Meta Platforms (NASDAQ:META) PT Raised to $555.00 at The Goldman Sachs Group

Meta Platforms (NASDAQ:META) had its target price lifted by equities research analysts at The Goldman Sachs Group from $522.00 to $555.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the social networking company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 16.88% from the company’s current price.

Other analysts also recently issued research reports about the company. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research note on Wednesday, June 12th. Guggenheim cut their price objective on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Truist Financial decreased their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday. Finally, BNP Paribas assumed coverage on Meta Platforms in a report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $548.66.

Meta Platforms Stock Up 2.5 %

NASDAQ:META opened at $474.83 on Thursday. The company’s 50 day moving average is $493.25 and its two-hundred day moving average is $477.38. The company has a market cap of $1.20 trillion, a PE ratio of 27.27, a P/E/G ratio of 1.20 and a beta of 1.21. Meta Platforms has a twelve month low of $274.38 and a twelve month high of $542.81. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Insider Buying and Selling

In related news, insider Jennifer Newstead 905 shares of the company’s stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Sheryl Sandberg sold 105,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the sale, the director now owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead 905 shares of Meta Platforms stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. Over the last ninety days, insiders have sold 311,175 shares of company stock worth $154,616,712. Company insiders own 13.71% of the company’s stock.

Institutional Trading of Meta Platforms

Several institutional investors have recently modified their holdings of META. Norges Bank acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $11,285,855,000. International Assets Investment Management LLC increased its holdings in Meta Platforms by 11,154.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after acquiring an additional 4,908,251 shares in the last quarter. Capital Research Global Investors raised its position in Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after acquiring an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management lifted its holdings in shares of Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after purchasing an additional 3,888,308 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the last quarter. 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.