Meta Platforms (NASDAQ:FB – Get Rating) had its price objective decreased by equities researchers at Canaccord Genuity Group from $360.00 to $330.00 in a research note issued to investors on Thursday, The Fly reports. Canaccord Genuity Group’s target price points to a potential upside of 88.63% from the stock’s previous close.
A number of other equities research analysts have also recently commented on the stock. Wolfe Research dropped their price objective on shares of Meta Platforms from $410.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, February 3rd. Rosenblatt Securities started coverage on shares of Meta Platforms in a report on Tuesday, April 19th. They issued a “neutral” rating and a $228.00 price objective for the company. Jefferies Financial Group lowered their target price on shares of Meta Platforms from $420.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday, February 3rd. Robert W. Baird cut their price target on Meta Platforms from $390.00 to $325.00 and set an “outperform” rating for the company in a research note on Thursday, February 3rd. Finally, Truist Financial lowered their price target on Meta Platforms from $350.00 to $320.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $317.24.
Shares of Meta Platforms stock opened at $174.95 on Thursday. The stock has a market cap of $476.20 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.15 and a beta of 1.39. The firm has a fifty day moving average price of $207.88 and a 200 day moving average price of $278.80. Meta Platforms has a 1 year low of $169.00 and a 1 year high of $384.33.
In other news, CAO Susan J.S. Taylor sold 2,272 shares of the stock in a transaction dated Thursday, February 17th. The shares were sold at an average price of $214.00, for a total transaction of $486,208.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 121 shares of the stock in a transaction dated Tuesday, February 8th. The stock was sold at an average price of $220.57, for a total transaction of $26,688.97. The disclosure for this sale can be found here. Insiders have sold a total of 7,751 shares of company stock valued at $1,669,746 in the last ninety days. 14.01% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the business. Widmann Financial Services Inc. purchased a new position in Meta Platforms in the fourth quarter worth approximately $100,000. Steigerwald Gordon & Koch Inc. lifted its position in shares of Meta Platforms by 4.1% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,012 shares of the social networking company’s stock worth $677,000 after purchasing an additional 80 shares during the last quarter. Evergreen Capital Management LLC grew its stake in shares of Meta Platforms by 6.2% during the third quarter. Evergreen Capital Management LLC now owns 40,602 shares of the social networking company’s stock worth $13,780,000 after purchasing an additional 2,357 shares in the last quarter. Colony Group LLC increased its holdings in Meta Platforms by 13.7% in the third quarter. Colony Group LLC now owns 27,256 shares of the social networking company’s stock valued at $9,250,000 after buying an additional 3,287 shares during the last quarter. Finally, Cordatus Wealth Management LLC acquired a new stake in Meta Platforms in the third quarter valued at $2,921,000. Institutional investors and hedge funds own 65.64% of the company’s stock.
About Meta Platforms (Get Rating)
Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
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