National Bank of Canada FI Has $111.39 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

National Bank of Canada FI lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.5% during the 4th quarter, HoldingsChannel reports. The fund owned 322,371 shares of the social networking company’s stock after buying an additional 1,542 shares during the period. National Bank of Canada FI’s holdings in Meta Platforms were worth $111,391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Addison Advisors LLC lifted its position in shares of Meta Platforms by 3.9% during the fourth quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock valued at $237,000 after purchasing an additional 25 shares in the last quarter. WoodTrust Financial Corp grew its holdings in shares of Meta Platforms by 1.8% in the fourth quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock valued at $548,000 after acquiring an additional 27 shares in the last quarter. Tennessee Valley Asset Management Partners increased its position in shares of Meta Platforms by 0.6% during the fourth quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock valued at $1,616,000 after acquiring an additional 27 shares during the last quarter. Peterson Wealth Advisors LLC boosted its position in Meta Platforms by 1.9% in the fourth quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock worth $520,000 after purchasing an additional 28 shares during the last quarter. Finally, Edge Wealth Management LLC increased its stake in shares of Meta Platforms by 4.0% in the fourth quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock worth $258,000 after purchasing an additional 28 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on META. TD Cowen reduced their price objective on shares of Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Oppenheimer decreased their price target on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company decreased their target price on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Stifel Nicolaus upped their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Rosenblatt Securities boosted their target price on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $509.80.

Meta Platforms Stock 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 cap of $1.15 trillion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 1.18 and a beta of 1.21. The company’s 50 day simple moving average is $490.72 and its two-hundred day simple moving average is $409.58. Meta Platforms, Inc. has a 12 month low of $229.85 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS 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 business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 34,398 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $457.52, for a total transaction of $15,737,772.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 34,398 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $457.52, for a total value of $15,737,772.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the transaction, the insider now directly owns 38,398 shares in the company, valued at $20,043,756. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,257,876 shares of company stock valued at $613,168,252. Insiders own 13.71% of the company’s stock.

Meta Platforms Profile

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.