Yelin Lapidot Holdings Management Ltd. Trims Stake in Meta Platforms, Inc. (NASDAQ:META)

Yelin Lapidot Holdings Management Ltd. decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,213 shares of the social networking company’s stock after selling 5,075 shares during the period. Meta Platforms makes up about 4.6% of Yelin Lapidot Holdings Management Ltd.’s investment portfolio, making the stock its 6th largest position. Yelin Lapidot Holdings Management Ltd.’s holdings in Meta Platforms were worth $25,823,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Delos Wealth Advisors LLC increased 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 valued at $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its stake in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. Richardson Financial Services Inc. lifted its stake in Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares during the period. Finally, Quest Partners LLC purchased a new stake in Meta Platforms in the fourth quarter worth about $32,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

META traded down $1.09 on Friday, hitting $517.13. 4,305,990 shares of the company’s stock were exchanged, compared to its average volume of 15,962,566. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. 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 firm has a 50-day moving average price of $504.32 and a 200-day moving average price of $492.38. The stock has a market cap of $1.31 trillion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its 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 for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the previous year, the company posted $3.23 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. JMP Securities reaffirmed a “market outperform” rating and issued a $525.00 price objective on shares of Meta Platforms in a research note on Tuesday, July 30th. Tigress Financial increased their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. TD Securities increased their price target on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company increased their price target on shares of Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two 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 stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $574.41.

Insider Activity

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $477.00, for a total transaction of $431,685.00. Following the transaction, the insider now owns 41,465 shares of the company’s stock, valued at approximately $19,778,805. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $477.00, for a total transaction of $431,685.00. Following the transaction, the insider now owns 41,465 shares of the company’s stock, valued at approximately $19,778,805. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the sale, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 388,078 shares of company stock valued at $200,792,168. 13.71% of the stock is currently owned by insiders.

Meta Platforms Company 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.