Stokes Family Office LLC Sells 2,865 Shares of Meta Platforms, Inc. (NASDAQ:META)

Stokes Family Office LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 35.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,218 shares of the social networking company’s stock after selling 2,865 shares during the quarter. Stokes Family Office LLC’s holdings in Meta Platforms were worth $1,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of META. Community Capital Management LLC bought a new stake in Meta Platforms in the 3rd quarter worth approximately $1,201,000. Bank Hapoalim BM increased its stake in Meta Platforms by 167.7% in the 3rd quarter. Bank Hapoalim BM now owns 4,791 shares of the social networking company’s stock worth $1,438,000 after purchasing an additional 3,001 shares during the period. Financial Management Network Inc. increased its stake in Meta Platforms by 5.9% in the 3rd quarter. Financial Management Network Inc. now owns 1,656 shares of the social networking company’s stock worth $506,000 after purchasing an additional 92 shares during the period. Mount Vernon Associates Inc. MD increased its stake in Meta Platforms by 0.4% in the 3rd quarter. Mount Vernon Associates Inc. MD now owns 14,239 shares of the social networking company’s stock worth $4,275,000 after purchasing an additional 50 shares during the period. Finally, Raymond James & Associates increased its stake in Meta Platforms by 10.1% in the 3rd quarter. Raymond James & Associates now owns 2,166,843 shares of the social networking company’s stock worth $650,508,000 after purchasing an additional 198,463 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of a number of analyst reports. Guggenheim decreased their price target on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. UBS Group decreased their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Barclays decreased their price target on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. JMP Securities reaffirmed a “market outperform” rating and issued a $550.00 price target on shares of Meta Platforms in a research note on Monday, April 22nd. Finally, BMO Capital Markets boosted their target price on Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $509.80.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 34,398 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $457.52, for a total value of $15,737,772.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jennifer Newstead sold 552 shares of Meta Platforms stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $464.00, for a total transaction of $256,128.00. Following the transaction, the insider now owns 34,168 shares in the company, valued at approximately $15,853,952. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 34,398 shares of Meta Platforms stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $457.52, for a total transaction of $15,737,772.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,257,876 shares of company stock worth $613,168,252. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 2.3 %

Shares of NASDAQ:META traded up $10.28 during trading on Friday, reaching $451.96. 16,474,126 shares of the stock traded hands, compared to its average volume of 18,392,596. The stock has a 50-day moving average of $491.36 and a two-hundred day moving average of $407.43. Meta Platforms, Inc. has a 52-week low of $229.85 and a 52-week high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market cap of $1.15 trillion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 1.14 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal year.

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.