Meta Platforms, Inc. (NASDAQ:META) Shares Sold by MJP Associates Inc. ADV

MJP Associates Inc. ADV lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 21.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,159 shares of the social networking company’s stock after selling 850 shares during the quarter. MJP Associates Inc. ADV’s holdings in Meta Platforms were worth $907,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of META. McLean Asset Management Corp lifted its holdings in shares of Meta Platforms by 3.2% during the second quarter. McLean Asset Management Corp now owns 1,127 shares of the social networking company’s stock valued at $323,000 after purchasing an additional 35 shares during the last quarter. Norway Savings Bank raised its holdings in Meta Platforms by 1.7% during the 2nd quarter. Norway Savings Bank now owns 2,331 shares of the social networking company’s stock worth $669,000 after buying an additional 40 shares during the period. Financial Avengers Inc. lifted its stake in Meta Platforms by 10.4% during the first quarter. Financial Avengers Inc. now owns 457 shares of the social networking company’s stock valued at $97,000 after buying an additional 43 shares in the last quarter. Guyasuta Investment Advisors Inc. boosted its holdings in shares of Meta Platforms by 0.8% in the first quarter. Guyasuta Investment Advisors Inc. now owns 5,570 shares of the social networking company’s stock worth $1,181,000 after buying an additional 45 shares during the period. Finally, Red Tortoise LLC increased its position in shares of Meta Platforms by 32.2% in the first quarter. Red Tortoise LLC now owns 189 shares of the social networking company’s stock worth $40,000 after acquiring an additional 46 shares in the last quarter. 62.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on META. Susquehanna lifted their price objective on shares of Meta Platforms from $310.00 to $400.00 in a research report on Thursday, July 27th. Citigroup upped their price target on Meta Platforms from $360.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Stifel Nicolaus raised their price objective on Meta Platforms from $280.00 to $336.00 in a research report on Friday, July 21st. Rosenblatt Securities upped their target price on Meta Platforms from $333.00 to $372.00 in a report on Thursday, July 27th. Finally, Loop Capital raised their price target on shares of Meta Platforms from $365.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Two analysts have rated the stock with a sell rating, five have given 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 presently has an average rating of “Moderate Buy” and a consensus target price of $319.79.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $302.55 on Tuesday. The firm’s 50-day moving average price is $302.40 and its two-hundred day moving average price is $260.80. Meta Platforms, Inc. has a 1-year low of $88.09 and a 1-year high of $326.20. The stock has a market capitalization of $778.51 billion, a price-to-earnings ratio of 35.26, a P/E/G ratio of 0.99 and a beta of 1.23. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.14.

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

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 722 shares of Meta Platforms stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $286.70, for a total value of $206,997.40. Following the completion of the sale, the insider now directly owns 33,756 shares of the company’s stock, valued at approximately $9,677,845.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, insider Jennifer Newstead sold 722 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $286.70, for a total transaction of $206,997.40. Following the transaction, the insider now owns 33,756 shares in the company, valued at $9,677,845.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 8,032 shares of the company’s stock in a transaction 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 owns 11,588 shares of the company’s stock, valued at approximately $3,548,129.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,457 shares of company stock valued at $12,273,577. 14.03% of the stock is currently owned by corporate insiders.

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.