Samlyn Capital LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 0.1% during the first quarter, Holdings Channel reports. The fund owned 413,314 shares of the social networking company’s stock after acquiring an additional 573 shares during the period. Meta Platforms comprises 3.5% of Samlyn Capital LLC’s holdings, making the stock its 5th biggest holding. Samlyn Capital LLC’s holdings in Meta Platforms were worth $238,218,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Inlight Wealth Management LLC bought a new position in shares of Meta Platforms during the first quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Meta Platforms during the first quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Meta Platforms during the first quarter valued at about $33,000. JCIC Asset Management Inc. grew its stake in shares of Meta Platforms by 102.6% during the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company’s stock valued at $46,000 after buying an additional 40 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. bought a new position in shares of Meta Platforms during the fourth quarter valued at about $47,000. Institutional investors own 79.91% of the company’s stock.
Meta Platforms Stock Up 0.5%
NASDAQ META opened at $752.45 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market capitalization of $1.89 trillion, a PE ratio of 27.24, a PEG ratio of 1.55 and a beta of 1.24. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The business’s 50-day moving average is $738.39 and its 200 day moving average is $659.37.
Insiders Place Their Bets
In other Meta Platforms news, CFO Susan J. Li sold 18,332 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $764.71, for a total value of $14,018,663.72. Following the completion of the sale, the chief financial officer directly owned 84,141 shares in the company, valued at $64,343,464.11. This trade represents a 17.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert M. Kimmitt sold 465 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $784.32, for a total transaction of $364,708.80. Following the completion of the sale, the director owned 8,877 shares of the company’s stock, valued at $6,962,408.64. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 312,341 shares of company stock valued at $234,443,690 over the last ninety days. 13.61% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on META shares. TD Cowen raised their price objective on Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. DA Davidson raised their price objective on Meta Platforms from $650.00 to $825.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Barclays raised their price objective on Meta Platforms from $640.00 to $810.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Monness Crespi & Hardt raised their price objective on Meta Platforms from $780.00 to $860.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on Meta Platforms from $795.00 to $875.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $822.41.
Read Our Latest Analysis on META
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.
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