Meta Platforms (NASDAQ:META) PT Lowered to $104.00

Meta Platforms (NASDAQ:METAGet Rating) had its price objective reduced by investment analysts at Rosenblatt Securities from $114.00 to $104.00 in a research report issued on Thursday, Marketbeat.com reports. The firm presently has a “neutral” rating on the social networking company’s stock. Rosenblatt Securities’ price target would suggest a potential downside of 7.98% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Guggenheim dropped their price objective on shares of Meta Platforms from $180.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, October 27th. Credit Suisse Group dropped their price objective on shares of Meta Platforms from $174.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, October 27th. Itaú Unibanco raised shares of Meta Platforms to an “outperform” rating and set a $102.00 price objective on the stock in a report on Monday, November 7th. Sanford C. Bernstein decreased their target price on shares of Meta Platforms from $195.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, October 27th. Finally, Atlantic Securities decreased their target price on shares of Meta Platforms to $120.00 in a research note on Thursday, October 27th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $170.64.

Meta Platforms Stock Performance

META opened at $113.02 on Thursday. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.08. The company has a market cap of $299.68 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 1.32 and a beta of 1.14. The company’s 50 day moving average is $132.05 and its 200 day moving average is $156.06. Meta Platforms has a 12-month low of $88.09 and a 12-month high of $353.83.

Insider Activity

In other news, CFO David M. Wehner sold 1,222 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $180.50, for a total transaction of $220,571.00. Following the completion of the sale, the chief financial officer now directly owns 14,660 shares of the company’s stock, valued at $2,646,130. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Susan J.S. Taylor sold 1,421 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $179.31, for a total transaction of $254,799.51. Following the completion of the sale, the chief accounting officer now directly owns 2,053 shares of the company’s stock, valued at $368,123.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David M. Wehner sold 1,222 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $180.50, for a total transaction of $220,571.00. Following the sale, the chief financial officer now directly owns 14,660 shares of the company’s stock, valued at $2,646,130. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,919 shares of company stock valued at $8,411,133. 13.59% of the stock is currently owned by company insiders.

Institutional Trading of Meta Platforms

Institutional investors and hedge funds have recently made changes to their positions in the company. Dravo Bay LLC bought a new stake in shares of Meta Platforms in the first quarter valued at about $31,000. Lansing Street Advisors bought a new stake in shares of Meta Platforms in the first quarter valued at about $45,000. Landmark Wealth Management LLC bought a new stake in shares of Meta Platforms in the first quarter valued at about $26,000. Hallmark Capital Management Inc. bought a new stake in shares of Meta Platforms in the second quarter valued at about $42,000. Finally, Foresight Capital Management Advisors Inc. raised its holdings in shares of Meta Platforms by 170.0% in the first quarter. Foresight Capital Management Advisors Inc. now owns 270 shares of the social networking company’s stock valued at $60,000 after acquiring an additional 170 shares in the last quarter. 61.70% of the stock is currently owned by institutional investors.

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.

Further Reading

Analyst Recommendations for Meta Platforms (NASDAQ:META)

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.