Meta Platforms (NASDAQ:META) Hits New 1-Year Low at $158.14

Shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) hit a new 52-week low on Tuesday . The stock traded as low as $158.14 and last traded at $159.14, with a volume of 884600 shares traded. The stock had previously closed at $163.74.

A number of research analysts have issued reports on META shares. BMO Capital Markets decreased their target price on Meta Platforms from $290.00 to $225.00 in a research report on Friday, April 22nd. Piper Sandler lowered their price objective on shares of Meta Platforms from $230.00 to $220.00 and set a “neutral” rating for the company in a research report on Thursday, June 2nd. MKM Partners cut their target price on shares of Meta Platforms from $315.00 to $295.00 in a research report on Thursday, April 28th. Jefferies Financial Group lowered their price target on shares of Meta Platforms from $330.00 to $310.00 in a report on Tuesday, May 24th. Finally, Wedbush cut their price objective on Meta Platforms from $270.00 to $220.00 in a report on Thursday, April 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $305.87.

The firm has a market capitalization of $421.78 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37. The company’s 50 day moving average is $190.82 and its 200-day moving average is $239.46.

Meta Platforms (NASDAQ:METAGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The social networking company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.18. The firm had revenue of $27.91 billion for the quarter, compared to analyst estimates of $28.21 billion. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. During the same quarter in the prior year, the business earned $3.30 earnings per share. On average, equities analysts predict that Meta Platforms, Inc. will post 11.63 EPS for the current fiscal year.

In other Meta Platforms news, insider Jennifer Newstead sold 476 shares of the company’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $226.24, for a total transaction of $107,690.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David M. Wehner sold 1,222 shares of Meta Platforms stock in a transaction dated Sunday, May 15th. The shares were sold at an average price of $198.62, for a total transaction of $242,713.64. Following the transaction, the chief financial officer now owns 12,247 shares of the company’s stock, valued at $2,432,499.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,698 shares of company stock worth $9,181,081. Corporate insiders own 13.59% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Landmark Wealth Management LLC purchased a new stake in Meta Platforms in the 1st quarter valued at about $26,000. Disciplined Investments LLC grew its holdings in shares of Meta Platforms by 583.3% in the first quarter. Disciplined Investments LLC now owns 123 shares of the social networking company’s stock valued at $27,000 after acquiring an additional 105 shares in the last quarter. Barnett & Company Inc. grew its holdings in shares of Meta Platforms by 105.0% in the fourth quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock valued at $28,000 after acquiring an additional 42 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $28,000. Finally, Comprehensive Financial Consultants Institutional Inc. purchased a new position in Meta Platforms in the fourth quarter worth $31,000. Institutional investors own 65.49% of the company’s stock.

About Meta Platforms (NASDAQ:META)

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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