Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Cascade Investment Advisors Inc.

Cascade Investment Advisors Inc. cut its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 13.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 4,740 shares of the social networking company’s stock after selling 707 shares during the period. Meta Platforms comprises about 1.5% of Cascade Investment Advisors Inc.’s holdings, making the stock its 11th biggest holding. Cascade Investment Advisors Inc.’s holdings in Meta Platforms were worth $2,302,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Donoghue Forlines LLC grew its holdings in shares of Meta Platforms by 94.4% during the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock worth $2,955,000 after buying an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after buying an additional 32,423 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. grew its holdings in shares of Meta Platforms by 400.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company’s stock worth $885,000 after buying an additional 2,000 shares in the last quarter. Bank of Stockton grew its holdings in shares of Meta Platforms by 9.2% during the fourth quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock worth $1,819,000 after buying an additional 400 shares in the last quarter. Finally, Signify Wealth purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $228,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 77,412 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $486.18, for a total transaction of $37,636,166.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $480.00, for a total transaction of $280,800.00. Following the transaction, the insider now directly owns 41,908 shares in the company, valued at $20,115,840. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 77,412 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $486.18, for a total transaction of $37,636,166.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 918,449 shares of company stock valued at $454,175,035. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Down 0.4 %

META stock traded down $2.00 during midday trading on Thursday, reaching $465.78. 11,731,512 shares of the company were exchanged, compared to its average volume of 17,531,096. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 1-year low of $244.95 and a 1-year high of $531.49. The stock’s 50-day simple moving average is $484.18 and its 200 day simple moving average is $424.15. The company has a market cap of $1.18 trillion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 1.20 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on META. Bank of America upped their price objective on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Oppenheimer dropped their price objective on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. Citigroup dropped their price objective on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Loop Capital dropped their price objective on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $509.80.

Read Our Latest Research Report on Meta Platforms

About Meta Platforms

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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