Moss Adams Wealth Advisors LLC Trims Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Moss Adams Wealth Advisors LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,705 shares of the social networking company’s stock after selling 143 shares during the quarter. Meta Platforms comprises 0.4% of Moss Adams Wealth Advisors LLC’s investment portfolio, making the stock its 21st biggest position. Moss Adams Wealth Advisors LLC’s holdings in Meta Platforms were worth $2,019,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in META. Cherry Tree Wealth Management LLC raised its holdings in Meta Platforms by 322.2% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 190 shares of the social networking company’s stock valued at $67,000 after buying an additional 145 shares during the period. Barlow Wealth Partners Inc. acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $350,000. Patrick M Sweeney & Associates Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $478,000. Sovereign Financial Group Inc. increased its holdings in Meta Platforms by 21.4% in the 4th quarter. Sovereign Financial Group Inc. now owns 2,817 shares of the social networking company’s stock valued at $997,000 after purchasing an additional 497 shares during the last quarter. Finally, Blue Barn Wealth LLC purchased a new stake in Meta Platforms in the fourth quarter valued at approximately $394,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 490 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the transaction, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Nicholas Clegg sold 2,025 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $958,392.00. Following the sale, the insider now owns 10,053 shares in the company, valued at approximately $4,757,883.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the transaction, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at $39,015,070.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,223,416 shares of company stock valued at $597,392,856. 13.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Robert W. Baird lowered their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Bank of America increased their price target on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Raymond James dropped their price objective on shares of Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating for the company in a report on Thursday, April 25th. Morgan Stanley increased their target price on shares of Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, KeyCorp dropped their price target on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $509.80.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded up $4.36 during trading hours on Wednesday, hitting $472.60. 11,663,995 shares of the company were exchanged, compared to its average volume of 18,224,012. The business has a 50-day moving average of $490.03 and a 200-day moving average of $411.78. Meta Platforms, Inc. has a 1 year low of $230.72 and a 1 year high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 1.18 and a beta of 1.21.

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

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.