Meta Platforms (NASDAQ:META) PT Lowered to $600.00 at Wells Fargo & Company

Meta Platforms (NASDAQ:METAGet Free Report) had its target price decreased by stock analysts at Wells Fargo & Company from $609.00 to $600.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the social networking company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 18.81% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Oppenheimer raised their target price on shares of Meta Platforms from $385.00 to $525.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Canaccord Genuity Group raised their target price on shares of Meta Platforms from $450.00 to $540.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Citigroup raised their target price on shares of Meta Platforms from $440.00 to $525.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Tigress Financial raised their price objective on shares of Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a report on Friday, February 9th. Finally, TD Cowen raised their price objective on shares of Meta Platforms from $415.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $496.13.

View Our Latest Stock Report on META

Meta Platforms Stock Up 1.5 %

Shares of NASDAQ META traded up $7.62 during midday trading on Wednesday, hitting $504.99. The company’s stock had a trading volume of 6,342,906 shares, compared to its average volume of 17,484,664. The business’s fifty day simple moving average is $473.50 and its two-hundred day simple moving average is $381.00. The firm has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 33.92, a price-to-earnings-growth ratio of 1.26 and a beta of 1.20. Meta Platforms has a 1 year low of $207.13 and a 1 year high of $523.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating the consensus estimate of $4.82 by $0.51. The firm had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The firm’s revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.00 earnings per share. On average, equities analysts predict that Meta Platforms will post 19.94 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $351.47, for a total value of $6,917,281.07. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $351.47, for a total value of $6,917,281.07. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 566 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $356.40, for a total transaction of $201,722.40. Following the completion of the sale, the insider now owns 36,418 shares in the company, valued at $12,979,375.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,502,805 shares of company stock worth $703,056,383. Corporate insiders own 14.03% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

Several institutional investors and hedge funds have recently made changes to their positions in META. Signify Wealth acquired a new position in Meta Platforms in the 4th quarter valued at about $228,000. Investment Research & Advisory Group Inc. raised its stake in Meta Platforms by 1.5% in the 4th quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock valued at $3,880,000 after purchasing an additional 164 shares during the last quarter. Keel Point LLC raised its stake in Meta Platforms by 6.3% in the 3rd quarter. Keel Point LLC now owns 6,690 shares of the social networking company’s stock valued at $2,008,000 after purchasing an additional 399 shares during the last quarter. Syntegra Private Wealth Group LLC acquired a new position in Meta Platforms in the 4th quarter valued at about $269,000. Finally, AFT Forsyth & Company Inc. raised its stake in Meta Platforms by 5.6% in the 3rd quarter. AFT Forsyth & Company Inc. now owns 4,149 shares of the social networking company’s stock valued at $1,246,000 after purchasing an additional 220 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

About Meta Platforms

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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.

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