Meta Platforms (NASDAQ:META) PT Lowered to $550.00 at Loop Capital

Meta Platforms (NASDAQ:META) had its price target cut by Loop Capital from $555.00 to $550.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the social networking company’s stock.

Other analysts have also issued reports about the company. Needham & Company LLC reaffirmed an underperform rating on shares of Meta Platforms in a research report on Thursday, April 25th. The Goldman Sachs Group decreased their target price on Meta Platforms from $555.00 to $500.00 and set a buy rating for the company in a research report on Thursday, April 25th. Royal Bank of Canada decreased their target price on Meta Platforms from $600.00 to $570.00 and set an outperform rating for the company in a research report on Thursday, April 25th. Roth Mkm boosted their target price on Meta Platforms from $500.00 to $510.00 and gave the company a buy rating in a research report on Thursday, April 25th. Finally, Wolfe Research decreased their target price 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. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $509.80.

Meta Platforms Stock Up 2.3 %

Shares of NASDAQ:META opened at $451.96 on Wednesday. The company has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.14 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. The business’s 50-day moving average is $491.36 and its 200-day moving average is $407.43. Meta Platforms has a 1 year low of $229.85 and a 1 year high of $531.49.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Equities research analysts predict that Meta Platforms will post 20.1 earnings per share for the current year.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the sale, the insider now directly owns 38,398 shares of the company’s stock, valued at $20,043,756. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Meta Platforms news, insider Nicholas Clegg sold 2,025 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $958,392.00. Following the transaction, the insider now directly owns 10,053 shares in the company, valued at approximately $4,757,883.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the transaction, the insider now directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The disclosure for this sale can be found here. Insiders sold 1,257,876 shares of company stock valued at $613,168,252 in the last quarter. 13.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Meta Platforms

A number of institutional investors and hedge funds have recently bought and sold shares of META. S.A. Mason LLC grew its position 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 in the last quarter. Horizon Bancorp Inc. IN increased its position in shares of Meta Platforms by 2.0% during the 1st 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 during the last quarter. Hanson & Doremus Investment Management raised its holdings in shares of Meta Platforms by 5.3% during the 1st 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 in the last quarter. LongView Wealth Management lifted its position in Meta Platforms by 1.3% in the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after buying an additional 22 shares during the last quarter. Finally, Madison Wealth Partners Inc boosted its stake in Meta Platforms by 1.6% in the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after buying an additional 23 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other 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.