Crestone Asset Management LLC Sells 117 Shares of Meta Platforms, Inc. (NASDAQ:META)

Crestone Asset Management LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,081 shares of the social networking company’s stock after selling 117 shares during the period. Crestone Asset Management LLC’s holdings in Meta Platforms were worth $383,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in Meta Platforms by 4.0% in the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after acquiring an additional 5,001,647 shares during the period. International Assets Investment Management LLC grew its position in Meta Platforms by 11,154.4% in the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after acquiring an additional 4,908,251 shares during the period. Concentrum Wealth Management lifted its holdings in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Meta Platforms by 55.9% in the 3rd 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 in the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of Meta Platforms by 1,457.5% in the 4th quarter. Cerity Partners LLC now owns 3,156,360 shares of the social networking company’s stock worth $1,117,225,000 after purchasing an additional 2,953,704 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus raised their price target on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley upped their price objective on Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Susquehanna raised their price objective on Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a research note on Friday, February 2nd. Loop Capital decreased their target price on Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group dropped their target price on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $509.80.

Meta Platforms Price Performance

NASDAQ META traded up $4.36 during trading on Wednesday, reaching $472.60. The company’s stock had a trading volume of 11,658,333 shares, compared to its average volume of 18,224,012. The stock has a market capitalization of $1.20 trillion, a PE ratio of 27.15, a P/E/G ratio of 1.18 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a fifty day moving average of $490.03 and a 200 day moving average of $411.78. Meta Platforms, Inc. has a one year low of $230.72 and a one year high of $531.49.

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

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 34,398 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $469.69, for a total transaction of $16,156,396.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, CFO Susan J. Li sold 10,956 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were 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 owns 76,398 shares in the company, valued at approximately $36,157,645.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 34,398 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $469.69, for a total transaction of $16,156,396.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,223,416 shares of company stock valued at $597,392,856. Corporate insiders own 13.71% of the company’s stock.

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.