Meta Platforms, Inc. (NASDAQ:FB – Get Rating)’s stock price gapped down before the market opened on Tuesday after Jefferies Financial Group lowered their price target on the stock from $330.00 to $310.00. The stock had previously closed at $196.23, but opened at $182.60. Meta Platforms shares last traded at $177.75, with a volume of 656,498 shares changing hands.
FB has been the subject of a number of other reports. Raymond James dropped their price target on Meta Platforms from $340.00 to $290.00 in a research note on Thursday, April 28th. Canaccord Genuity Group reduced their price target on Meta Platforms from $360.00 to $330.00 in a report on Thursday, April 28th. Sanford C. Bernstein reduced their price objective on Meta Platforms from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Thursday, February 3rd. Barclays reduced their price objective on Meta Platforms from $420.00 to $350.00 and set an “overweight” rating on the stock in a report on Thursday, February 3rd. Finally, Oppenheimer cut their price target on Meta Platforms from $405.00 to $375.00 and set an “outperform” rating on the stock in a report on Thursday, February 3rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $314.41.
In other Meta Platforms news, insider Nicholas Clegg sold 6,425 shares of Meta Platforms stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $202.16, for a total value of $1,298,878.00. Following the transaction, the insider now owns 9,596 shares in the company, valued at approximately $1,939,927.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 330 shares of Meta Platforms stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $186.63, for a total transaction of $61,587.90. Following the completion of the transaction, the insider now owns 13,120 shares in the company, valued at approximately $2,448,585.60. The disclosure for this sale can be found here. Insiders sold a total of 45,758 shares of company stock valued at $9,217,533 over the last ninety days. 13.59% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of FB. OLD Mission Capital LLC acquired a new position in shares of Meta Platforms during the 3rd quarter valued at $251,000. New World Advisors LLC lifted its holdings in shares of Meta Platforms by 170.8% during the 3rd quarter. New World Advisors LLC now owns 2,248 shares of the social networking company’s stock valued at $730,000 after acquiring an additional 1,418 shares in the last quarter. Bellwether Advisors LLC lifted its holdings in shares of Meta Platforms by 270.0% during the 3rd quarter. Bellwether Advisors LLC now owns 407 shares of the social networking company’s stock valued at $138,000 after acquiring an additional 297 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in shares of Meta Platforms during the 3rd quarter valued at $2,503,000. Finally, Qtron Investments LLC lifted its holdings in Meta Platforms by 12.9% in the 3rd quarter. Qtron Investments LLC now owns 16,440 shares of the social networking company’s stock worth $5,580,000 after buying an additional 1,874 shares in the last quarter. Institutional investors and hedge funds own 65.49% of the company’s stock.
The stock has a market cap of $481.86 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 1.21 and a beta of 1.37. The business’s fifty day simple moving average is $208.26 and its 200 day simple moving average is $262.44.
Meta Platforms (NASDAQ:FB – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The social networking company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.06. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. During the same period last year, the company posted $3.30 EPS. On average, research analysts anticipate that Meta Platforms, Inc. will post 11.63 earnings per share for the current fiscal year.
About Meta Platforms (NASDAQ:FB)
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.
