Meta Platforms (NASDAQ:META) Stock Jumps 2.9% - Here's Why

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) shot up 2.9% during mid-day trading on Friday. The company traded as high as $643.91 and last traded at $641.69. Approximately 15,043,147 shares changed hands during trading, a decline of 17% from the average daily volume of 18,091,543 shares. The stock had previously closed at $623.61.

Meta Platforms News Summary

These are some of the META news items that stood out recently:

• Positive Sentiment: Meta is testing a prediction-market app with employees, using non-cash “cred” to wager on outcomes. If developed for broader use, it could create another engagement feature, though the report describes an early-stage test. Article: Meta employees test prediction-market app
• Negative Sentiment: A UK regulator fined Meta over repeated inaccuracies in WhatsApp Business data, adding regulatory and reputational pressure. Article: Meta fined by UK regulator
• Negative Sentiment: Meta’s shares were described as technically weak after crossing below their 200-day moving average, with one commentary suggesting a bearish trade. Article: As Meta Platforms Continues To Weaken

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wedbush increased their price target on Meta Platforms from $700.00 to $730.00 and gave the stock a "neutral" rating in a research report on Thursday, October 22nd. Guggenheim reissued a "buy" rating and issued a $850.00 price objective on shares of Meta Platforms in a report on Thursday, October 22nd. Rothschild & Co Redburn upped their target price on Meta Platforms from $900.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Bank of America raised their target price on Meta Platforms from $810.00 to $845.00 and gave the stock a "buy" rating in a report on Thursday, October 22nd. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $885.00 price target on shares of Meta Platforms in a research report on Thursday, October 22nd. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and an average target price of $833.12.

Meta Platforms Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $1.64 trillion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 1.09 and a beta of 1.28. The firm's 50 day moving average price is $679.23 and its 200-day moving average price is $631.88.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The social networking company reported $7.40 earnings per share for the quarter, beating the consensus estimate of $6.54 by $0.86. The firm had revenue of $64.60 billion during the quarter, compared to analyst estimates of $63.34 billion. Meta Platforms had a return on equity of 30.73% and a net margin of 31.15%. Meta Platforms's revenue for the quarter was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.25 EPS. On average, research analysts expect that Meta Platforms, Inc. will post 29.01 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, September 21st were paid a dividend of $0.5250 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 21st. Meta Platforms's dividend payout ratio is presently 7.16%.

Insider Buying and Selling at Meta Platforms

In related news, CTO Andrew Bosworth sold 7,848 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $558.00, for a total value of $4,379,184.00. Following the completion of the sale, the chief technology officer owned 828 shares of the company's stock, valued at approximately $462,024. The trade was a 90.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Aaron Anderson sold 3,240 shares of the company's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $618.06, for a total transaction of $2,002,514.40. Following the transaction, the chief accounting officer owned 6,271 shares of the company's stock, valued at $3,875,854.26. This represents a 34.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 150,973 shares of company stock worth $103,128,307. 13.42% of the stock is currently owned by corporate insiders.

Institutional Trading of Meta Platforms

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LP boosted its stake in shares of Meta Platforms by 723.1% in the second quarter. Corient Private Wealth LP now owns 8,801,764 shares of the social networking company's stock worth $4,957,946,000 after acquiring an additional 7,732,446 shares during the last quarter. Jupiter Topco LLC acquired a new position in Meta Platforms in the 2nd quarter valued at $2,948,486,000. State Street Corp raised its stake in Meta Platforms by 4.0% in the 2nd quarter. State Street Corp now owns 92,033,963 shares of the social networking company's stock valued at $51,841,811,000 after purchasing an additional 3,510,123 shares during the last quarter. Bank of America Corp DE lifted its holdings in Meta Platforms by 14.6% in the 1st quarter. Bank of America Corp DE now owns 21,038,035 shares of the social networking company's stock valued at $12,036,491,000 after purchasing an additional 2,673,494 shares in the last quarter. Finally, Amundi lifted its holdings in Meta Platforms by 18.1% in the 1st quarter. Amundi now owns 11,858,972 shares of the social networking company's stock valued at $6,784,873,000 after purchasing an additional 1,815,017 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

About Meta Platforms

Meta Platforms, Inc. is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world. The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta's business, with its platforms providing tools for businesses to promote products and services.

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