Meta Platforms, Inc. (NASDAQ:META) is Sassicaia Capital Advisers LLC’s 7th Largest Position

Sassicaia Capital Advisers LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 44.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,400 shares of the social networking company’s stock after selling 1,100 shares during the period. Meta Platforms comprises about 2.3% of Sassicaia Capital Advisers LLC’s holdings, making the stock its 7th largest holding. Sassicaia Capital Advisers LLC’s holdings in Meta Platforms were worth $801,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of META. Lindenwold Advisors INC lifted its holdings in Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after buying an additional 17 shares during the last quarter. Central Valley Advisors LLC lifted its holdings in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after buying an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC lifted its holdings in Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after buying an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC increased its position in shares of Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after purchasing an additional 18 shares in the last quarter. Finally, Kozak & Associates Inc. increased its position in shares of Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after purchasing an additional 18 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 0.0 %

META stock opened at $613.78 on Thursday. The company has a market cap of $1.55 trillion, a price-to-earnings ratio of 28.91, a PEG ratio of 1.35 and a beta of 1.20. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $576.78 and a 200-day simple moving average of $529.92. Meta Platforms, Inc. has a 52 week low of $315.39 and a 52 week high of $617.78.

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

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $577.49, for a total value of $238,503.37. Following the completion of the transaction, the chief operating officer now directly owns 19,166 shares of the company’s stock, valued at $11,068,173.34. This represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Insiders sold a total of 141,668 shares of company stock worth $81,288,334 in the last ninety days. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on META. Truist Financial lifted their target price on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their target price on Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Scotiabank cut their target price on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Pivotal Research lifted their target price on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, JMP Securities lifted their target price on Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $634.71.

Meta Platforms 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.