Meta Platforms, Inc. (NASDAQ:META) Shares Sold by AXS Investments LLC

AXS Investments LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 21,471 shares of the social networking company’s stock after selling 64 shares during the quarter. Meta Platforms comprises approximately 1.8% of AXS Investments LLC’s portfolio, making the stock its 2nd largest position. AXS Investments LLC’s holdings in Meta Platforms were worth $7,600,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of META. Commerce Bank boosted its position in Meta Platforms by 1.0% in the 4th quarter. Commerce Bank now owns 163,034 shares of the social networking company’s stock valued at $57,708,000 after buying an additional 1,684 shares during the last quarter. US Bancorp DE grew its stake in Meta Platforms by 1.4% during the 4th quarter. US Bancorp DE now owns 744,636 shares of the social networking company’s stock valued at $263,571,000 after purchasing an additional 10,587 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Meta Platforms by 0.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 256,620 shares of the social networking company’s stock valued at $90,833,000 after purchasing an additional 1,066 shares in the last quarter. BlackDiamond Wealth Management LLC increased its holdings in Meta Platforms by 5.2% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 2,428 shares of the social networking company’s stock worth $859,000 after purchasing an additional 121 shares during the last quarter. Finally, WBI Investments LLC raised its position in shares of Meta Platforms by 4.8% in the 4th quarter. WBI Investments LLC now owns 5,601 shares of the social networking company’s stock valued at $1,982,000 after purchasing an additional 255 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $2.00 during trading hours on Thursday, hitting $465.78. 11,694,715 shares of the company’s stock traded hands, compared to its average volume of 17,505,949. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The company’s fifty day simple moving average is $484.71 and its two-hundred day simple moving average is $423.86. Meta Platforms, Inc. has a 52 week low of $244.95 and a 52 week high of $531.49. The company has a market cap of $1.18 trillion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.20 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 20.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

META has been the subject of a number of research analyst reports. Wolfe Research dropped their price target 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. Jefferies Financial Group reduced their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. BMO Capital Markets upped their price objective on Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Raymond James decreased their target price on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating for the company in a research report on Thursday, April 25th. Finally, Guggenheim dropped their price target on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $509.80.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 31,493 shares of Meta Platforms stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $487.52, for a total value of $15,353,467.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Mark Zuckerberg sold 31,493 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $487.52, for a total value of $15,353,467.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $4,223,529.35. Following the transaction, the chief financial officer now owns 74,580 shares in the company, valued at approximately $35,190,573. The disclosure for this sale can be found here. Insiders have sold 917,544 shares of company stock valued at $453,751,884 over the last three months. Company insiders own 13.71% of the company’s stock.

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.