Thrive Wealth Management LLC Has $756,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

Thrive Wealth Management LLC lessened its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 36.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,633 shares of the social networking company’s stock after selling 1,520 shares during the quarter. Thrive Wealth Management LLC’s holdings in Meta Platforms were worth $756,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Worth Asset Management LLC boosted its stake in Meta Platforms by 248.6% in the 1st quarter. Worth Asset Management LLC now owns 122 shares of the social networking company’s stock valued at $26,000 after buying an additional 87 shares in the last quarter. Sageworth Trust Co acquired a new position in Meta Platforms in the first quarter worth $26,000. HBC Financial Services PLLC boosted its stake in Meta Platforms by 2,500.0% in the first quarter. HBC Financial Services PLLC now owns 130 shares of the social networking company’s stock worth $28,000 after purchasing an additional 125 shares in the last quarter. Rise Advisors LLC boosted its stake in Meta Platforms by 59.3% in the first quarter. Rise Advisors LLC now owns 137 shares of the social networking company’s stock worth $29,000 after purchasing an additional 51 shares in the last quarter. Finally, Stephens Consulting LLC boosted its stake in Meta Platforms by 44.6% in the first quarter. Stephens Consulting LLC now owns 162 shares of the social networking company’s stock worth $34,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 62.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on META. Susquehanna boosted their price objective on Meta Platforms from $310.00 to $400.00 in a research note on Thursday, July 27th. HSBC raised Meta Platforms from a “reduce” rating to a “hold” rating and set a $285.00 price target on the stock in a research note on Thursday, July 27th. The Goldman Sachs Group upped their price target on Meta Platforms from $300.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, July 17th. Deutsche Bank Aktiengesellschaft upped their price target on Meta Platforms from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, July 12th. Finally, CICC Research began coverage on Meta Platforms in a research note on Monday, August 28th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, forty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $319.79.

Meta Platforms Trading Up 0.7 %

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

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

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 722 shares of Meta Platforms stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $282.00, for a total transaction of $203,604.00. Following the transaction, the insider now directly owns 34,478 shares of the company’s stock, valued at approximately $9,722,796. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, insider Jennifer Newstead sold 722 shares of Meta Platforms stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $282.00, for a total transaction of $203,604.00. Following the transaction, the insider now directly owns 34,478 shares of the company’s stock, valued at approximately $9,722,796. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 4,277 shares of Meta Platforms stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $293.00, for a total value of $1,253,161.00. Following the transaction, the chief operating officer now directly owns 82,858 shares in the company, valued at $24,277,394. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,457 shares of company stock valued at $12,273,577. 14.03% of the stock is currently owned by company insiders.

Meta Platforms 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.