Community Capital Management LLC lowered its position in Meta Platforms Inc. (NASDAQ:FB – Get Rating) by 33.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,000 shares of the social networking company’s stock after selling 3,500 shares during the quarter. Meta Platforms makes up approximately 2.5% of Community Capital Management LLC’s holdings, making the stock its 7th largest holding. Community Capital Management LLC’s holdings in Meta Platforms were worth $2,354,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. OLD Mission Capital LLC acquired a new stake in shares of Meta Platforms in the third quarter worth about $251,000. Thomasville National Bank lifted its position in shares of Meta Platforms by 25.9% in the third quarter. Thomasville National Bank now owns 3,316 shares of the social networking company’s stock worth $1,125,000 after buying an additional 682 shares during the last quarter. Chickasaw Capital Management LLC acquired a new stake in shares of Meta Platforms in the third quarter worth about $251,000. LVM Capital Management Ltd. MI lifted its position in shares of Meta Platforms by 53.6% in the third quarter. LVM Capital Management Ltd. MI now owns 1,012 shares of the social networking company’s stock worth $343,000 after buying an additional 353 shares during the last quarter. Finally, McAdam LLC lifted its position in shares of Meta Platforms by 12.1% in the third quarter. McAdam LLC now owns 1,714 shares of the social networking company’s stock worth $582,000 after buying an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.
FB has been the subject of several research analyst reports. KGI Securities reissued a “neutral” rating and set a $270.00 price objective on shares of Meta Platforms in a research report on Tuesday, February 8th. Truist Financial cut their price objective on Meta Platforms from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, February 3rd. Wedbush cut their price objective on Meta Platforms from $325.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, February 3rd. Raymond James cut Meta Platforms from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $410.00 to $340.00 in a research report on Thursday, February 3rd. Finally, Morgan Stanley lowered their price target on Meta Platforms from $360.00 to $325.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 2nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Buy” and a consensus target price of $336.51.
Shares of Meta Platforms stock opened at $203.63 on Thursday. The company has a market capitalization of $554.27 billion, a PE ratio of 14.76, a PEG ratio of 1.10 and a beta of 1.39. Meta Platforms Inc. has a 12 month low of $185.82 and a 12 month high of $384.33. The stock’s fifty day simple moving average is $254.88 and its 200 day simple moving average is $311.15.
Meta Platforms (NASDAQ:FB – Get Rating) last issued its quarterly earnings data on Wednesday, February 2nd. The social networking company reported $3.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.78 by ($0.11). The business had revenue of $33.67 billion for the quarter, compared to analyst estimates of $33.44 billion. Meta Platforms had a return on equity of 29.71% and a net margin of 33.38%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.88 EPS. Equities research analysts predict that Meta Platforms Inc. will post 12.2 EPS for the current fiscal year.
In other Meta Platforms news, CAO Susan J.S. Taylor sold 2,272 shares of the stock in a transaction dated Thursday, February 17th. The stock was sold at an average price of $214.00, for a total transaction of $486,208.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 121 shares of the stock in a transaction dated Tuesday, February 8th. The stock was sold at an average price of $220.57, for a total value of $26,688.97. The disclosure for this sale can be found here. Insiders have sold a total of 6,869 shares of company stock worth $1,740,496 in the last ninety days. 14.01% of the stock is currently owned by company insiders.
Meta Platforms Profile (Get Rating)
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.
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