Meta Platforms (NASDAQ:FB) Price Target Lowered to $280.00 at Moffett Nathanson

Meta Platforms (NASDAQ:FBGet Rating) had its price objective reduced by equities researchers at Moffett Nathanson to $280.00 in a note issued to investors on Thursday, Stock Target Advisor reports. Moffett Nathanson’s price objective suggests a potential upside of 46.67% from the stock’s previous close.

A number of other analysts have also commented on FB. Susquehanna Bancshares cut their price objective on shares of Meta Platforms from $375.00 to $290.00 in a research report on Thursday, April 28th. Royal Bank of Canada lowered their target price on Meta Platforms from $245.00 to $240.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 13th. Morgan Stanley increased their price target on Meta Platforms from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, April 28th. KGI Securities reaffirmed a “neutral” rating and set a $270.00 price target on shares of Meta Platforms in a research report on Tuesday, February 8th. Finally, Bank of America cut their price objective on Meta Platforms from $410.00 to $333.00 and set a “buy” rating for the company in a report on Thursday, February 3rd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms has a consensus rating of “Buy” and an average target price of $312.24.

Shares of NASDAQ:FB traded up $7.08 during midday trading on Thursday, hitting $190.91. The company had a trading volume of 729,044 shares, compared to its average volume of 35,697,449. The firm has a fifty day simple moving average of $207.33 and a 200 day simple moving average of $260.78. The stock has a market cap of $516.66 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.21 and a beta of 1.37. Meta Platforms has a 12 month low of $169.00 and a 12 month high of $384.33.

Meta Platforms (NASDAQ:FBGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.06. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. During the same period in the prior year, the company earned $3.30 earnings per share. On average, sell-side analysts forecast that Meta Platforms will post 11.63 earnings per share for the current fiscal year.

In other news, CTO Andrew Bosworth sold 11,718 shares of the stock in a transaction dated Sunday, May 15th. The shares were sold at an average price of $198.62, for a total transaction of $2,327,429.16. Following the transaction, the chief technology officer now directly owns 11,913 shares in the company, valued at approximately $2,366,160.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Marne L. Levine sold 10,252 shares of the firm’s stock in a transaction dated Sunday, May 15th. The shares were sold at an average price of $198.62, for a total value of $2,036,252.24. Following the completion of the transaction, the insider now directly owns 23,010 shares in the company, valued at $4,570,246.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,100 shares of company stock valued at $9,279,275. Company insiders own 13.59% of the company’s stock.

Several hedge funds have recently bought and sold shares of FB. BlackRock Inc. raised its stake in shares of Meta Platforms by 1.2% in the 4th quarter. BlackRock Inc. now owns 158,101,319 shares of the social networking company’s stock valued at $53,177,378,000 after buying an additional 1,909,538 shares in the last quarter. State Street Corp boosted its stake in Meta Platforms by 2.0% during the 4th quarter. State Street Corp now owns 94,303,590 shares of the social networking company’s stock worth $31,719,012,000 after acquiring an additional 1,887,737 shares during the last quarter. Capital International Investors increased its holdings in shares of Meta Platforms by 4.4% in the first quarter. Capital International Investors now owns 54,050,797 shares of the social networking company’s stock worth $12,019,697,000 after acquiring an additional 2,281,759 shares in the last quarter. Capital World Investors lifted its stake in Meta Platforms by 0.4% in the third quarter. Capital World Investors now owns 46,286,895 shares of the social networking company’s stock valued at $15,709,316,000 after buying an additional 173,316 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Meta Platforms by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 40,627,257 shares of the social networking company’s stock valued at $13,629,910,000 after purchasing an additional 950,662 shares in the last quarter. Institutional investors and hedge funds own 65.49% 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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