Shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) have received a consensus rating of “Moderate Buy” from the fifty ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, twenty-three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $298.98.
Several research analysts have issued reports on META shares. UBS Group cut their price target on Meta Platforms from $310.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, June 16th. Morgan Stanley reduced their price target on shares of Meta Platforms from $330.00 to $300.00 and set an “overweight” rating for the company in a research report on Wednesday, June 1st. Canaccord Genuity Group lowered their price objective on shares of Meta Platforms from $360.00 to $330.00 in a report on Thursday, April 28th. Piper Sandler reduced their price objective on shares of Meta Platforms from $230.00 to $220.00 and set a “neutral” rating for the company in a report on Thursday, June 2nd. Finally, Truist Financial dropped their price target on shares of Meta Platforms from $350.00 to $320.00 in a research report on Thursday, April 28th.
In other news, insider Jennifer Newstead sold 476 shares of the company’s stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $210.70, for a total transaction of $100,293.20. Following the sale, the insider now directly owns 13,450 shares in the company, valued at $2,833,915. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Marne L. Levine sold 10,252 shares of the firm’s stock in a transaction that occurred on Sunday, May 15th. The shares were sold at an average price of $198.62, for a total transaction of $2,036,252.24. Following the completion of the transaction, the insider now owns 23,010 shares of the company’s stock, valued at $4,570,246.20. The disclosure for this sale can be found here. Insiders sold a total of 45,772 shares of company stock valued at $9,131,037 over the last quarter. 13.59% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Well Done LLC grew its holdings in shares of Meta Platforms by 1.9% during the fourth quarter. Well Done LLC now owns 1,829 shares of the social networking company’s stock worth $615,000 after purchasing an additional 34 shares in the last quarter. TruWealth Advisors LLC lifted its position in Meta Platforms by 2.8% during the fourth quarter. TruWealth Advisors LLC now owns 1,465 shares of the social networking company’s stock valued at $493,000 after purchasing an additional 40 shares during the last quarter. Meridian Wealth Advisors LLC grew its stake in Meta Platforms by 0.7% in the 4th quarter. Meridian Wealth Advisors LLC now owns 5,659 shares of the social networking company’s stock worth $1,903,000 after buying an additional 40 shares in the last quarter. Ipswich Investment Management Co. Inc. increased its holdings in shares of Meta Platforms by 3.4% in the 4th quarter. Ipswich Investment Management Co. Inc. now owns 1,255 shares of the social networking company’s stock worth $422,000 after buying an additional 41 shares during the last quarter. Finally, Barnett & Company Inc. raised its position in shares of Meta Platforms by 105.0% during the 4th quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock valued at $28,000 after buying an additional 42 shares in the last quarter. Institutional investors own 65.49% of the company’s stock.
Meta Platforms stock opened at $170.88 on Friday. The company has a market capitalization of $462.46 billion, a PE ratio of 12.93, a PEG ratio of 1.37 and a beta of 1.40. Meta Platforms has a 12-month low of $154.25 and a 12-month high of $384.33. The firm’s fifty day moving average is $183.12 and its 200 day moving average is $225.68.
Meta Platforms (NASDAQ:META – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The social networking company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.18. The firm had revenue of $27.91 billion for 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 earned $3.30 earnings per share. On average, analysts anticipate that Meta Platforms will post 11.46 earnings per share for the current fiscal year.
Meta Platforms Company Profile (GetRating)
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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