LifePro Asset Management Invests $446,000 in Meta Platforms, Inc. (NASDAQ:META)

LifePro Asset Management acquired a new position in Meta Platforms, Inc. (NASDAQ:META) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,552 shares of the social networking company’s stock, valued at approximately $446,000.

Other hedge funds have also recently made changes to their positions in the company. Fairfield Bush & CO. bought a new stake in Meta Platforms during the 1st quarter valued at $66,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Meta Platforms by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,244,201 shares of the social networking company’s stock valued at $499,020,000 after buying an additional 249,926 shares during the last quarter. Ergoteles LLC raised its holdings in Meta Platforms by 284.0% during the 1st quarter. Ergoteles LLC now owns 3,356 shares of the social networking company’s stock valued at $746,000 after buying an additional 2,482 shares during the last quarter. First Western Trust Bank bought a new stake in Meta Platforms during the 1st quarter valued at $813,000. Finally, Oxford Financial Group Ltd. raised its holdings in Meta Platforms by 26.9% during the 1st quarter. Oxford Financial Group Ltd. now owns 1,888 shares of the social networking company’s stock valued at $420,000 after buying an additional 400 shares during the last quarter. 62.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 670 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $306.34, for a total transaction of $205,247.80. Following the sale, the insider now owns 37,680 shares in the company, valued at approximately $11,542,891.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Meta Platforms news, CTO Andrew Bosworth sold 8,032 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total transaction of $2,459,318.08. Following the completion of the sale, the chief technology officer now directly owns 11,588 shares of the company’s stock, valued at approximately $3,548,129.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 670 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $306.34, for a total transaction of $205,247.80. Following the sale, the insider now directly owns 37,680 shares of the company’s stock, valued at $11,542,891.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,457 shares of company stock worth $12,273,577. Company insiders own 14.03% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $302.55 on Tuesday. The firm’s 50 day moving average price is $302.40 and its 200-day moving average price is $260.80. Meta Platforms, Inc. has a twelve month low of $88.09 and a twelve month high of $326.20. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $778.51 billion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 0.99 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 26th. The social networking company reported $3.23 EPS for the quarter, topping 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 company had revenue of $32 billion for the quarter, compared to analysts’ expectations of $30.91 billion. Equities research analysts expect that Meta Platforms, Inc. will post 13.17 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on META shares. TD Cowen upgraded shares of Meta Platforms from a “market perform” rating to an “outperform” rating and upped their price target for the company from $220.00 to $345.00 in a report on Thursday, July 13th. Mizuho boosted their price objective on shares of Meta Platforms from $280.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Wells Fargo & Company raised shares of Meta Platforms from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $313.00 to $389.00 in a research report on Thursday, July 27th. CICC Research began coverage on shares of Meta Platforms in a research report on Monday, August 28th. They set an “outperform” rating on the stock. Finally, Tigress Financial boosted their price objective on shares of Meta Platforms from $285.00 to $380.00 in a research report on Thursday, July 6th. Two 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $319.79.

About Meta Platforms

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.