Kraft Davis & Associates LLC Boosts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Kraft Davis & Associates LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,579 shares of the social networking company’s stock after buying an additional 167 shares during the quarter. Kraft Davis & Associates LLC’s holdings in Meta Platforms were worth $736,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Quest Partners LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $32,000. Clear Investment Research LLC raised its stake in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Delos Wealth Advisors LLC boosted its position in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms in the 2nd quarter valued at $38,000. Finally, Ruedi Wealth Management Inc. grew its stake in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.2 %

Meta Platforms stock traded down $1.09 during mid-day trading on Friday, hitting $517.13. The stock had a trading volume of 4,305,990 shares, compared to its average volume of 15,962,566. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $544.23. The stock has a 50-day simple moving average of $504.32 and a two-hundred day simple moving average of $492.38. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.31 trillion, a PE ratio of 29.85, a P/E/G ratio of 1.27 and a beta of 1.21.

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, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.23 EPS. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on META. Evercore ISI increased their price target on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. BNP Paribas began coverage on shares of Meta Platforms in a report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 price target for the company. Barclays lifted their price target on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the sale, the chief executive officer now directly owns 124,387 shares in the company, valued at approximately $62,254,449.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan J. Li sold 8,950 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 $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, 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 quarter. 13.71% of the stock is currently owned by corporate insiders.

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.