From MarketBeat:

Geneva Partners LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 10.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,740 shares of the social networking company’s stock after selling 2,884 shares during the quarter, worth $7,430,000.

However, a number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ridgecrest Wealth Partners LLC raised its position in Meta Platforms by 3.2%, and Kowal Investment Group LLC grew its stake by 15.6% in the 3rd quarter.

Shares of META stock opened at $351.95 on Friday, with a market capitalization of $904.46 billion. The firm’s 50-day moving average is $334.39 and its two-hundred day moving average is $313.24. Meta Platforms, Inc. has a PE ratio of 31.06, and analysts predict that it will post 14.32 earnings per share for the current year.

Analysts have commented on META shares with forty-two assigning a buy rating and two assigning a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $354.37.

In other news, CFO Susan J. Li sold 10,642 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th, totaling $3,579,011.02. Additionally, Insider Nicholas Clegg sold 2,145 shares of Meta Platforms stock in a transaction that occurred on Wednesday, November 15th, with CFO Susan J. Li selling 10,642 shares and insiders have sold 688,944 shares of company stock valued at $230,574,460.



Read more: Meta Platforms, Inc. (NASDAQ:META) Stake Trimmed by Geneva Partners LLC