E Fund Management Co. Ltd. Has $5.44 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

E Fund Management Co. Ltd. lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 11.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 15,377 shares of the social networking company’s stock after selling 1,928 shares during the period. Meta Platforms makes up about 0.3% of E Fund Management Co. Ltd.’s holdings, making the stock its 27th largest position. E Fund Management Co. Ltd.’s holdings in Meta Platforms were worth $5,443,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FMR LLC boosted its holdings in shares of Meta Platforms by 4.0% in the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after buying an additional 5,001,647 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Meta Platforms by 11,154.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after purchasing an additional 4,908,251 shares during the last quarter. Concentrum Wealth Management raised its holdings in shares of Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Meta Platforms by 55.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,632,631 shares of the social networking company’s stock valued at $2,591,602,000 after purchasing an additional 3,093,715 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in Meta Platforms by 1,457.5% during the fourth quarter. Cerity Partners LLC now owns 3,156,360 shares of the social networking company’s stock valued at $1,117,225,000 after purchasing an additional 2,953,704 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

META stock traded up $2.82 during midday trading on Thursday, reaching $475.42. 9,416,896 shares of the company’s stock traded hands, compared to its average volume of 18,123,613. The stock’s 50-day moving average is $489.80 and its 200 day moving average is $412.20. The stock has a market cap of $1.21 trillion, a P/E ratio of 27.24, a PEG ratio of 1.18 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $230.72 and a 52-week high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. As a group, analysts anticipate that Meta Platforms, Inc. will post 20.1 EPS for the current year.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 10,956 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the sale, the chief financial officer now directly owns 76,398 shares in the company, valued at $36,157,645.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Susan J. Li sold 10,956 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $5,185,255.68. Following the sale, the chief financial officer now directly owns 76,398 shares of the company’s stock, valued at approximately $36,157,645.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $445.93, for a total value of $218,505.70. Following the transaction, the chief operating officer now owns 6,109 shares of the company’s stock, valued at approximately $2,724,186.37. The disclosure for this sale can be found here. Insiders have sold a total of 1,223,416 shares of company stock valued at $597,392,856 over the last 90 days. 13.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

META has been the subject of a number of recent research reports. Sanford C. Bernstein reduced their price objective on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Tigress Financial raised their target price on Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 9th. Loop Capital lowered their price target on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Wolfe Research reduced their price objective on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, Guggenheim reduced their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $509.80.

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.