Meta Platforms, Inc. (NASDAQ:META) experienced notable shifts in institutional investor positions during the third quarter. GFS Advisors LLC reported an 89.6% decrease in its holdings, now owning 20,542 shares valued at approximately $11.76 million. Conversely, Janney Montgomery Scott LLC increased its stake by 1.4%, acquiring an additional 5,594 shares, bringing its total to 412,046 shares worth around $235.87 million.
Other institutional movements include Delos Wealth Advisors LLC, which raised its position by 527.3%, now holding 69 shares valued at $34,000. POM Investment Strategies LLC and Ruedi Wealth Management Inc. also made new acquisitions, with the latter increasing its holdings by 122.2% to 80 shares worth $40,000.
Research analysts have varied opinions on META, with HSBC Global Research upgrading the stock to a 'hold' rating. Oppenheimer raised its price target from $525.00 to $615.00, while Citigroup increased its target from $645.00 to $705.00, maintaining a 'buy' rating. Overall, the stock has received 35 'buy' ratings, two 'strong buy' ratings, and two 'sell' ratings.
CEO Mark Zuckerberg sold 84 shares on October 14 at an average price of $600.00, totaling $50,400. Following this transaction, he retains 518,424 shares valued at approximately $311 million. Insider trading also included CTO Andrew Bosworth, who sold 5,057 shares for about $2.66 million.
As of November 6, META opened at $572.43, boasting a market capitalization of $1.45 trillion and a P/E ratio of 26.96. The company's recent quarterly earnings report revealed an EPS of $6.03, surpassing estimates, and revenue of $40.59 billion.