Meta Platforms (NASDAQ:META – Get Rating) had its target price decreased by Stifel Nicolaus from $230.00 to $185.00 in a research note issued to investors on Thursday, The Fly reports. Stifel Nicolaus currently has a buy rating on the social networking company’s stock.
Several other equities analysts also recently weighed in on the stock. KeyCorp dropped their target price on shares of Meta Platforms from $196.00 to $175.00 and set an overweight rating for the company in a report on Tuesday, October 25th. UBS Group decreased their price target on shares of Meta Platforms from $157.00 to $121.00 and set a buy rating on the stock in a research note on Thursday. Raymond James decreased their price target on shares of Meta Platforms from $215.00 to $171.00 and set an outperform rating on the stock in a research note on Thursday. Itaú Unibanco assumed coverage on shares of Meta Platforms in a research note on Tuesday, July 26th. They set a market perform rating and a $188.00 price target on the stock. Finally, Needham & Company LLC cut shares of Meta Platforms from a hold rating to an underperform rating in a research note on Monday, July 11th. Three analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and twenty-nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $177.43.
Meta Platforms Stock Performance
NASDAQ:META opened at $99.20 on Thursday. The company has a current ratio of 2.57, a quick ratio of 2.52 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $144.00 and a two-hundred day moving average price of $160.22. Meta Platforms has a twelve month low of $96.38 and a twelve month high of $353.83. The company has a market capitalization of $266.60 billion, a P/E ratio of 9.46, a price-to-earnings-growth ratio of 1.15 and a beta of 1.32.
Insider Activity
In other news, insider Jennifer Newstead sold 342 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $158.14, for a total transaction of $54,083.88. Following the completion of the transaction, the insider now owns 16,721 shares of the company’s stock, valued at $2,644,258.94. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CTO Andrew Bosworth sold 11,718 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $180.50, for a total transaction of $2,115,099.00. Following the completion of the transaction, the chief technology officer now owns 14,671 shares of the company’s stock, valued at $2,648,115.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 342 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $158.14, for a total transaction of $54,083.88. Following the transaction, the insider now directly owns 16,721 shares of the company’s stock, valued at approximately $2,644,258.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,934 shares of company stock valued at $8,459,306. 13.59% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Meta Platforms
Several institutional investors have recently bought and sold shares of META. Polen Capital Management LLC lifted its holdings in Meta Platforms by 26.1% in the first quarter. Polen Capital Management LLC now owns 13,165,612 shares of the social networking company’s stock worth $2,927,505,000 after purchasing an additional 2,722,842 shares during the period. Capital International Investors raised its position in Meta Platforms by 4.4% in the first quarter. Capital International Investors now owns 54,050,797 shares of the social networking company’s stock worth $12,019,697,000 after acquiring an additional 2,281,759 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Meta Platforms by 65.9% in the first quarter. Assenagon Asset Management S.A. now owns 5,738,295 shares of the social networking company’s stock worth $1,275,967,000 after acquiring an additional 2,278,994 shares in the last quarter. Renaissance Technologies LLC raised its position in Meta Platforms by 310.7% in the first quarter. Renaissance Technologies LLC now owns 3,001,000 shares of the social networking company’s stock worth $667,302,000 after acquiring an additional 2,270,300 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in Meta Platforms in the first quarter worth about $402,287,000. Institutional investors and hedge funds own 61.70% of the company’s stock.
Meta Platforms Company Profile
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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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