Good Life Advisors LLC Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

Good Life Advisors LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.7% in the second quarter, Holdings Channel reports. The firm owned 10,072 shares of the social networking company’s stock after purchasing an additional 453 shares during the period. Good Life Advisors LLC’s holdings in Meta Platforms were worth $2,890,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Credit Suisse AG purchased a new position in Meta Platforms in the fourth quarter worth $481,262,000. Catalyst Financial Partners LLC increased its position in shares of Meta Platforms by 18.7% during the 1st quarter. Catalyst Financial Partners LLC now owns 4,287 shares of the social networking company’s stock valued at $909,000 after purchasing an additional 675 shares during the last quarter. Hall Capital Management Co. Inc. purchased a new position in shares of Meta Platforms during the 1st quarter valued at about $205,000. Aspire Private Capital LLC lifted its position in Meta Platforms by 139.0% in the 1st quarter. Aspire Private Capital LLC now owns 1,293 shares of the social networking company’s stock worth $274,000 after buying an additional 752 shares during the last quarter. Finally, Audent Global Asset Management LLC purchased a new stake in Meta Platforms in the fourth quarter worth approximately $392,000. Institutional investors own 62.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stifel Nicolaus lifted their price target on shares of Meta Platforms from $280.00 to $336.00 in a research note on Friday, July 21st. Tigress Financial lifted their target price on shares of Meta Platforms from $285.00 to $380.00 in a research report on Thursday, July 6th. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $305.00 to $425.00 in a research report on Thursday, July 27th. Morgan Stanley lifted their price objective on Meta Platforms from $350.00 to $375.00 in a report on Thursday, July 27th. Finally, Credit Suisse Group increased their target price on Meta Platforms from $361.00 to $407.00 in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, forty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $319.79.

Meta Platforms Stock Performance

Shares of META stock opened at $300.31 on Monday. The company has a market capitalization of $772.75 billion, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.32 and a current ratio of 2.32. Meta Platforms, Inc. has a one year low of $88.09 and a one year high of $326.20. The company’s 50-day moving average is $302.23 and its 200 day moving average is $259.90.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 26th. The social networking company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.36. Meta Platforms had a net margin of 18.70% and a return on equity of 21.72%. The firm had revenue of $32 billion for the quarter, compared to analysts’ expectations of $30.91 billion. Sell-side analysts expect that Meta Platforms, Inc. will post 13.17 EPS for the current fiscal year.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 722 shares of the business’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $278.73, for a total value of $201,243.06. Following the completion of the transaction, the insider now owns 35,200 shares of the company’s stock, valued at approximately $9,811,296. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Susan J. Li sold 10,643 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $3,258,780.17. Following the sale, the chief financial officer now owns 91,617 shares in the company, valued at $28,052,209.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 722 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $278.73, for a total transaction of $201,243.06. Following the sale, the insider now owns 35,200 shares of the company’s stock, valued at $9,811,296. The disclosure for this sale can be found here. Insiders have sold a total of 41,179 shares of company stock valued at $12,474,820 over the last ninety days. 13.75% of the stock is currently owned by corporate insiders.

Meta Platforms Company Profile

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.