Meta Platforms, Inc. (NASDAQ:META - Get Free Report) fell 2% during trading on Monday . The company traded as low as $462.85 and last traded at $466.83. 4,926,736 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 17,895,980 shares. The stock had previously closed at $476.20.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on META. Oppenheimer cut their price objective on shares of Meta Platforms from $585.00 to $500.00 and set an "outperform" rating on the stock in a report on Thursday, April 25th. Canaccord Genuity Group reduced their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. BNP Paribas started coverage on shares of Meta Platforms in a research report on Thursday, May 2nd. They set an "underperform" rating and a $360.00 target price on the stock. Rosenblatt Securities boosted their target price on Meta Platforms from $520.00 to $562.00 and gave the stock a "buy" rating in a research note on Thursday, April 25th. Finally, Raymond James decreased their price target on Meta Platforms from $550.00 to $525.00 and set a "strong-buy" rating for the company in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $509.80.
Check Out Our Latest Report on Meta Platforms
Meta Platforms Trading Down 1.7 %
The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The firm has a 50-day moving average of $488.98 and a 200-day moving average of $415.28. The firm has a market capitalization of $1.19 trillion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.21.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.
Insider Activity at Meta Platforms
In other news, CEO Mark Zuckerberg sold 34,398 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $469.69, for a total transaction of $16,156,396.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Mark Zuckerberg sold 34,398 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $469.69, for a total value of $16,156,396.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 576 shares of the firm's stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $466.33, for a total transaction of $268,606.08. Following the completion of the sale, the insider now owns 36,067 shares of the company's stock, valued at $16,819,124.11. The disclosure for this sale can be found here. Insiders have sold a total of 1,092,501 shares of company stock worth $535,778,532 in the last 90 days. Company insiders own 13.71% of the company's stock.
Institutional Trading of Meta Platforms
A number of hedge funds and other institutional investors have recently modified their holdings of META. Phillips Wealth Planners LLC purchased a new position in Meta Platforms in the 3rd quarter worth approximately $254,000. Aire Advisors LLC boosted its position in shares of Meta Platforms by 1.0% during the third quarter. Aire Advisors LLC now owns 6,815 shares of the social networking company's stock valued at $2,046,000 after buying an additional 66 shares during the last quarter. Perfromance Wealth Partners LLC raised its position in Meta Platforms by 3.2% in the 3rd quarter. Perfromance Wealth Partners LLC now owns 3,095 shares of the social networking company's stock worth $929,000 after buying an additional 95 shares during the last quarter. Choate Investment Advisors lifted its stake in Meta Platforms by 208.4% during the 3rd quarter. Choate Investment Advisors now owns 15,615 shares of the social networking company's stock valued at $4,688,000 after acquiring an additional 10,551 shares during the period. Finally, Harrell Investment Partners LLC lifted its stake in Meta Platforms by 22.1% during the 3rd quarter. Harrell Investment Partners LLC now owns 6,752 shares of the social networking company's stock valued at $2,072,000 after acquiring an additional 1,223 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.
Meta Platforms Company Profile
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Get Free Report)
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.
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