Meta Platforms (NASDAQ:META) Given New $575.00 Price Target at UBS Group

Meta Platforms (NASDAQ:META) had its target price lowered by equities research analysts at UBS Group from $610.00 to $575.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the social networking company’s stock. UBS Group’s price target points to a potential upside of 32.68% from the company’s previous close.

Several other equities analysts have also issued reports on META. Mizuho upped their target price on Meta Platforms from $470.00 to $575.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Roth Mkm upped their target price on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a report on Thursday. Wedbush reduced their target price on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a report on Thursday. Sanford C. Bernstein increased their price objective on Meta Platforms from $535.00 to $590.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Finally, KeyCorp reduced their price objective on Meta Platforms from $575.00 to $555.00 and set an “overweight” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $512.80.

Meta Platforms Stock Down 12.2 %

META traded down $60.12 during midday trading on Thursday, reaching $433.38. 43,803,629 shares of the company were exchanged, compared to its average volume of 17,654,738. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. The company’s fifty day moving average price is $495.93 and its 200 day moving average price is $403.14. The company has a market cap of $1.10 trillion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20. Meta Platforms has a one year low of $208.88 and a one year high of $531.49.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. As a group, analysts expect that Meta Platforms will post 20.18 EPS for the current year.

Insider Activity

In other news, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $394.76, for a total transaction of $7,769,271.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $394.76, for a total transaction of $7,769,271.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 10,956 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $5,185,255.68. Following the transaction, the chief financial officer now owns 76,398 shares in the company, valued at approximately $36,157,645.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,368,244 shares of company stock valued at $657,034,449. 13.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of META. Stone House Investment Management LLC increased its holdings in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the period. Beaird Harris Wealth Management LLC grew its holdings in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares during the period. Quest Partners LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $32,000. PayPay Securities Corp grew its holdings in shares of Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after acquiring an additional 43 shares during the period. Finally, Clear Investment Research LLC grew its holdings in shares of Meta Platforms by 411.1% during the 4th 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 during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

About Meta Platforms

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.