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Meta Platforms (NASDAQ:META – Get Free Report)‘s stock had its “underperform” rating reissued by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports.
Several other research analysts also recently issued reports on META. Tigress Financial reaffirmed a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research note on Monday, January 27th. Benchmark raised Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price target for the company in a research report on Thursday, January 30th. Guggenheim reduced their price objective on Meta Platforms from $750.00 to $675.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, DA Davidson dropped their price objective on Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $676.55.
Read Our Latest Report on META
Meta Platforms Price Performance
Shares of NASDAQ META opened at $533.15 on Wednesday. The company’s fifty day moving average is $590.37 and its two-hundred day moving average is $604.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market capitalization of $1.35 trillion, a P/E ratio of 22.29, a PEG ratio of 1.42 and a beta of 1.28. Meta Platforms has a one year low of $414.50 and a one year high of $740.91.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the firm earned $5.33 earnings per share. Analysts forecast that Meta Platforms will post 26.7 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Mark Zuckerberg sold 55,589 shares of Meta Platforms stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Susan J. Li sold 8,553 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $6,300,738.51. Following the sale, the chief financial officer now directly owns 51,793 shares in the company, valued at approximately $38,154,349.31. This trade represents a 14.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 308,068 shares of company stock worth $214,968,924 over the last quarter. 13.71% of the stock is owned by company insiders.
Institutional Investors Weigh In On Meta Platforms
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock valued at $111,948,344,000 after acquiring an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Meta Platforms by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock valued at $28,719,970,000 after purchasing an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Meta Platforms by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock worth $24,777,282,000 after buying an additional 1,049,121 shares in the last quarter. Capital World Investors raised its stake in shares of Meta Platforms by 2.9% in the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock worth $23,606,338,000 after buying an additional 1,141,355 shares in the last quarter. Finally, Norges Bank bought a new position in Meta Platforms during the fourth quarter valued at about $19,949,512,000. Institutional investors and hedge funds own 79.91% of the company’s stock.
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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