D.B. Root & Company LLC trimmed its holdings in Meta Platforms Inc. (NASDAQ:FB – Get Rating) by 6.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,339 shares of the social networking company’s stock after selling 437 shares during the quarter. Meta Platforms makes up approximately 0.8% of D.B. Root & Company LLC’s holdings, making the stock its 27th biggest position. D.B. Root & Company LLC’s holdings in Meta Platforms were worth $2,132,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Carderock Capital Management Inc. bought a new position in shares of Meta Platforms during the 3rd quarter valued at approximately $31,000. Benjamin Edwards Inc. bought a new position in shares of Meta Platforms during the 3rd quarter valued at approximately $33,000. Capital Directions Investment Advisors LLC boosted its position in shares of Meta Platforms by 58.0% during the 3rd quarter. Capital Directions Investment Advisors LLC now owns 139 shares of the social networking company’s stock valued at $47,000 after acquiring an additional 51 shares during the last quarter. Lountzis Asset Management LLC boosted its position in shares of Meta Platforms by 57.0% during the 3rd quarter. Lountzis Asset Management LLC now owns 157 shares of the social networking company’s stock valued at $53,000 after acquiring an additional 57 shares during the last quarter. Finally, Cypress Capital Management LLC WY boosted its position in shares of Meta Platforms by 19.2% during the 3rd quarter. Cypress Capital Management LLC WY now owns 186 shares of the social networking company’s stock valued at $63,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.
FB has been the subject of a number of research reports. Atlantic Securities lowered their target price on Meta Platforms from $420.00 to $360.00 and set an “overweight” rating for the company in a research report on Thursday, February 3rd. KeyCorp lowered their price target on Meta Platforms from $420.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, February 3rd. Jefferies Financial Group lowered their price target on Meta Platforms from $420.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, February 3rd. Susquehanna Bancshares lowered their price target on Meta Platforms from $425.00 to $375.00 and set a “positive” rating for the company in a research report on Thursday, February 3rd. Finally, OTR Global upgraded Meta Platforms to a “positive” rating in a research report on Wednesday, January 19th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $336.96.
In other news, CAO Susan J.S. Taylor sold 2,272 shares of the business’s stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $214.00, for a total value of $486,208.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 250 shares of the business’s stock in a transaction that occurred on Tuesday, January 11th. The shares were sold at an average price of $328.72, for a total value of $82,180.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,823 shares of company stock valued at $1,513,325. 14.01% of the stock is owned by company insiders.
Shares of Meta Platforms stock traded down $0.35 on Thursday, reaching $222.95. 1,046,383 shares of the stock were exchanged, compared to its average volume of 30,931,862. Meta Platforms Inc. has a twelve month low of $185.82 and a twelve month high of $384.33. The firm has a market capitalization of $606.86 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.38 and a beta of 1.39. The business has a 50 day moving average price of $221.18 and a two-hundred day moving average price of $293.17.
Meta Platforms (NASDAQ:FB – Get Rating) last announced its quarterly earnings results on Wednesday, February 2nd. The social networking company reported $3.67 earnings per share for the quarter, missing the consensus estimate of $3.78 by ($0.11). The company had revenue of $33.67 billion for the quarter, compared to analysts’ expectations of $33.44 billion. Meta Platforms had a net margin of 33.38% and a return on equity of 29.71%. The firm’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.88 earnings per share. On average, research analysts predict that Meta Platforms Inc. will post 12.56 earnings per share for the current fiscal year.
About Meta Platforms (Get Rating)
Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.
Further Reading
Want More Great Investing Ideas?
Receive News & Ratings for Meta Platforms Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Meta Platforms and related companies with MarketBeat.com’s FREE daily email newsletter.
