Moss Adams Wealth Advisors LLC Decreases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Moss Adams Wealth Advisors LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,705 shares of the social networking company’s stock after selling 143 shares during the period. Meta Platforms makes up about 0.4% of Moss Adams Wealth Advisors LLC’s holdings, making the stock its 21st biggest holding. Moss Adams Wealth Advisors LLC’s holdings in Meta Platforms were worth $2,019,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Stone House Investment Management LLC raised its holdings in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after buying an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in shares of Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the period. PayPay Securities Corp grew its stake in shares of Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after purchasing an additional 43 shares during the last quarter. Cranbrook Wealth Management LLC increased its holdings in Meta Platforms by 80.4% during 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 purchased a new position in Meta Platforms during the 4th quarter valued at about $39,000. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Nicholas Clegg sold 2,025 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 $958,392.00. Following the completion of the transaction, the insider now owns 10,053 shares in the company, valued at approximately $4,757,883.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 97,093 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nicholas Clegg sold 2,025 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $958,392.00. Following the completion of the sale, the insider now owns 10,053 shares of the company’s stock, valued at approximately $4,757,883.84. The disclosure for this sale can be found here. Insiders sold 1,223,416 shares of company stock valued at $597,392,856 in the last 90 days. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on META. Truist Financial cut their price objective on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Raymond James decreased their price objective on shares of Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating for the company in a report on Thursday, April 25th. Bank of America raised their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Finally, BMO Capital Markets raised their price objective on shares of Meta Platforms from $397.00 to $450.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $509.80.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded up $4.36 during midday trading on Wednesday, hitting $472.60. The company had a trading volume of 11,663,995 shares, compared to its average volume of 18,224,012. The company has a market cap of $1.20 trillion, a price-to-earnings 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. The company has a fifty day moving average of $490.03 and a two-hundred day moving average of $411.78. Meta Platforms, Inc. has a 12-month low of $230.72 and a 12-month high of $531.49.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. On average, equities research analysts expect 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.