Meta Platforms, Inc. (NASDAQ:META – Get Rating) hit a new 52-week low during trading on Wednesday . The stock traded as low as $143.91 and last traded at $144.17, with a volume of 184271 shares traded. The stock had previously closed at $146.09.
Analyst Ratings Changes
Several research analysts have commented on META shares. Cowen dropped their price target on Meta Platforms from $300.00 to $275.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 13th. Wells Fargo & Company dropped their price target on Meta Platforms from $325.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. Barclays dropped their price target on Meta Platforms from $370.00 to $280.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 5th. UBS Group decreased their price objective on Meta Platforms from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Finally, Itau BBA Securities initiated coverage on Meta Platforms in a report on Friday, July 29th. They set a “market perform” rating and a $188.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $254.46.
Meta Platforms Stock Up 0.5 %
The business has a fifty day moving average of $165.12 and a 200 day moving average of $170.45. The firm has a market cap of $383.84 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.87 and a beta of 1.30.
Insider Activity at Meta Platforms
In other Meta Platforms news, CTO Andrew Bosworth sold 17,428 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $176.48, for a total value of $3,075,693.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, CFO David M. Wehner sold 1,222 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $180.50, for a total value of $220,571.00. Following the completion of the sale, the chief financial officer now directly owns 14,660 shares in the company, valued at $2,646,130. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 17,428 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $176.48, for a total value of $3,075,693.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,934 shares of company stock worth $8,511,112. 13.59% of the stock is owned by insiders.
Institutional Investors Weigh In On Meta Platforms
Large investors have recently modified their holdings of the business. Landmark Wealth Management LLC acquired a new position in shares of Meta Platforms during the first quarter worth about $26,000. Disciplined Investments LLC boosted its position in shares of Meta Platforms by 583.3% during the first quarter. Disciplined Investments LLC now owns 123 shares of the social networking company’s stock worth $27,000 after buying an additional 105 shares during the period. Rise Advisors LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth about $28,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in shares of Meta Platforms during the fourth quarter worth about $31,000. Finally, Dravo Bay LLC acquired a new position in shares of Meta Platforms during the first quarter worth about $31,000. 61.70% of the stock is currently owned by institutional investors.
Meta Platforms Company Profile
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.
- Get a free copy of the StockNews.com research report on Meta Platforms (META)
- What Steelcase’s Earnings Say About the Return to the Office?
- The Institutions Hold On To Darden Restaurants International
- Is The Golden Age Of Homebuilding Already Over?
- These 3 Big Dividend Payers Also Boast Strong Price Growth
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.