Meta Platforms (NASDAQ:META) PT Lowered to $190.00

Meta Platforms (NASDAQ:METAGet Rating) had its price target lowered by equities research analysts at Royal Bank of Canada from $200.00 to $190.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm presently has a “maintains” rating on the social networking company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 19.64% from the company’s current price.

Other equities analysts also recently issued research reports about the company. MKM Partners decreased their target price on Meta Platforms from $295.00 to $240.00 and set a “maintains” rating for the company in a report on Thursday. Morgan Stanley decreased their target price on Meta Platforms from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Moffett Nathanson decreased their target price on Meta Platforms to $280.00 in a report on Thursday, May 26th. KeyCorp decreased their target price on Meta Platforms from $280.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Meta Platforms from $235.00 to $200.00 and set a “maintains” rating for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $256.11.

Meta Platforms Trading Down 6.4 %

META stock traded down $10.77 during midday trading on Thursday, hitting $158.81. The company had a trading volume of 1,591,170 shares, compared to its average volume of 33,784,645. Meta Platforms has a 52 week low of $154.25 and a 52 week high of $384.33. The stock’s 50 day moving average price is $174.33 and its 200 day moving average price is $210.44. The stock has a market cap of $429.79 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.32 and a beta of 1.40.

Meta Platforms (NASDAQ:METAGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The social networking company reported $2.46 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.08). Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. The company had revenue of $28.82 billion during the quarter, compared to the consensus estimate of $28.95 billion. During the same quarter in the previous year, the firm posted $3.61 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Analysts predict that Meta Platforms will post 11.22 earnings per share for the current year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 622 shares of the stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $210.78, for a total value of $131,105.16. Following the transaction, the insider now owns 12,498 shares of the company’s stock, valued at $2,634,328.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jennifer Newstead sold 622 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $210.78, for a total value of $131,105.16. Following the transaction, the insider now owns 12,498 shares of the company’s stock, valued at $2,634,328.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marne L. Levine sold 10,252 shares of the firm’s stock in a transaction dated Sunday, May 15th. The stock was 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 approximately $4,570,246.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,174 shares of company stock valued at $8,979,045. 13.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Meta Platforms by 1.2% during the fourth quarter. BlackRock Inc. now owns 158,101,319 shares of the social networking company’s stock worth $53,177,378,000 after purchasing an additional 1,909,538 shares in the last quarter. State Street Corp grew its position in shares of Meta Platforms by 2.0% during the fourth quarter. State Street Corp now owns 94,303,590 shares of the social networking company’s stock worth $31,719,012,000 after purchasing an additional 1,887,737 shares in the last quarter. Capital International Investors grew its position in shares of Meta Platforms by 4.4% during 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 purchasing an additional 2,281,759 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Meta Platforms by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 40,627,257 shares of the social networking company’s stock worth $13,629,910,000 after purchasing an additional 950,662 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $9,595,113,000. Institutional investors own 65.49% of the company’s stock.

Meta Platforms Company Profile

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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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