BayBridge Capital Group LLC Invests $1.11 Million in Meta Platforms, Inc. (NASDAQ:META)

BayBridge Capital Group LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,973 shares of the social networking company’s stock, valued at approximately $1,113,000. Meta Platforms accounts for approximately 1.0% of BayBridge Capital Group LLC’s holdings, making the stock its 25th biggest holding.

A number of other hedge funds have also bought and sold shares of META. TCW Group Inc. lifted its position in shares of Meta Platforms by 18.5% during the 4th quarter. TCW Group Inc. now owns 241,764 shares of the social networking company’s stock valued at $85,728,000 after acquiring an additional 37,690 shares during the period. SageView Advisory Group LLC raised its holdings in shares of Meta Platforms by 40.1% during the fourth quarter. SageView Advisory Group LLC now owns 19,786 shares of the social networking company’s stock valued at $7,003,000 after purchasing an additional 5,668 shares during the period. Commerce Bank boosted its position in shares of Meta Platforms by 1.0% during the 4th quarter. Commerce Bank now owns 163,034 shares of the social networking company’s stock worth $57,708,000 after purchasing an additional 1,684 shares in the last quarter. US Bancorp DE grew its stake in shares of Meta Platforms by 1.4% in the 4th quarter. US Bancorp DE now owns 744,636 shares of the social networking company’s stock valued at $263,571,000 after buying an additional 10,587 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in Meta Platforms by 0.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 256,620 shares of the social networking company’s stock valued at $90,833,000 after buying an additional 1,066 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META traded down $2.00 during midday trading on Thursday, reaching $465.78. The stock had a trading volume of 11,698,188 shares, compared to its average volume of 17,530,836. The company has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.20 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $244.95 and a 12-month high of $531.49. The company’s 50-day moving average is $484.71 and its 200 day moving average is $423.86.

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. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, equities analysts predict that Meta Platforms, Inc. will post 20.18 EPS for the current fiscal year.

Analysts Set New Price Targets

META has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price objective on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Morgan Stanley upped their price objective 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. KeyCorp decreased their target price on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Oppenheimer lowered their target price on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, Stifel Nicolaus lifted their price target on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $509.80.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the transaction, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the sale, the insider now owns 36,643 shares in the company, valued at approximately $15,794,965.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $517.75, for a total value of $253,697.50. Following the completion of the sale, the chief operating officer now owns 7,579 shares in the company, valued at $3,924,027.25. The disclosure for this sale can be found here. Insiders have sold a total of 917,544 shares of company stock worth $453,751,884 in the last 90 days. 13.71% of the stock is owned by company insiders.

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.