Meta Platforms (NASDAQ:META) Price Target Cut to $500.00

Meta Platforms (NASDAQ:META) had its target price dropped by equities research analysts at Deutsche Bank Aktiengesellschaft from $540.00 to $500.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the social networking company’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 12.79% from the stock’s current price.

Other analysts have also issued research reports about the stock. Wedbush lowered their price target on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research report on Thursday. Jefferies Financial Group lowered their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research report on Thursday. Tigress Financial boosted their price target on shares of Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a research report on Friday, February 9th. Finally, TD Cowen upped their target price on shares of Meta Platforms from $415.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $509.18.

Meta Platforms Stock Up 0.4 %

META opened at $443.29 on Thursday. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.26 and a beta of 1.20. Meta Platforms has a twelve month low of $229.85 and a twelve month high of $531.49. The company’s 50-day moving average price is $494.48 and its two-hundred day moving average price is $404.27.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.37%. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. As a group, equities analysts expect that Meta Platforms will post 20.18 earnings per share for the current year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the sale, the chief technology officer now owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CTO Andrew Bosworth sold 8,036 shares of Meta Platforms stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the sale, the chief technology officer now owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $393.85, for a total transaction of $7,751,361.85. The disclosure for this sale can be found here. Insiders sold 1,349,148 shares of company stock valued at $649,552,559 in the last quarter. Company insiders own 13.75% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

A number of large investors have recently modified their holdings of META. Norges Bank purchased a new position in Meta Platforms during the 4th quarter valued at about $11,285,855,000. FMR LLC lifted its position in Meta Platforms by 4.0% during the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after acquiring an additional 5,001,647 shares during the period. International Assets Investment Management LLC lifted its position in Meta Platforms by 11,154.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after acquiring an additional 4,908,251 shares during the period. Capital Research Global Investors lifted its position in Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after acquiring an additional 4,440,229 shares during the period. Finally, Concentrum Wealth Management lifted its position in Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares during the period. Institutional investors own 79.91% of the company’s stock.

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.