Meitav Dash Investments Ltd. Buys 55,055 Shares of Meta Platforms, Inc. (NASDAQ:META)

Meitav Dash Investments Ltd. boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 16.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 391,317 shares of the social networking company’s stock after purchasing an additional 55,055 shares during the period. Meta Platforms comprises approximately 1.3% of Meitav Dash Investments Ltd.’s holdings, making the stock its 17th largest position. Meitav Dash Investments Ltd.’s holdings in Meta Platforms were worth $86,818,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Meta Platforms by 1.2% during the 4th quarter. BlackRock Inc. now owns 158,101,319 shares of the social networking company’s stock valued at $53,177,378,000 after purchasing an additional 1,909,538 shares during the period. State Street Corp grew its position in shares of Meta Platforms by 2.0% in the 4th quarter. State Street Corp now owns 94,303,590 shares of the social networking company’s stock worth $31,719,012,000 after buying an additional 1,887,737 shares during the last quarter. Capital International Investors grew its position in shares of Meta Platforms by 5.9% in the 4th quarter. Capital International Investors now owns 51,769,038 shares of the social networking company’s stock worth $17,413,576,000 after buying an additional 2,888,336 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Meta Platforms by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 40,627,257 shares of the social networking company’s stock worth $13,629,910,000 after buying an additional 950,662 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Meta Platforms in the 4th quarter worth approximately $9,595,113,000. Institutional investors own 65.49% of the company’s stock.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 311 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $199.60, for a total value of $62,075.60. Following the completion of the sale, the insider now owns 12,187 shares of the company’s stock, valued at $2,432,525.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, CAO Susan J.S. Taylor sold 1,420 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $202.16, for a total value of $287,067.20. Following the transaction, the chief accounting officer now owns 1,605 shares of the company’s stock, valued at $324,466.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 311 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $199.60, for a total transaction of $62,075.60. Following the completion of the transaction, the insider now directly owns 12,187 shares in the company, valued at approximately $2,432,525.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,236 shares of company stock valued at $8,958,728. 13.59% of the stock is owned by company insiders.

Meta Platforms Trading Down 2.0 %

Shares of META opened at $167.11 on Friday. Meta Platforms, Inc. has a 12-month low of $154.25 and a 12-month high of $384.33. The firm has a 50-day moving average price of $166.98 and a 200 day moving average price of $182.37. The firm has a market capitalization of $449.12 billion, a P/E ratio of 13.85, a P/E/G ratio of 2.26 and a beta of 1.32.

Meta Platforms (NASDAQ:METAGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The social networking company reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.04). Meta Platforms had a net margin of 28.16% and a return on equity of 26.52%. The firm had revenue of $28.82 billion during the quarter, compared to analysts’ expectations of $28.95 billion. During the same period in the prior year, the company posted $3.61 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts predict that Meta Platforms, Inc. will post 9.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on META shares. Moffett Nathanson cut their price objective on shares of Meta Platforms to $280.00 in a research report on Thursday, May 26th. JPMorgan Chase & Co. cut their price objective on shares of Meta Platforms from $275.00 to $225.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 29th. Itau BBA Securities began coverage on shares of Meta Platforms in a research report on Tuesday, July 26th. They issued a “market perform” rating and a $188.00 price objective on the stock. KeyCorp dropped their target price on shares of Meta Platforms from $280.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 26th. Finally, Raymond James dropped their target price on shares of Meta Platforms from $340.00 to $290.00 in a research report on Thursday, April 28th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $257.98.

Meta Platforms Profile

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Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; 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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