Gavea Investimentos Ltda trimmed its holdings in Meta Platforms, Inc. (NASDAQ:FB – Get Rating) by 41.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 21,712 shares of the social networking company’s stock after selling 15,355 shares during the quarter. Meta Platforms accounts for about 6.6% of Gavea Investimentos Ltda’s holdings, making the stock its 5th biggest holding. Gavea Investimentos Ltda’s holdings in Meta Platforms were worth $7,303,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Barnett & Company Inc. increased its stake in shares of Meta Platforms by 105.0% in the fourth quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock worth $28,000 after buying an additional 42 shares during the period. Evolution Advisers Inc. purchased a new position in shares of Meta Platforms in the fourth quarter worth $48,000. Horan Securities Inc. purchased a new position in shares of Meta Platforms in the fourth quarter worth $53,000. Maryland Capital Advisors Inc. purchased a new position in shares of Meta Platforms in the fourth quarter worth $58,000. Finally, Leverty Financial Group LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth $60,000. Hedge funds and other institutional investors own 65.49% of the company’s stock.
In other news, CFO David M. Wehner sold 1,095 shares of the firm’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $217.70, for a total transaction of $238,381.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 311 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $199.60, for a total value of $62,075.60. Following the transaction, the insider now owns 12,187 shares in the company, valued at approximately $2,432,525.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,768 shares of company stock valued at $1,858,518. Corporate insiders own 13.59% of the company’s stock.
Meta Platforms (NASDAQ:FB – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.06. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. During the same period in the prior year, the firm earned $3.30 earnings per share. On average, equities research analysts expect that Meta Platforms, Inc. will post 11.63 earnings per share for the current fiscal year.
A number of brokerages have issued reports on FB. Jefferies Financial Group reduced their price objective on shares of Meta Platforms from $420.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, February 3rd. Barclays reduced their target price on shares of Meta Platforms from $420.00 to $350.00 and set an “overweight” rating on the stock in a research report on Thursday, February 3rd. Loop Capital downgraded shares of Meta Platforms from a “buy” rating to a “hold” rating and reduced their target price for the stock from $380.00 to $230.00 in a research report on Thursday, February 3rd. Cowen reduced their target price on shares of Meta Platforms from $415.00 to $330.00 and set an “outperform” rating on the stock in a research report on Thursday, February 3rd. Finally, UBS Group upped their target price on shares of Meta Platforms from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, April 5th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $316.80.
About Meta Platforms (Get Rating)
Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
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