Pointe Capital Management LLC Sells 454 Shares of Meta Platforms, Inc. (NASDAQ:META)

Pointe Capital Management LLC lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 11.5% in the 4th quarter, Holdings Channel reports. The firm owned 3,485 shares of the social networking company’s stock after selling 454 shares during the period. Meta Platforms accounts for approximately 0.9% of Pointe Capital Management LLC’s investment portfolio, making the stock its 25th biggest holding. Pointe Capital Management LLC’s holdings in Meta Platforms were worth $1,234,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Stone House Investment Management LLC lifted its holdings in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after acquiring an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares in the last quarter. PayPay Securities Corp lifted its holdings in shares of Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 43 shares in the last quarter. Cranbrook Wealth Management LLC grew its position in shares of Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares during the period. Finally, Gilfoyle & Co LLC bought a new stake in Meta Platforms during the 4th quarter worth approximately $39,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 552 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total transaction of $256,128.00. Following the sale, the insider now owns 34,168 shares of the company’s stock, valued at approximately $15,853,952. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Jennifer Newstead sold 552 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $464.00, for a total value of $256,128.00. Following the completion of the transaction, the insider now owns 34,168 shares in the company, valued at approximately $15,853,952. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the sale, the chief technology officer now directly owns 18,432 shares in the company, valued at $8,723,496.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,257,876 shares of company stock worth $613,168,252. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on META shares. UBS Group reduced their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Evercore ISI upped their price objective on Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Guggenheim dropped their target price 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. Canaccord Genuity Group reduced their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Raymond James lowered their price objective on shares of Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $509.80.

Meta Platforms Price Performance

NASDAQ:META traded up $10.28 during trading hours on Friday, hitting $451.96. The company’s stock had a trading volume of 16,489,057 shares, compared to its average volume of 20,698,000. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The company has a market capitalization of $1.15 trillion, a P/E ratio of 25.96, a PEG ratio of 1.15 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $229.85 and a twelve month high of $531.49. The stock has a fifty day simple moving average of $490.72 and a 200-day simple moving average of $408.34.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, analysts anticipate that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.

About Meta Platforms

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.