Meta Platforms (NASDAQ:META) PT Raised to $600.00 at TD Securities

Meta Platforms (NASDAQ:META) had its price objective lifted by TD Securities from $530.00 to $600.00 in a report issued on Wednesday, BayStreet.CA reports. TD Securities’ price objective would indicate a potential upside of 11.55% from the stock’s current price.

A number of other analysts have also issued reports on META. Barclays lowered their target price on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Jefferies Financial Group cut their price objective on Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Piper Sandler reiterated an “overweight” rating and issued a $545.00 price objective (down previously from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group dropped their target price on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $515.64.

Meta Platforms Price Performance

META stock traded up $7.87 during trading hours on Wednesday, hitting $537.87. 6,339,311 shares of the stock traded hands, compared to its average volume of 16,140,034. The stock has a 50-day simple moving average of $488.29 and a 200 day simple moving average of $464.16. Meta Platforms has a one year low of $274.38 and a one year high of $542.81. The company has a market cap of $1.36 trillion, a P/E ratio of 30.83, a P/E/G ratio of 1.37 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Equities analysts forecast that Meta Platforms will post 20.15 earnings per share for the current year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $517.75, for a total value of $253,697.50. Following the completion of the transaction, the chief operating officer now directly owns 7,579 shares of the company’s stock, valued at approximately $3,924,027.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction on Friday, April 12th. The shares were sold at an average price of $517.75, for a total transaction of $253,697.50. Following the completion of the sale, the chief operating officer now directly owns 7,579 shares of the company’s stock, valued at approximately $3,924,027.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the sale, the insider now directly owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The disclosure for this sale can be found here. Insiders sold a total of 260,459 shares of company stock valued at $128,049,749 in the last three months. Company insiders own 13.71% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

Large investors have recently added to or reduced their stakes in the business. Quest Partners LLC bought a new stake in Meta Platforms during the fourth quarter worth about $32,000. Clear Investment Research LLC boosted its stake in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Delos Wealth Advisors LLC boosted its stake in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. Cranbrook Wealth Management LLC lifted its stake in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC bought a new position in shares of Meta Platforms in the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Company Profile

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.