Meta Platforms (NASDAQ:META) PT Lowered to $530.00

Meta Platforms (NASDAQ:META) had its price objective decreased by stock analysts at TD Cowen from $590.00 to $530.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the social networking company’s stock. TD Cowen’s price objective suggests a potential upside of 19.56% from the stock’s current price.

A number of other brokerages also recently issued reports on META. Canaccord Genuity Group increased their price target on shares of Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Piper Sandler restated an “overweight” rating and set a $545.00 price objective (down from $600.00) on shares of Meta Platforms in a research report on Thursday. Tigress Financial upped their price objective on shares of Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 9th. Sanford C. Bernstein reduced their price objective on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group reduced their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $509.18.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $443.29 on Thursday. The company’s fifty day moving average price is $494.48 and its 200 day moving average price is $404.27. Meta Platforms has a 1 year low of $229.85 and a 1 year high of $531.49. The company has a market capitalization of $1.13 trillion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.26 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67.

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

Insider Activity

In other news, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $404.00, for a total value of $228,664.00. Following the completion of the transaction, the insider now owns 34,720 shares of the company’s stock, valued at $14,026,880. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Javier Olivan sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $400.00, for a total value of $2,600,000.00. Following the completion of the transaction, the chief operating officer now owns 68,935 shares of the company’s stock, valued at $27,574,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $404.00, for a total transaction of $228,664.00. Following the completion of the transaction, the insider now directly owns 34,720 shares of the company’s stock, valued at approximately $14,026,880. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,349,148 shares of company stock valued at $649,552,559. 13.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in META. Private Trust Co. NA lifted its stake in Meta Platforms by 3.3% in the third quarter. Private Trust Co. NA now owns 10,747 shares of the social networking company’s stock worth $3,226,000 after acquiring an additional 339 shares during the last quarter. Wagner Wealth Management LLC lifted its stake in Meta Platforms by 28.0% in the third quarter. Wagner Wealth Management LLC now owns 1,130 shares of the social networking company’s stock worth $339,000 after acquiring an additional 247 shares during the last quarter. Redwood Wealth Management Group LLC lifted its stake in Meta Platforms by 21.7% in the third quarter. Redwood Wealth Management Group LLC now owns 1,764 shares of the social networking company’s stock worth $530,000 after acquiring an additional 315 shares during the last quarter. Strategic Blueprint LLC lifted its stake in Meta Platforms by 11.3% in the third quarter. Strategic Blueprint LLC now owns 7,339 shares of the social networking company’s stock worth $2,203,000 after acquiring an additional 748 shares during the last quarter. Finally, Richelieu Gestion SA lifted its stake in Meta Platforms by 29.1% in the third quarter. Richelieu Gestion SA now owns 2,595 shares of the social networking company’s stock worth $779,000 after acquiring an additional 585 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

About Meta Platforms

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.