Meta Platforms (NASDAQ:META) Shares Down 0.1%

Shares of Meta Platforms, Inc. (NASDAQ:META) fell 0.1% on Tuesday . The company traded as low as $461.31 and last traded at $465.34. 3,721,609 shares were traded during trading, a decline of 80% from the average session volume of 18,184,188 shares. The stock had previously closed at $465.68.

Wall Street Analyst Weigh In

Several research firms have issued reports on META. Wolfe Research cut their price objective on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price objective on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Oppenheimer dropped their target price on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Barclays decreased their price target on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Finally, KeyCorp dropped their price objective on Meta Platforms from $575.00 to $555.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Two equities research 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $509.80.

Meta Platforms Trading Up 0.5 %

The business’s 50-day moving average price is $490.40 and its 200 day moving average price is $410.65. The firm has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.18 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

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

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 490 shares of the stock in a transaction that occurred on 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 directly owns 79,944 shares in the company, valued at approximately $39,015,070.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Meta Platforms news, insider Nicholas Clegg sold 2,025 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $958,392.00. Following the sale, the insider now owns 10,053 shares in the company, valued at $4,757,883.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Javier Olivan sold 490 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at approximately $39,015,070.32. The disclosure for this sale can be found here. Insiders sold a total of 1,222,926 shares of company stock worth $597,174,351 in the last 90 days. 13.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Meta Platforms

Several large investors have recently added to or reduced their stakes in META. S.A. Mason LLC lifted its holdings in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after acquiring an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN increased its position in Meta Platforms by 2.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after buying an additional 21 shares during the period. Hanson & Doremus Investment Management lifted its stake in Meta Platforms by 5.3% in the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock valued at $211,000 after buying an additional 22 shares during the last quarter. LongView Wealth Management boosted its holdings 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 acquiring an additional 22 shares during the period. Finally, Madison Wealth Partners Inc increased its holdings in shares of Meta Platforms by 1.6% in the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after acquiring an additional 23 shares during the period. 79.91% of the stock is currently owned by institutional investors.

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.