Great Diamond Partners LLC Sells 331 Shares of Meta Platforms, Inc. (NASDAQ:META)

Great Diamond Partners LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.5% in the second quarter, Holdings Channel.com reports. The fund owned 4,739 shares of the social networking company’s stock after selling 331 shares during the quarter. Great Diamond Partners LLC’s holdings in Meta Platforms were worth $2,389,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vantage Financial Partners LLC raised its stake in shares of Meta Platforms by 3.2% during the 4th quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after acquiring an additional 41 shares in the last quarter. One Day In July LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth about $205,000. ICW Investment Advisors LLC lifted its holdings in shares of Meta Platforms by 14.6% during the fourth quarter. ICW Investment Advisors LLC now owns 976 shares of the social networking company’s stock worth $346,000 after purchasing an additional 124 shares during the period. DiNuzzo Private Wealth Inc. purchased a new stake in Meta Platforms in the fourth quarter valued at approximately $45,000. Finally, Robertson Stephens Wealth Management LLC raised its position in Meta Platforms by 21.5% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 4,739 shares of the social networking company’s stock worth $1,677,000 after buying an additional 839 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META traded up $3.09 during midday trading on Friday, hitting $521.31. The company had a trading volume of 9,153,468 shares, compared to its average volume of 15,991,408. The business’s 50-day simple moving average is $504.32 and its 200-day simple moving average is $492.38. The stock has a market cap of $1.32 trillion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23.

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

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares of the company’s stock, valued at $6,315,852.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms 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 of the company’s stock, valued at $6,315,852.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Susan J. Li sold 8,950 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The disclosure for this sale can be found here. Insiders sold 388,078 shares of company stock worth $200,792,168 in the last 90 days. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a report on Thursday, August 1st. BNP Paribas began coverage on Meta Platforms in a research note on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price objective for the company. Robert W. Baird boosted their price objective on Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. TD Cowen lifted their price target on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Sanford C. Bernstein upped their price objective on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $574.41.

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.