Everpar Advisors LLC Purchases New Position in Meta Platforms, Inc. (NASDAQ:META)

Everpar Advisors LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,198 shares of the social networking company’s stock, valued at approximately $2,194,000. Meta Platforms makes up 1.0% of Everpar Advisors LLC’s holdings, making the stock its 8th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cherry Tree Wealth Management LLC lifted its stake in shares of Meta Platforms by 322.2% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 190 shares of the social networking company’s stock valued at $67,000 after acquiring an additional 145 shares during the last quarter. Barlow Wealth Partners Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter valued at about $350,000. Patrick M Sweeney & Associates Inc. bought a new stake in shares of Meta Platforms during the fourth quarter worth about $478,000. Sovereign Financial Group Inc. increased its stake in shares of Meta Platforms by 21.4% in the fourth quarter. Sovereign Financial Group Inc. now owns 2,817 shares of the social networking company’s stock valued at $997,000 after buying an additional 497 shares during the period. Finally, Blue Barn Wealth LLC bought a new position in Meta Platforms in the 4th quarter valued at approximately $394,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.9 %

Shares of NASDAQ META traded up $4.36 during trading on Wednesday, hitting $472.60. The stock had a trading volume of 11,663,995 shares, compared to its average volume of 18,224,012. The firm has a fifty day moving average of $490.03 and a two-hundred day moving average of $411.78. The company has a market capitalization of $1.20 trillion, a PE ratio of 27.15, a PEG ratio of 1.18 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a 12 month low of $230.72 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (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, equities research analysts forecast that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 8,036 shares of Meta Platforms stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Javier Olivan sold 490 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $445.93, for a total transaction of $218,505.70. Following the completion of the transaction, the chief operating officer now directly owns 6,109 shares of the company’s stock, valued at approximately $2,724,186.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 8,036 shares of the firm’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 owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,223,416 shares of company stock valued at $597,392,856. 13.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

META has been the subject of several analyst reports. Oppenheimer dropped their price target on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Jefferies Financial Group cut their target price on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Wedbush decreased their price target on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Robert W. Baird lowered their price objective on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, Wolfe Research reduced their target price on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Two investment 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $509.80.

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.