Meta Platforms, Inc. (NASDAQ:META - Get Free Report)'s stock price traded up 3.7% during mid-day trading on Wednesday . The stock traded as high as $638.50 and last traded at $635.26. 22,476,765 shares changed hands during mid-day trading, an increase of 43% from the average session volume of 15,746,555 shares. The stock had previously closed at $612.34.
More Meta Platforms News
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta launched global subscriptions for Instagram, Facebook, and WhatsApp, while also testing new subscription products for businesses, creators, and Meta AI users, creating additional revenue opportunities. Meta launches Instagram, Facebook, and WhatsApp subscriptions, with more to come, including AI plans
- Positive Sentiment: Analysts and market commentary highlighted solid momentum in Meta’s ad business, with AI improving engagement and pricing power, which supports revenue growth and investor sentiment. META Rides on Solid Momentum in Ad Business: A Sign of More Upside?
- Positive Sentiment: Reports noted that Meta’s AI model improvements helped drive a 3.5x increase in ad clicks on Facebook and better conversion rates on Instagram, underscoring the payoff from its AI spending. Nvidia Just Revealed Meta’s Secret AI Model Led to 3.5x Increase in Ad Clicks
- Positive Sentiment: Several recent articles argued Meta remains a long-term growth or value opportunity, reflecting continued bullish investor interest after the recent pullback. Why Meta Platforms (META) is a Top Growth Stock for the Long-Term
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the company. Citigroup reaffirmed an "outperform" rating on shares of Meta Platforms in a research report on Thursday, January 29th. Wall Street Zen downgraded Meta Platforms from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Monness Crespi & Hardt raised their price target on Meta Platforms from $808.00 to $890.00 and gave the company a "buy" rating in a research report on Thursday, January 29th. BMO Capital Markets raised their price target on Meta Platforms from $710.00 to $730.00 and gave the company a "market perform" rating in a research report on Thursday, January 29th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Meta Platforms in a research report on Thursday, January 29th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and a consensus target price of $840.19.
View Our Latest Stock Report on Meta Platforms
Meta Platforms Trading Up 3.7%
The firm has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 23.09, a P/E/G ratio of 1.08 and a beta of 1.25. The business has a 50-day moving average of $617.09 and a two-hundred day moving average of $636.70. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, beating analysts' consensus estimates of $6.67 by $3.77. The company had revenue of $56.31 billion for the quarter, compared to the consensus estimate of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The company's quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the business earned $6.43 earnings per share. Research analysts predict that Meta Platforms, Inc. will post 29.49 EPS for the current fiscal year.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, CFO Susan J. Li sold 9,195 shares of Meta Platforms stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the sale, the chief financial officer directly owned 13,186 shares of the company's stock, valued at approximately $8,014,978.24. The trade was a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Andrew Bosworth sold 7,847 shares of Meta Platforms stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the sale, the chief technology officer directly owned 414 shares in the company, valued at $251,641.62. The trade was a 94.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 95,471 shares of company stock valued at $60,616,955. 13.53% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Meta Platforms
A number of institutional investors have recently added to or reduced their stakes in META. Ashton Thomas Private Wealth LLC lifted its stake in Meta Platforms by 34.2% in the third quarter. Ashton Thomas Private Wealth LLC now owns 52,252 shares of the social networking company's stock valued at $38,373,000 after buying an additional 13,311 shares during the period. Keybank National Association OH lifted its stake in Meta Platforms by 15.7% in the fourth quarter. Keybank National Association OH now owns 133,798 shares of the social networking company's stock valued at $88,319,000 after buying an additional 18,169 shares during the period. Becker Capital Management Inc. lifted its stake in Meta Platforms by 5.0% in the third quarter. Becker Capital Management Inc. now owns 35,052 shares of the social networking company's stock valued at $25,741,000 after buying an additional 1,657 shares during the period. Diversified Trust Co. lifted its stake in Meta Platforms by 4.1% in the fourth quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company's stock valued at $55,487,000 after buying an additional 3,336 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC lifted its stake in Meta Platforms by 16.2% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 6,933 shares of the social networking company's stock valued at $5,091,000 after buying an additional 968 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.
About Meta Platforms
(
Get Free Report)
Meta Platforms, Inc NASDAQ: META, formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.
Meta's core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.
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