Meta Platforms (NASDAQ:META) PT Raised to $220.00

Meta Platforms (NASDAQ:META – Get Rating) had its price objective raised by research analysts at Robert W. Baird from $205.00 to $220.00 in a report released on Wednesday, The Fly reports. Robert W. Baird’s price objective points to a potential upside of 7.35% from the company’s current price.

A number of other equities analysts have also weighed in on META. Wells Fargo & Company upped their target price on Meta Platforms from $165.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. Wolfe Research raised their price objective on shares of Meta Platforms from $150.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, February 2nd. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, March 8th. New Street Research started coverage on shares of Meta Platforms in a research report on Wednesday, January 4th. They issued a “buy” rating and a $145.00 price target on the stock. Finally, OTR Global lowered Meta Platforms to a “positive” rating in a report on Wednesday, January 11th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $209.27.

Meta Platforms Trading Up 3.6 %

META opened at $204.93 on Wednesday. The company has a fifty day moving average price of $165.11 and a two-hundred day moving average price of $140.08. Meta Platforms has a 1-year low of $88.09 and a 1-year high of $236.86. The company has a market cap of $531.31 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.18. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.08.

Meta Platforms (NASDAQ:META – Get Rating) last issued its earnings results on Wednesday, February 1st. The social networking company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.12 by $0.88. Meta Platforms had a return on equity of 21.23% and a net margin of 19.90%. The company had revenue of $32.17 billion during the quarter, compared to the consensus estimate of $31.69 billion. During the same period last year, the business posted $3.67 EPS. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. Analysts predict that Meta Platforms will post 9.89 EPS for the current fiscal year.

Insider Activity at Meta Platforms

In other Meta Platforms news, CAO Susan J.S. Taylor sold 1,400 shares of the stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $172.96, for a total value of $242,144.00. Following the sale, the chief accounting officer now directly owns 2,949 shares in the company, valued at approximately $510,059.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 342 shares of the company’s stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $116.44, for a total value of $39,822.48. Following the transaction, the insider now directly owns 25,819 shares in the company, valued at $3,006,364.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Susan J.S. Taylor sold 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $172.96, for a total transaction of $242,144.00. Following the completion of the sale, the chief accounting officer now directly owns 2,949 shares in the company, valued at $510,059.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,342 shares of company stock valued at $12,285,012. Corporate insiders own 14.03% of the company’s stock.

Institutional Trading of Meta Platforms

Hedge funds have recently made changes to their positions in the stock. Laraway Financial Advisors Inc lifted its stake in Meta Platforms by 2.9% during the first quarter. Laraway Financial Advisors Inc now owns 3,490 shares of the social networking company’s stock worth $776,000 after purchasing an additional 100 shares during the last quarter. Red Wave Investments LLC lifted its position in Meta Platforms by 6.4% in the 1st quarter. Red Wave Investments LLC now owns 1,870 shares of the social networking company’s stock worth $416,000 after buying an additional 113 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in Meta Platforms by 1.2% in the second quarter. Rehmann Capital Advisory Group now owns 12,884 shares of the social networking company’s stock worth $2,078,000 after buying an additional 157 shares in the last quarter. Dimension Capital Management LLC grew its position in Meta Platforms by 4.9% during the second quarter. Dimension Capital Management LLC now owns 3,677 shares of the social networking company’s stock valued at $593,000 after acquiring an additional 172 shares during the last quarter. Finally, Riverpoint Wealth Management Holdings LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $25,000. 60.92% of the stock is owned by institutional investors.

Meta Platforms Company Profile

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Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.