Paragon Private Wealth Management LLC Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

Paragon Private Wealth Management LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,472 shares of the social networking company’s stock after acquiring an additional 291 shares during the quarter. Meta Platforms comprises about 1.1% of Paragon Private Wealth Management LLC’s holdings, making the stock its 29th largest position. Paragon Private Wealth Management LLC’s holdings in Meta Platforms were worth $1,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of META. Norges Bank purchased a new position in shares of Meta Platforms in the 4th quarter worth about $11,285,855,000. FMR LLC raised its holdings in Meta Platforms by 4.0% in the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after buying an additional 5,001,647 shares during the period. International Assets Investment Management LLC lifted its position in Meta Platforms by 11,154.4% during the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after buying an additional 4,908,251 shares in the last quarter. Concentrum Wealth Management grew its stake in Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Meta Platforms by 55.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,632,631 shares of the social networking company’s stock worth $2,591,602,000 after acquiring an additional 3,093,715 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Mizuho boosted their price target on Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Evercore ISI raised their price target on shares of Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Oppenheimer dropped their price target on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Guggenheim decreased their price objective on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Loop Capital dropped their target price on Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $509.80.

Check Out Our Latest Research Report on Meta Platforms

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the sale, the insider now directly owns 38,398 shares in the company, valued at $20,043,756. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Nicholas Clegg sold 1,135 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $535,549.75. Following the transaction, the insider now directly owns 8,753 shares of the company’s stock, valued at $4,130,103.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the sale, the insider now owns 38,398 shares of the company’s stock, valued at $20,043,756. The disclosure for this sale can be found here. Insiders have sold a total of 1,015,222 shares of company stock worth $499,279,869 over the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

META stock traded down $1.32 during midday trading on Friday, reaching $471.91. 10,807,289 shares of the company were exchanged, compared to its average volume of 20,906,852. The business has a 50-day moving average price of $486.26 and a two-hundred day moving average price of $421.38. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.22 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $241.19 and a one year high of $531.49.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 20.18 EPS for the current year.

About Meta Platforms

(Free Report)

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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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