Meta Platforms (NASDAQ:META) Stock Price Down 1%

Meta Platforms, Inc. (NASDAQ:META - Get Free Report)'s share price traded down 1% during trading on Thursday . The stock traded as low as $472.85 and last traded at $476.88. 5,959,606 shares were traded during mid-day trading, a decline of 66% from the average session volume of 17,745,541 shares. The stock had previously closed at $481.54.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Loop Capital cut their price objective on Meta Platforms from $555.00 to $550.00 and set a "buy" rating on the stock in a research report on Wednesday, May 1st. Evercore ISI upped their price objective on Meta Platforms from $425.00 to $550.00 and gave the company an "outperform" rating in a research report on Friday, February 2nd. Royal Bank of Canada cut their price objective on Meta Platforms from $600.00 to $570.00 and set an "outperform" rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. cut their price objective on Meta Platforms from $535.00 to $480.00 and set an "overweight" rating on the stock in a research report on Thursday, April 25th. Finally, BNP Paribas assumed coverage on Meta Platforms in a research report on Thursday, May 2nd. They issued an "underperform" rating and a $360.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $509.80.

Meta Platforms Stock Performance

The business has a 50 day simple moving average of $486.94 and a 200 day simple moving average of $418.61. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.20 trillion, a PE ratio of 27.18, a PEG ratio of 1.22 and a beta of 1.21.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating 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 return on equity of 32.03% and a net margin of 32.06%. Equities research analysts predict that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.

Insider Activity

In other news, CEO Mark Zuckerberg sold 97,093 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $466.08, for a total value of $45,253,105.44. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Jennifer Newstead sold 585 shares of the firm's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $469.88, for a total transaction of $274,879.80. Following the sale, the insider now directly owns 42,493 shares of the company's stock, valued at $19,966,610.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 97,093 shares of the firm's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $466.08, for a total value of $45,253,105.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,029,530 shares of company stock valued at $506,099,106. Company insiders own 13.71% of the company's stock.

Institutional Trading of Meta Platforms

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Stone House Investment Management LLC grew its holdings in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company's stock valued at $26,000 after purchasing an additional 75 shares during the period. Beaird Harris Wealth Management LLC grew its holdings in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company's stock valued at $31,000 after purchasing an additional 42 shares during the period. Quest Partners LLC purchased a new position in shares of Meta Platforms in the fourth quarter valued at approximately $32,000. Clear Investment Research LLC lifted its position in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company's stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Finally, Delos Wealth Advisors LLC lifted its position in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company's stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Company Profile

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.