Clarity Wealth Advisors LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 11.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,654 shares of the social networking company's stock after purchasing an additional 1,016 shares during the period. Meta Platforms makes up about 0.9% of Clarity Wealth Advisors LLC's investment portfolio, making the stock its 29th biggest holding. Clarity Wealth Advisors LLC's holdings in Meta Platforms were worth $1,556,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC lifted its position in shares of Meta Platforms by 3.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 5,529 shares of the social networking company's stock worth $892,000 after purchasing an additional 179 shares during the last quarter. Integrated Investment Consultants LLC raised its holdings in shares of Meta Platforms by 26.8% during the second quarter. Integrated Investment Consultants LLC now owns 4,304 shares of the social networking company's stock valued at $694,000 after buying an additional 909 shares during the last quarter. First American Trust FSB increased its stake in shares of Meta Platforms by 3.9% during the second quarter. First American Trust FSB now owns 45,288 shares of the social networking company's stock valued at $7,303,000 after acquiring an additional 1,701 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Meta Platforms by 10.2% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 13,257 shares of the social networking company's stock valued at $2,138,000 after acquiring an additional 1,227 shares during the period. Finally, Sawtooth Solutions LLC grew its position in Meta Platforms by 13.3% in the second quarter. Sawtooth Solutions LLC now owns 26,029 shares of the social networking company's stock worth $4,197,000 after buying an additional 3,056 shares during the last quarter. 61.70% of the stock is currently owned by institutional investors and hedge funds.
Get Meta Platforms alerts:Insider Activity
In other Meta Platforms news, CTO Andrew Bosworth sold 17,428 shares of the firm's stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $176.48, for a total transaction of $3,075,693.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jennifer Newstead sold 342 shares of the firm's stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $145.77, for a total transaction of $49,853.34. Following the completion of the sale, the insider now directly owns 22,296 shares of the company's stock, valued at approximately $3,250,087.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 17,428 shares of the stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $176.48, for a total value of $3,075,693.44. The disclosure for this sale can be found here. Insiders sold 47,592 shares of company stock worth $8,453,006 over the last three months. 13.59% of the stock is currently owned by corporate insiders.
Meta Platforms Price Performance
Shares of META stock traded up $0.77 on Tuesday, hitting $137.14. The stock had a trading volume of 450,221 shares, compared to its average volume of 27,474,876. The stock has a market cap of $368.57 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.80 and a beta of 1.30. Meta Platforms, Inc. has a 12-month low of $136.19 and a 12-month high of $355.15. The business has a 50 day moving average of $164.26 and a 200 day moving average of $169.61.Meta Platforms (NASDAQ:META – Get Rating) last announced its earnings results on Wednesday, July 27th. The social networking company reported $2.46 EPS for the quarter, missing analysts' consensus estimates of $2.50 by ($0.04). The business had revenue of $28.82 billion for the quarter, compared to the consensus estimate of $28.95 billion. Meta Platforms had a net margin of 28.16% and a return on equity of 26.52%. The business's quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $3.61 EPS. As a group, research analysts expect that Meta Platforms, Inc. will post 9.91 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. Morgan Stanley decreased their price objective on shares of Meta Platforms from $280.00 to $225.00 and set an "overweight" rating for the company in a research note on Friday, August 19th. Cowen reduced their price objective on shares of Meta Platforms from $300.00 to $275.00 and set an "outperform" rating for the company in a research note on Wednesday, July 13th. Cowen reduced their price objective on shares of Meta Platforms from $300.00 to $275.00 and set an "outperform" rating for the company in a research note on Wednesday, July 13th. StockNews.com began coverage on shares of Meta Platforms in a report on Monday, July 4th. They issued a "hold" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Meta Platforms from $265.00 to $235.00 in a report on Thursday, July 21st. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $254.46.
About Meta Platforms
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Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
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