Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD

Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 27.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,346 shares of the social networking company’s stock after purchasing an additional 12,320 shares during the period. Meta Platforms makes up 2.6% of Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD’s holdings, making the stock its 6th largest position. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD’s holdings in Meta Platforms were worth $28,907,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of META. Vantage Financial Partners LLC boosted its position in Meta Platforms by 3.2% in the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock valued at $468,000 after buying an additional 41 shares in the last quarter. One Day In July LLC bought a new stake in Meta Platforms in the fourth quarter valued at $205,000. ICW Investment Advisors LLC grew its holdings in shares of Meta Platforms by 14.6% during the fourth quarter. ICW Investment Advisors LLC now owns 976 shares of the social networking company’s stock valued at $346,000 after buying an additional 124 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $45,000. Finally, Robertson Stephens Wealth Management LLC grew its holdings in shares of Meta Platforms by 21.5% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 4,739 shares of the social networking company’s stock valued at $1,677,000 after buying an additional 839 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on META. Rosenblatt Securities boosted their price target on shares of Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Raymond James upped their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday, July 1st. Jefferies Financial Group upped their target price on shares of Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Tigress Financial boosted their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $574.41.

Meta Platforms Stock Up 0.3 %

NASDAQ:META traded up $1.48 on Friday, hitting $519.70. The stock had a trading volume of 1,793,512 shares, compared to its average volume of 15,947,611. The firm’s fifty day simple moving average is $504.32 and its two-hundred day simple moving average is $492.38. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23. The stock has a market cap of $1.32 trillion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.23 EPS. Analysts predict that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on 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 in the company, valued at $19,778,805. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $477.00, for a total value of $431,685.00. Following the transaction, the insider now directly owns 41,465 shares in the company, valued at $19,778,805. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. The disclosure for this sale can be found here. Insiders have sold 388,078 shares of company stock worth $200,792,168 over 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.