Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Union Savings Bank

Union Savings Bank increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 25.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,145 shares of the social networking company’s stock after purchasing an additional 441 shares during the quarter. Union Savings Bank’s holdings in Meta Platforms were worth $1,082,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. S.A. Mason LLC grew its holdings in shares of Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after purchasing an additional 20 shares during the period. Horizon Bancorp Inc. IN lifted its position in Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after buying an additional 21 shares in the last quarter. Northern Capital Management Inc. grew its stake in Meta Platforms by 3.4% during the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after buying an additional 21 shares during the period. Buckingham Capital Management Inc. increased its position in shares of Meta Platforms by 5.1% in the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock worth $218,000 after acquiring an additional 21 shares in the last quarter. Finally, LongView Wealth Management raised its stake in shares of Meta Platforms by 1.3% in the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the 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 completion of the transaction, the chief operating officer now directly owns 14,424 shares of the company’s stock, valued at approximately $7,744,534.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 4,909 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $519.17, for a total transaction of $2,548,605.53. Following the transaction, the chief executive officer now owns 519,000 shares of the company’s stock, valued at approximately $269,449,230. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $221,747.96. Following the completion of the sale, the chief operating officer now directly owns 14,424 shares of the company’s stock, valued at $7,744,534.08. The disclosure for this sale can be found here. Insiders sold 390,072 shares of company stock valued at $201,913,948 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Wednesday. Raymond James increased their target price on Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research note on Monday, July 1st. Wells Fargo & Company boosted their price target on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Citigroup increased their price objective on shares of Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their target price on shares of Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $574.41.

Meta Platforms Trading Up 0.2 %

NASDAQ:META opened at $512.74 on Thursday. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The business has a 50 day simple moving average of $505.31 and a 200 day simple moving average of $493.77. The firm has a market capitalization of $1.30 trillion, a P/E ratio of 29.45, a P/E/G ratio of 1.29 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $38.26 billion. During the same quarter in the previous year, the company posted $3.23 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities research analysts predict that Meta Platforms, Inc. will post 21.3 EPS for the current 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.