Morgan Stanley Increases Meta Platforms (NASDAQ:META) Price Target to $575.00

Meta Platforms (NASDAQ:META) had its price target lifted by equities researchers at Morgan Stanley from $550.00 to $575.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the social networking company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 21.10% from the stock’s current price.

Several other equities analysts have also weighed in on the company. JPMorgan Chase & Co. cut their target price on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. TD Cowen raised their price target on Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Citigroup dropped their price target on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Barclays dropped their price target on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Finally, Raymond James lifted their target price on Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $548.66.

Meta Platforms Price Performance

Meta Platforms stock opened at $474.83 on Thursday. Meta Platforms has a 12-month low of $274.38 and a 12-month high of $542.81. The business’s 50-day simple moving average is $493.25 and its 200 day simple moving average is $477.38. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.20 trillion, a price-to-earnings ratio of 27.27, a P/E/G ratio of 1.20 and a beta of 1.21.

Insider Buying and Selling

In related news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the sale, the chief operating officer now owns 15,376 shares in the company, valued at approximately $7,268,235.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Nicholas Clegg sold 1,135 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $535,549.75. Following the sale, the insider now owns 8,753 shares in the company, valued at approximately $4,130,103.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 412 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the transaction, the chief operating officer now directly owns 15,376 shares in the company, valued at $7,268,235.20. The disclosure for this sale can be found here. Insiders have sold 311,175 shares of company stock worth $154,616,712 in the last 90 days. Insiders own 13.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Colonial River Wealth Management LLC raised its stake in shares of Meta Platforms by 85.4% in the fourth quarter. Colonial River Wealth Management LLC now owns 4,629 shares of the social networking company’s stock worth $1,638,000 after purchasing an additional 2,132 shares during the last quarter. ERTS Wealth Advisors LLC increased its position in shares of Meta Platforms by 1.8% during the 4th quarter. ERTS Wealth Advisors LLC now owns 1,769 shares of the social networking company’s stock valued at $626,000 after purchasing an additional 32 shares during the last quarter. Independence Bank of Kentucky boosted its holdings in shares of Meta Platforms by 0.9% in the 4th quarter. Independence Bank of Kentucky now owns 12,191 shares of the social networking company’s stock worth $4,315,000 after buying an additional 110 shares during the last quarter. Arcadia Wealth Management LLC bought a new position in Meta Platforms during the fourth quarter valued at about $225,000. Finally, Parcion Private Wealth LLC increased its holdings in Meta Platforms by 2.5% during the fourth quarter. Parcion Private Wealth LLC now owns 2,658 shares of the social networking company’s stock worth $941,000 after buying an additional 64 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

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.