Orion Portfolio Solutions LLC Sells 2,147 Shares of Meta Platforms, Inc. (NASDAQ:META)

Orion Portfolio Solutions LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,843 shares of the social networking company’s stock after selling 2,147 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Meta Platforms were worth $17,665,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Stephens Investment Management Group LLC bought a new position in shares of Meta Platforms during the second quarter valued at $30,000. Altshuler Shaham Ltd bought a new position in shares of Meta Platforms during the second quarter valued at $30,000. PayPay Securities Corp lifted its holdings in shares of Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 43 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Meta Platforms during the third quarter valued at $40,000. Finally, Hibernia Wealth Partners LLC bought a new position in shares of Meta Platforms during the third quarter valued at $47,000. 62.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Raymond James initiated coverage on Meta Platforms in a report on Wednesday, December 20th. They set a “strong-buy” rating and a $425.00 price target on the stock. BMO Capital Markets initiated coverage on Meta Platforms in a research report on Tuesday, January 9th. They set a “market perform” rating and a $397.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $400.00 price objective on shares of Meta Platforms in a research report on Thursday, October 26th. Citigroup reiterated a “buy” rating and set a $385.00 price objective on shares of Meta Platforms in a research report on Friday, September 22nd. Finally, Wedbush upped their price target on Meta Platforms from $350.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 27th. Two equities research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $360.75.

View Our Latest Stock Report on META

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 8,031 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $336.31, for a total value of $2,700,905.61. Following the sale, the chief technology officer now directly owns 15,013 shares in the company, valued at $5,049,022.03. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $338.48, for a total transaction of $191,579.68. Following the transaction, the insider now directly owns 40,380 shares in the company, valued at approximately $13,667,822.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 8,031 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $336.31, for a total value of $2,700,905.61. Following the transaction, the chief technology officer now owns 15,013 shares in the company, valued at $5,049,022.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 783,670 shares of company stock worth $264,994,944. 13.75% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

NASDAQ:META opened at $368.37 on Thursday. The firm has a market capitalization of $946.66 billion, a price-to-earnings ratio of 32.51, 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 business has a 50 day simple moving average of $343.30 and a 200-day simple moving average of $317.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.57 and a quick ratio of 2.57.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Wednesday, October 25th. The social networking company reported $4.39 earnings per share (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 return on equity of 26.40% and a net margin of 23.42%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the company earned $1.64 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 14.34 EPS for the current year.

About Meta Platforms

(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.

Further Reading

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

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