Meta Platforms (NASDAQ:META) Reaches New 52-Week Low at $143.91

Shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) hit a new 52-week low on Wednesday . The stock traded as low as $143.91 and last traded at $144.17, with a volume of 184271 shares traded. The stock had previously closed at $146.09.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Credit Suisse Group decreased their target price on Meta Platforms from $245.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Loop Capital decreased their price target on shares of Meta Platforms from $180.00 to $165.00 and set a “hold” rating on the stock in a report on Monday, August 22nd. Itaú Unibanco initiated coverage on shares of Meta Platforms in a research note on Tuesday, July 26th. They issued a “market perform” rating and a $188.00 price objective for the company. Oppenheimer decreased their target price on shares of Meta Platforms from $305.00 to $190.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Finally, Needham & Company LLC downgraded shares of Meta Platforms from a “hold” rating to an “underperform” rating in a report on Monday, July 11th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $254.46.

Meta Platforms Stock Performance

The company has a 50 day moving average price of $165.12 and a 200 day moving average price of $170.45. The company has a market capitalization of $383.84 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 1.87 and a beta of 1.30.

Meta Platforms (NASDAQ:METAGet Rating) last issued its earnings results on Wednesday, July 27th. The social networking company reported $2.46 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.04). The firm had revenue of $28.82 billion during the quarter, compared to analyst estimates of $28.95 billion. Meta Platforms had a net margin of 28.16% and a return on equity of 26.52%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.61 earnings per share. Research analysts forecast that Meta Platforms, Inc. will post 9.91 EPS for the current year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 342 shares of Meta Platforms stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $145.77, for a total transaction of $49,853.34. Following the completion of the transaction, the insider now owns 22,296 shares in the company, valued at approximately $3,250,087.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 342 shares of the stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $145.77, for a total value of $49,853.34. Following the completion of the sale, the insider now owns 22,296 shares in the company, valued at approximately $3,250,087.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Andrew Bosworth sold 17,428 shares of the stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $176.48, for a total transaction of $3,075,693.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,934 shares of company stock worth $8,511,112. Insiders own 13.59% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

Several institutional investors and hedge funds have recently added to or reduced their stakes in META. Landmark Wealth Management LLC purchased a new stake in Meta Platforms in the 1st quarter valued at about $26,000. Disciplined Investments LLC grew its position in shares of Meta Platforms by 583.3% during the 1st quarter. Disciplined Investments LLC now owns 123 shares of the social networking company’s stock valued at $27,000 after acquiring an additional 105 shares during the period. Rise Advisors LLC bought a new position in shares of Meta Platforms during the 4th quarter valued at approximately $28,000. Comprehensive Financial Consultants Institutional Inc. bought a new position in shares of Meta Platforms during the 4th quarter valued at approximately $31,000. Finally, Dravo Bay LLC bought a new position in shares of Meta Platforms during the 1st quarter valued at approximately $31,000. Hedge funds and other institutional investors own 61.70% of the company’s stock.

Meta Platforms Company Profile

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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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