1.3 %

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

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, October 25th. The social networking company reported $4.39 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.77. Meta Platforms had a net margin of 23.42% and a return on equity of 26.40%. The company had revenue of $34.15 billion during the quarter, compared to the consensus estimate of $33.58 billion. During the same quarter in the prior year, the firm posted $1.64 EPS. Meta Platforms’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 14.34 earnings per share 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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