Meta Platforms (NASDAQ:META – Get Free Report)‘s stock had its “hold” rating reiterated by equities researchers at Benchmark in a research report issued on Thursday, Benzinga reports.
Several other analysts have also commented on META. Wells Fargo & Company increased their price objective on Meta Platforms from $593.00 to $625.00 and gave the company an “overweight” rating in a report on Monday, July 8th. The Goldman Sachs Group decreased their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. BNP Paribas began coverage on Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price objective for the company. Roth Mkm raised their target price on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Loop Capital restated a “buy” rating and issued a $550.00 target price on shares of Meta Platforms in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $521.48.
Check Out Our Latest Report on META
Meta Platforms Stock Down 0.5 %
Meta Platforms (NASDAQ:META – Get Free Report) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Research analysts anticipate that Meta Platforms will post 20.23 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, 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 owns 36,643 shares in the company, valued at $15,794,965.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, 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 value of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $474.86, for a total transaction of $195,642.32. Following the completion of the sale, the chief operating officer now directly owns 5,971 shares of the company’s stock, valued at $2,835,389.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 310,933 shares of company stock worth $154,451,206. Corporate insiders own 13.71% of the company’s stock.
Institutional Investors Weigh In On Meta Platforms
Institutional investors and hedge funds have recently made changes to their positions in the business. Quest Partners LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $32,000. Clear Investment Research LLC raised its holdings in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. Delos Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. Cranbrook Wealth Management LLC increased its stake in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares during the period. Finally, Gilfoyle & Co LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth about $39,000. 79.91% of the stock is owned by hedge funds and other institutional investors.
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.
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