Trifecta Capital Advisors LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Financial News Live · Mar 25, 2023 04:13

Trifecta Capital Advisors LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META – Get Rating) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,435 shares of the social networking company's stock, valued at approximately $293,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of META. Laraway Financial Advisors Inc grew its stake in shares of Meta Platforms by 2.9% during the first quarter. Laraway Financial Advisors Inc now owns 3,490 shares of the social networking company's stock worth $776,000 after purchasing an additional 100 shares in the last quarter. Red Wave Investments LLC boosted its position in shares of Meta Platforms by 6.4% during the 1st quarter. Red Wave Investments LLC now owns 1,870 shares of the social networking company's stock worth $416,000 after acquiring an additional 113 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of Meta Platforms by 1.2% in the 2nd quarter. Rehmann Capital Advisory Group now owns 12,884 shares of the social networking company's stock valued at $2,078,000 after acquiring an additional 157 shares during the last quarter. Dimension Capital Management LLC lifted its stake in Meta Platforms by 4.9% during the second quarter. Dimension Capital Management LLC now owns 3,677 shares of the social networking company's stock worth $593,000 after purchasing an additional 172 shares during the last quarter. Finally, Horan Securities Inc. acquired a new position in Meta Platforms in the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 60.92% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Rosenblatt Securities raised shares of Meta Platforms from a "neutral" rating to a "buy" rating and increased their target price for the company from $104.00 to $220.00 in a research report on Thursday, February 2nd. Arete Research reiterated a "sell" rating on shares of Meta Platforms in a research report on Monday, March 6th. Stifel Nicolaus upped their target price on Meta Platforms from $210.00 to $230.00 in a research report on Wednesday, March 15th. Roth Capital lifted their price target on Meta Platforms from $125.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, February 2nd. Finally, DZ Bank upgraded Meta Platforms from a "sell" rating to a "hold" rating and set a $180.00 price objective for the company in a research note on Friday, February 3rd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $212.33.

Meta Platforms Price Performance

META opened at $204.28 on Friday. Meta Platforms, Inc. has a 1 year low of $88.09 and a 1 year high of $236.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.20 and a current ratio of 2.20. The company's 50 day simple moving average is $171.86 and its 200 day simple moving average is $141.43. The stock has a market capitalization of $529.62 billion, a PE ratio of 23.81, a P/E/G ratio of 1.82 and a beta of 1.18.

Meta Platforms (NASDAQ:META – Get Rating) last announced its quarterly earnings data on Wednesday, February 1st. The social networking company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.88. The company had revenue of $32.17 billion during the quarter, compared to analysts' expectations of $31.69 billion. Meta Platforms had a net margin of 19.90% and a return on equity of 21.23%. The business's quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.67 EPS. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 10.44 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 10,888 shares of the business's stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $179.48, for a total transaction of $1,954,178.24. Following the completion of the sale, the chief technology officer now owns 12,743 shares in the company, valued at approximately $2,287,113.64. 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, CTO Andrew Bosworth sold 10,888 shares of the business's stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $179.48, for a total transaction of $1,954,178.24. Following the completion of the sale, the chief technology officer now directly owns 12,743 shares in the company, valued at $2,287,113.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 342 shares of the firm's stock in a transaction on Wednesday, December 28th. The shares were sold at an average price of $116.44, for a total transaction of $39,822.48. Following the completion of the transaction, the insider now directly owns 25,819 shares in the company, valued at approximately $3,006,364.36. The disclosure for this sale can be found here. Insiders sold 68,393 shares of company stock worth $12,324,981 over the last three months. 14.03% of the stock is owned by insiders.

Meta Platforms Company Profile

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Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.

Trifecta Capital Advisors LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Analyst Upgrades and Downgrades

Meta Platforms Price Performance

Insiders Place Their Bets

Meta Platforms Company Profile

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