Meta Platforms (NASDAQ:META) Reaches New 52-Week Low at $158.14

Shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) hit a new 52-week low during trading on Tuesday . The company traded as low as $158.14 and last traded at $159.14, with a volume of 884600 shares trading hands. The stock had previously closed at $163.74.

A number of brokerages have commented on META. BMO Capital Markets cut their price target on shares of Meta Platforms from $290.00 to $225.00 in a research note on Friday, April 22nd. Rosenblatt Securities began coverage on shares of Meta Platforms in a research note on Tuesday, April 19th. They issued a “neutral” rating and a $228.00 price target for the company. Evercore ISI cut their price target on shares of Meta Platforms from $350.00 to $325.00 in a research note on Thursday, April 28th. Benchmark started coverage on shares of Meta Platforms in a research report on Tuesday, March 1st. They issued a “hold” rating on the stock. Finally, Morgan Stanley dropped their price objective on shares of Meta Platforms from $330.00 to $300.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 1st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $305.87.

The firm’s 50 day moving average price is $193.14 and its two-hundred day moving average price is $241.09. The company has a market cap of $427.25 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.04 and a beta of 1.37.

Meta Platforms (NASDAQ:METAGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The social networking company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.18. The business had revenue of $27.91 billion during the quarter, compared to analyst estimates of $28.21 billion. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. During the same quarter in the previous year, the business posted $3.30 EPS. On average, analysts predict that Meta Platforms, Inc. will post 11.56 earnings per share for the current fiscal year.

In other Meta Platforms news, insider Jennifer Newstead sold 476 shares of Meta Platforms stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $233.92, for a total transaction of $111,345.92. Following the transaction, the insider now directly owns 14,402 shares of the company’s stock, valued at approximately $3,368,915.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Susan J.S. Taylor sold 1,420 shares of Meta Platforms stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $202.16, for a total transaction of $287,067.20. Following the transaction, the chief accounting officer now directly owns 1,605 shares in the company, valued at $324,466.80. The disclosure for this sale can be found here. Insiders have sold a total of 45,698 shares of company stock worth $9,181,081 over the last ninety days. Insiders own 13.59% of the company’s stock.

Several large investors have recently modified their holdings of the stock. IMA Wealth Inc. lifted its holdings in Meta Platforms by 13.4% during the first quarter. IMA Wealth Inc. now owns 13,783 shares of the social networking company’s stock valued at $3,065,000 after purchasing an additional 1,630 shares during the last quarter. Finer Wealth Management Inc. lifted its holdings in Meta Platforms by 4.6% during the first quarter. Finer Wealth Management Inc. now owns 11,652 shares of the social networking company’s stock valued at $2,591,000 after purchasing an additional 512 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in Meta Platforms by 4.5% during the first quarter. Rehmann Capital Advisory Group now owns 12,727 shares of the social networking company’s stock valued at $2,820,000 after purchasing an additional 548 shares during the last quarter. Astoria Portfolio Advisors LLC. purchased a new stake in Meta Platforms during the first quarter valued at about $278,000. Finally, City State Bank increased its position in shares of Meta Platforms by 30.4% during the first quarter. City State Bank now owns 1,564 shares of the social networking company’s stock valued at $348,000 after buying an additional 365 shares during the period. 65.49% of the stock is currently owned by institutional investors.

Meta Platforms Company Profile (NASDAQ:META)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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