SageView Advisory Group LLC Decreases Holdings in Meta Platforms, Inc. (NASDAQ:META)

SageView Advisory Group LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 13.4% in the third quarter, Holdings Channel.com reports. The firm owned 16,868 shares of the social networking company’s stock after selling 2,615 shares during the period. SageView Advisory Group LLC’s holdings in Meta Platforms were worth $9,656,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quadrature Capital Ltd raised its stake in shares of Meta Platforms by 5.4% during the third quarter. Quadrature Capital Ltd now owns 215,090 shares of the social networking company’s stock valued at $123,126,000 after acquiring an additional 11,110 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Meta Platforms by 20.0% during the 3rd quarter. Quantinno Capital Management LP now owns 294,592 shares of the social networking company’s stock valued at $168,637,000 after purchasing an additional 49,194 shares during the period. Royal London Asset Management Ltd. raised its position in Meta Platforms by 3.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 1,351,266 shares of the social networking company’s stock valued at $773,519,000 after purchasing an additional 43,661 shares during the last quarter. Resurgent Financial Advisors LLC lifted its holdings in Meta Platforms by 12.1% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 1,219 shares of the social networking company’s stock worth $698,000 after buying an additional 132 shares during the period. Finally, Polar Asset Management Partners Inc. grew its position in shares of Meta Platforms by 13.6% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 44,200 shares of the social networking company’s stock worth $25,302,000 after buying an additional 5,300 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the completion of the sale, the chief financial officer now owns 51,591 shares of the company’s stock, valued at approximately $29,776,261.56. The trade was a 14.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Aaron Anderson sold 731 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 141,668 shares of company stock valued at $81,288,334. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of several research analyst reports. Scotiabank dropped their target price on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Mizuho lifted their price objective on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Raymond James reissued a “strong-buy” rating and issued a $675.00 target price on shares of Meta Platforms in a research report on Monday, November 25th. Cantor Fitzgerald restated an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research report on Wednesday, October 16th. Finally, UBS Group increased their price objective on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $634.71.

Meta Platforms Price Performance

Meta Platforms stock opened at $613.78 on Thursday. Meta Platforms, Inc. has a 12-month low of $315.39 and a 12-month high of $617.78. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $576.78 and a 200-day moving average price of $529.92. The firm has a market capitalization of $1.55 trillion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 1.35 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current 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.