Signaturefd LLC Has $27.97 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Signaturefd LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 4.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 55,469 shares of the social networking company’s stock after acquiring an additional 2,549 shares during the quarter. Meta Platforms accounts for about 0.6% of Signaturefd LLC’s holdings, making the stock its 27th biggest position. Signaturefd LLC’s holdings in Meta Platforms were worth $27,968,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of META. Norges Bank bought a new stake in shares of Meta Platforms during the fourth quarter worth about $11,285,855,000. Capital Research Global Investors lifted its holdings in shares of Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after purchasing an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management boosted its position in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after buying an additional 3,888,308 shares during the last quarter. Vanguard Group Inc. grew its holdings in Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after buying an additional 3,104,550 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after buying an additional 2,748,620 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of several analyst reports. Susquehanna increased their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Roth Mkm increased their price target on Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. TD Securities upped their price objective on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Evercore ISI boosted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $525.00 price objective on shares of Meta Platforms in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two 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 $574.41.

Insider Activity

In related news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total value of $221,747.96. Following the sale, the chief operating officer now owns 14,424 shares in the company, valued at approximately $7,744,534.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total value of $221,747.96. Following the sale, the chief operating officer now directly owns 14,424 shares of the company’s stock, valued at $7,744,534.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 388,078 shares of company stock worth $200,792,168. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $521.31 on Friday. The business’s fifty day moving average is $504.85 and its 200 day moving average is $492.74. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.32 trillion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period last year, the business earned $3.23 EPS. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. Research analysts expect that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

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.