Meta Platforms (NASDAQ:META) Shares Up 1.6% - Still a Buy?

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) shares traded up 1.6% on Tuesday . The company traded as high as $639.38 and last traded at $637.15. 2,779,541 shares traded hands during trading, a decline of 81% from the average session volume of 14,449,592 shares. The stock had previously closed at $627.06.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Susquehanna decreased their price target on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Barclays cut their price target on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Evercore ISI upped their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Loop Capital raised their price objective on shares of Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, Monness Crespi & Hardt lifted their price target on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $701.05.

Meta Platforms Price Performance

The firm has a market capitalization of $1.62 trillion, a P/E ratio of 26.99, a PEG ratio of 1.42 and a beta of 1.24. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average of $576.79 and a 200-day moving average of $609.77.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the prior year, the business posted $4.71 EPS. Meta Platforms's revenue was up 16.1% on a year-over-year basis. Equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Activity

In related news, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $491.69, for a total value of $199,626.14. Following the completion of the sale, the chief operating officer now owns 4,608 shares of the company's stock, valued at approximately $2,265,707.52. This trade represents a 8.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the sale, the chief financial officer now owns 70,040 shares of the company's stock, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,628 shares of company stock valued at $48,380,586 over the last ninety days. 13.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Meta Platforms

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intrua Financial LLC increased its position in Meta Platforms by 19.4% in the first quarter. Intrua Financial LLC now owns 912 shares of the social networking company's stock worth $525,000 after buying an additional 148 shares in the last quarter. Advisors Capital Management LLC increased its holdings in Meta Platforms by 16.2% during the 1st quarter. Advisors Capital Management LLC now owns 11,584 shares of the social networking company's stock worth $6,677,000 after purchasing an additional 1,611 shares during the period. SWS Partners lifted its stake in shares of Meta Platforms by 1.0% during the 1st quarter. SWS Partners now owns 4,466 shares of the social networking company's stock worth $2,574,000 after purchasing an additional 46 shares during the last quarter. Mattson Financial Services LLC grew its stake in Meta Platforms by 8.4% in the first quarter. Mattson Financial Services LLC now owns 11,663 shares of the social networking company's stock valued at $6,722,000 after purchasing an additional 902 shares during the last quarter. Finally, BOS Asset Management LLC grew its stake in shares of Meta Platforms by 10.2% during the first quarter. BOS Asset Management LLC now owns 2,699 shares of the social networking company's stock worth $1,556,000 after acquiring an additional 250 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

About Meta Platforms

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.