Fundamentum LLC Sells 91 Shares of Meta Platforms, Inc. (NASDAQ:META)

by · The Markets Daily

Fundamentum LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 936 shares of the social networking company’s stock after selling 91 shares during the period. Fundamentum LLC’s holdings in Meta Platforms were worth $281,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. raised its holdings in Meta Platforms by 1.6% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,060 shares of the social networking company’s stock worth $591,000 after purchasing an additional 33 shares in the last quarter. First Affirmative Financial Network raised its holdings in Meta Platforms by 1.4% during the third quarter. First Affirmative Financial Network now owns 2,443 shares of the social networking company’s stock worth $733,000 after purchasing an additional 33 shares in the last quarter. Little House Capital LLC raised its holdings in Meta Platforms by 0.5% during the second quarter. Little House Capital LLC now owns 6,443 shares of the social networking company’s stock worth $1,849,000 after purchasing an additional 34 shares in the last quarter. McLean Asset Management Corp raised its holdings in Meta Platforms by 3.2% during the second quarter. McLean Asset Management Corp now owns 1,127 shares of the social networking company’s stock worth $323,000 after purchasing an additional 35 shares in the last quarter. Finally, Staley Capital Advisers Inc. raised its holdings in Meta Platforms by 1.8% during the second quarter. Staley Capital Advisers Inc. now owns 1,939 shares of the social networking company’s stock worth $556,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 62.87% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of several analyst reports. Oppenheimer reissued an “outperform” rating and set a $385.00 price target on shares of Meta Platforms in a report on Thursday, September 28th. JMP Securities restated a “market outperform” rating and set a $380.00 target price on shares of Meta Platforms in a research report on Thursday, September 28th. Tigress Financial upped their target price on shares of Meta Platforms from $380.00 to $435.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, November 22nd. KeyCorp upped their target price on shares of Meta Platforms from $356.00 to $380.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Finally, Citigroup restated a “buy” rating and set a $385.00 target price on shares of Meta Platforms in a research report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $354.37.

Check Out Our Latest Stock Analysis on META

Meta Platforms Stock Performance

Shares of META stock opened at $347.12 on Friday. The company’s fifty day simple moving average is $333.29 and its 200-day simple moving average is $312.55. Meta Platforms, Inc. has a 52 week low of $124.54 and a 52 week high of $361.90. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.13. The company has a market cap of $892.05 billion, a PE ratio of 30.64, a P/E/G ratio of 0.92 and a beta of 1.22.

Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings results on Wednesday, October 25th. The social networking company reported $4.39 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.77. The business had revenue of $34.15 billion during the quarter, compared to analyst estimates of $33.58 billion. Meta Platforms had a net margin of 23.42% and a return on equity of 26.40%. The business’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the business earned $1.64 EPS. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 14.32 EPS for the current year.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 10,642 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $336.31, for a total transaction of $3,579,011.02. Following the completion of the sale, the chief financial officer now directly owns 89,509 shares of the company’s stock, valued at approximately $30,102,771.79. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 670 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $318.19, for a total transaction of $213,187.30. Following the completion of the transaction, the insider now directly owns 34,330 shares of the company’s stock, valued at approximately $10,923,462.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Susan J. Li sold 10,642 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $336.31, for a total transaction of $3,579,011.02. Following the transaction, the chief financial officer now directly owns 89,509 shares of the company’s stock, valued at $30,102,771.79. The disclosure for this sale can be found here. In the last three months, insiders sold 688,944 shares of company stock valued at $230,574,460. Corporate insiders own 13.75% of the company’s stock.

Meta Platforms Profile

(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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