Meta Platforms (NASDAQ:META) PT Lowered to $480.00 at JPMorgan Chase & Co.

Meta Platforms (NASDAQ:META) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $535.00 to $480.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the social networking company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 2.74% from the stock’s current price.

META has been the topic of a number of other research reports. Jefferies Financial Group upped their price objective on shares of Meta Platforms from $550.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. The Goldman Sachs Group lowered their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays increased their price target on shares of Meta Platforms from $400.00 to $550.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Raymond James increased their price target on shares of Meta Platforms from $450.00 to $550.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 2nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $550.00 price objective on shares of Meta Platforms in a research note on Monday. One investment 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $513.43.

Meta Platforms Stock Down 0.5 %

Shares of NASDAQ:META opened at $493.50 on Thursday. Meta Platforms has a one year low of $207.13 and a one year high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67. The company has a market cap of $1.26 trillion, a price-to-earnings ratio of 33.12, a PEG ratio of 1.27 and a beta of 1.20. The firm has a fifty day moving average price of $495.93 and a two-hundred day moving average price of $403.14.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. Analysts anticipate that Meta Platforms will post 20.18 EPS for the current fiscal year.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the sale, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $393.85, for a total transaction of $7,751,361.85. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares in the company, valued at $20,043,756. The disclosure for this sale can be found here. Insiders sold a total of 1,368,244 shares of company stock worth $657,034,449 in the last ninety days. 13.75% of the stock is currently owned by insiders.

Institutional Trading of Meta Platforms

A number of large investors have recently bought and sold shares of META. Stone House Investment Management LLC grew its stake in shares of 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 worth $26,000 after acquiring an additional 75 shares in the last quarter. Quest Partners LLC bought a new position in shares of Meta Platforms in the fourth quarter worth $32,000. Kathleen S. Wright Associates Inc. bought a new position in Meta Platforms in the first quarter valued at about $44,000. Clear Investment Research LLC grew its position in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Finally, Gilfoyle & Co LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth about $39,000. 79.91% of the stock is owned by institutional investors.

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.