Meta Platforms (NASDAQ:META – Get Free Report) was upgraded by HSBC from a “reduce” rating to a “hold” rating in a note issued to investors on Thursday, Marketbeat reports. The firm presently has a $285.00 target price on the social networking company’s stock. HSBC’s price objective indicates a potential downside of 12.44% from the company’s previous close.
A number of other brokerages have also commented on META. Evercore ISI lifted their price target on shares of Meta Platforms from $350.00 to $435.00 in a report on Thursday. Oppenheimer boosted their target price on shares of Meta Platforms from $350.00 to $385.00 in a report on Thursday. OTR Global upgraded shares of Meta Platforms from a “mixed” rating to a “positive” rating in a report on Tuesday, April 11th. Piper Sandler boosted their target price on shares of Meta Platforms from $310.00 to $365.00 in a report on Thursday. Finally, Citigroup upped their price objective on shares of Meta Platforms from $360.00 to $385.00 and gave the company a “buy” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, five have issued a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $315.65.
Meta Platforms Price Performance
Shares of NASDAQ:META opened at $325.48 on Thursday. The firm has a market cap of $834.12 billion, a PE ratio of 37.93, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19. The firm’s fifty day moving average is $281.96 and its 200-day moving average is $223.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.07 and a current ratio of 2.07. Meta Platforms has a 52 week low of $88.09 and a 52 week high of $326.20.
Insider Buying and Selling
In related news, insider Jennifer Newstead sold 375 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $231.08, for a total value of $86,655.00. Following the completion of the transaction, the insider now directly owns 27,813 shares of the company’s stock, valued at approximately $6,427,028.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Meta Platforms news, insider Jennifer Newstead sold 375 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $231.08, for a total value of $86,655.00. Following the completion of the transaction, the insider now directly owns 27,813 shares of the company’s stock, valued at approximately $6,427,028.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 7,640 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $233.81, for a total transaction of $1,786,308.40. Following the completion of the transaction, the chief operating officer now directly owns 75,659 shares of the company’s stock, valued at $17,689,830.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,723 shares of company stock valued at $9,884,328. Company insiders own 13.75% of the company’s stock.
Institutional Trading of Meta Platforms
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Little House Capital LLC raised its position in shares of Meta Platforms by 0.5% during the 2nd quarter. Little House Capital LLC now owns 6,443 shares of the social networking company’s stock valued at $1,849,000 after buying an additional 34 shares in the last quarter. McLean Asset Management Corp raised its position in Meta Platforms by 3.2% in the 2nd quarter. McLean Asset Management Corp now owns 1,127 shares of the social networking company’s stock worth $323,000 after purchasing an additional 35 shares during the period. Wells Trecaso Financial Group LLC raised its position in Meta Platforms by 1.1% in the 2nd quarter. Wells Trecaso Financial Group LLC now owns 3,255 shares of the social networking company’s stock worth $934,000 after purchasing an additional 37 shares during the period. Norway Savings Bank raised its position in Meta Platforms by 1.7% in the 2nd quarter. Norway Savings Bank now owns 2,331 shares of the social networking company’s stock worth $669,000 after purchasing an additional 40 shares during the period. Finally, Galvin Gaustad & Stein LLC raised its position in Meta Platforms by 2.0% in the 2nd quarter. Galvin Gaustad & Stein LLC now owns 2,039 shares of the social networking company’s stock worth $585,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 62.54% 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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