Meta Platforms (NASDAQ:META) Trading 1.4% Higher

Meta Platforms, Inc. (NASDAQ:META)’s share price traded up 1.4% during mid-day trading on Wednesday . The stock traded as high as $474.97 and last traded at $474.74. 4,370,764 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 18,134,877 shares. The stock had previously closed at $468.24.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on META shares. Barclays cut their price target on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Royal Bank of Canada cut their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Piper Sandler reissued an “overweight” rating and issued a $545.00 target price (down from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Truist Financial cut their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, UBS Group cut their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $509.80.

Meta Platforms Stock Performance

The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.18 and a beta of 1.21. The stock’s 50 day moving average is $490.03 and its 200 day moving average is $411.78.

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

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Mark Zuckerberg sold 34,398 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $469.69, for a total transaction of $16,156,396.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,223,416 shares of company stock valued at $597,392,856. 13.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds have recently made changes to their positions in META. Stone House Investment Management LLC grew its stake in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares during the period. Richardson Financial Services Inc. boosted its position in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares during the period. Quest Partners LLC purchased a new stake in Meta Platforms during the 4th quarter worth $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in Meta Platforms in the 1st quarter valued at $44,000. Finally, Clear Investment Research LLC raised its position in 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 purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 79.91% 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.