Nuveen Asset Management LLC Sells 1,552,770 Shares of Meta Platforms, Inc. (NASDAQ:FB)

Nuveen Asset Management LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:FBGet Rating) by 8.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,079,969 shares of the social networking company’s stock after selling 1,552,770 shares during the period. Meta Platforms accounts for about 1.6% of Nuveen Asset Management LLC’s investment portfolio, making the stock its 7th largest holding. Nuveen Asset Management LLC’s holdings in Meta Platforms were worth $5,408,498,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Barnett & Company Inc. raised its position in shares of Meta Platforms by 105.0% in the 4th quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock worth $28,000 after buying an additional 42 shares during the period. Evolution Advisers Inc. purchased a new position in shares of Meta Platforms in the 4th quarter worth $48,000. Horan Securities Inc. purchased a new position in shares of Meta Platforms in the 4th quarter worth $53,000. Maryland Capital Advisors Inc. purchased a new position in shares of Meta Platforms in the 4th quarter worth $58,000. Finally, Leverty Financial Group LLC purchased a new position in shares of Meta Platforms in the 4th quarter worth $60,000. Institutional investors and hedge funds own 65.49% of the company’s stock.

In other Meta Platforms news, CTO Andrew Bosworth sold 11,718 shares of the company’s stock in a transaction on Sunday, May 15th. The stock was sold at an average price of $198.62, for a total value of $2,327,429.16. Following the transaction, the chief technology officer now owns 11,913 shares of the company’s stock, valued at $2,366,160.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 342 shares of Meta Platforms stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $180.53, for a total transaction of $61,741.26. Following the transaction, the insider now owns 20,141 shares in the company, valued at $3,636,054.73. The disclosure for this sale can be found here. Insiders sold 46,100 shares of company stock worth $9,279,275 in the last ninety days. 13.59% of the stock is owned by corporate insiders.

NASDAQ:FB traded up $7.80 during midday trading on Thursday, hitting $191.63. 23,015,553 shares of the stock were exchanged, compared to its average volume of 35,571,602. Meta Platforms, Inc. has a one year low of $169.00 and a one year high of $384.33. The company has a market capitalization of $518.61 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 1.21 and a beta of 1.37. The business has a 50-day moving average price of $207.33 and a two-hundred day moving average price of $260.78.

Meta Platforms (NASDAQ:FBGet Rating) last announced its earnings results on Wednesday, April 27th. The social networking company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.66 by $0.06. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. During the same quarter in the previous year, the business earned $3.30 EPS. As a group, analysts forecast that Meta Platforms, Inc. will post 11.63 earnings per share for the current fiscal year.

Several brokerages recently weighed in on FB. Raymond James cut their target price on Meta Platforms from $340.00 to $290.00 in a research report on Thursday, April 28th. StockNews.com assumed coverage on Meta Platforms in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. KeyCorp cut their price objective on Meta Platforms from $420.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, February 3rd. BMO Capital Markets cut their price objective on Meta Platforms from $290.00 to $225.00 in a research report on Friday, April 22nd. Finally, Evercore ISI cut their price objective on Meta Platforms from $350.00 to $325.00 in a research report on Thursday, April 28th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $312.24.

Meta Platforms Company Profile (Get Rating)

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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:FB)

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