Meta Platforms (NASDAQ:META) Shares Up 1.5%

Meta Platforms, Inc. (NASDAQ:META) shares rose 1.5% during mid-day trading on Monday . The stock traded as high as $459.25 and last traded at $458.56. Approximately 4,628,326 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 18,226,727 shares. The stock had previously closed at $451.96.

Analyst Ratings Changes

META has been the topic of a number of recent analyst reports. KeyCorp lowered their price target on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Truist Financial cut their price target on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Canaccord Genuity Group decreased their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Citigroup reduced their target price on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Robert W. Baird lowered their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $509.80.

Meta Platforms Stock Performance

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 firm has a market cap of $1.18 trillion, a PE ratio of 26.75, a PEG ratio of 1.18 and a beta of 1.21. The firm’s 50 day moving average price is $490.72 and its two-hundred day moving average price is $409.58.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, research analysts forecast that Meta Platforms, Inc. will post 20.1 earnings per share for the current year.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the sale, the insider now owns 36,643 shares in the company, valued at approximately $15,794,965.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Susan J. Li sold 10,956 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the completion of the sale, the chief financial officer now directly owns 76,398 shares of the company’s stock, valued at $36,157,645.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the transaction, the insider now directly owns 36,643 shares in the company, valued at $15,794,965.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,257,876 shares of company stock worth $613,168,252. Insiders own 13.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MGB Wealth Management LLC purchased a new position in Meta Platforms in the first quarter worth $356,000. Gallacher Capital Management LLC grew its stake in shares of Meta Platforms by 93.2% during the 1st quarter. Gallacher Capital Management LLC now owns 1,830 shares of the social networking company’s stock worth $889,000 after purchasing an additional 883 shares during the period. Capital City Trust Co. FL increased its holdings in shares of Meta Platforms by 10.9% in the 1st quarter. Capital City Trust Co. FL now owns 5,616 shares of the social networking company’s stock valued at $2,727,000 after purchasing an additional 551 shares in the last quarter. LCM Capital Management Inc lifted its stake in shares of Meta Platforms by 97.8% in the first quarter. LCM Capital Management Inc now owns 2,381 shares of the social networking company’s stock valued at $1,156,000 after purchasing an additional 1,177 shares during the period. Finally, VitalStone Financial LLC boosted its holdings in Meta Platforms by 836.7% during the first quarter. VitalStone Financial LLC now owns 843 shares of the social networking company’s stock worth $409,000 after buying an additional 753 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

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.