Meta Platforms (NASDAQ:META – Get Free Report) had its price target boosted by equities research analysts at Citigroup from $360.00 to $385.00 in a research report issued on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the social networking company’s stock. Citigroup’s price objective indicates a potential upside of 18.29% from the stock’s previous close.
A number of other equities analysts have also recently commented on META. Barclays increased their target price on Meta Platforms from $320.00 to $410.00 and gave the company an “overweight” rating in a report on Thursday. OTR Global upgraded Meta Platforms from a “mixed” rating to a “positive” rating in a research report on Tuesday, April 11th. Mizuho upped their price target on Meta Platforms from $280.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday. Evercore ISI upped their price target on Meta Platforms from $305.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, April 27th. Finally, Truist Financial upped their price target on Meta Platforms from $265.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $315.65.
Meta Platforms Price Performance
Shares of Meta Platforms stock opened at $325.48 on Thursday. The business has a 50 day simple moving average of $281.96 and a two-hundred day simple moving average of $223.07. Meta Platforms has a 12 month low of $88.09 and a 12 month high of $326.20. The stock has a market capitalization of $834.12 billion, a P/E ratio of 37.93, a PEG ratio of 1.11 and a beta of 1.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.07 and a quick ratio of 2.07.
Insider Activity
In other Meta Platforms news, insider Jennifer Newstead sold 375 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $231.08, for a total value of $86,655.00. Following the sale, the insider now directly owns 27,813 shares in the company, valued at $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 stock was sold at an average price of $231.08, for a total value of $86,655.00. Following the sale, the insider now directly owns 27,813 shares in the company, valued at $6,427,028.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Andrew Bosworth sold 8,032 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 value of $1,877,961.92. Following the completion of the sale, the chief technology officer now owns 8,166 shares in the company, valued at $1,909,292.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,723 shares of company stock worth $9,884,328. Corporate insiders own 13.75% of the company’s stock.
Hedge Funds Weigh In On Meta Platforms
Several hedge funds have recently made changes to their positions in the company. Riverpoint Wealth Management Holdings LLC purchased a new position in shares of Meta Platforms during the fourth quarter worth about $25,000. Ruedi Wealth Management Inc. purchased a new position in shares of Meta Platforms during the fourth quarter worth about $25,000. NewSquare Capital LLC purchased a new position in shares of Meta Platforms during the fourth quarter worth about $26,000. Arcadia Investment Management Corp MI purchased a new position in shares of Meta Platforms during the fourth quarter worth about $26,000. Finally, Worth Asset Management LLC grew its holdings in shares of Meta Platforms by 248.6% during the first quarter. Worth Asset Management LLC now owns 122 shares of the social networking company’s stock worth $26,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.
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.
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