Meta Platforms (NASDAQ:META) Trading Up 0.9%

Meta Platforms, Inc. (NASDAQ:META)’s stock price rose 0.9% during mid-day trading on Tuesday . The company traded as high as $439.62 and last traded at $436.57. Approximately 6,011,543 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 18,268,188 shares. The stock had previously closed at $432.62.

Analysts Set New Price Targets

META has been the subject of several recent research reports. Citigroup reduced their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Robert W. Baird reduced their price objective on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. reduced their price objective on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Stifel Nicolaus upped their price objective on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, TD Cowen reduced their price objective on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $509.80.

Meta Platforms Stock Performance

The stock has a fifty day simple moving average of $492.83 and a two-hundred day simple moving average of $406.97. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market cap of $1.12 trillion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 1.12 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Analysts expect that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 552 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total value of $256,128.00. Following the completion of the sale, the insider now directly owns 34,168 shares of the company’s stock, valued at approximately $15,853,952. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the transaction, the chief operating officer now owns 79,944 shares in the company, valued at approximately $39,015,070.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 552 shares of Meta Platforms stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $464.00, for a total value of $256,128.00. Following the transaction, the insider now owns 34,168 shares of the company’s stock, valued at approximately $15,853,952. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,257,291 shares of company stock valued at $612,916,087. Corporate insiders own 13.71% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds and other institutional investors have recently modified their holdings of the business. S.A. Mason LLC increased its stake in shares of Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after purchasing an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN increased its stake in shares of Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares in the last quarter. LongView Wealth Management increased its stake in shares of Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after purchasing an additional 22 shares in the last quarter. Hanson & Doremus Investment Management increased its stake in shares of Meta Platforms by 5.3% during the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock valued at $211,000 after purchasing an additional 22 shares in the last quarter. Finally, Madison Wealth Partners Inc increased its stake in shares of Meta Platforms by 1.6% during the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other 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.