Stifel Nicolaus Cuts Meta Platforms (NASDAQ:META) Price Target to $185.00

Meta Platforms (NASDAQ:METAGet Rating) had its target price lowered by Stifel Nicolaus from $230.00 to $185.00 in a report released on Thursday morning, The Fly reports. Stifel Nicolaus currently has a buy rating on the social networking company’s stock.

A number of other equities analysts also recently issued reports on the stock. Barclays dropped their price objective on shares of Meta Platforms from $250.00 to $165.00 and set an overweight rating on the stock in a research note on Thursday. Atlantic Securities downgraded shares of Meta Platforms from an overweight rating to a neutral rating and set a $160.00 target price for the company. in a research note on Tuesday, October 11th. Credit Suisse Group lowered their target price on shares of Meta Platforms from $174.00 to $145.00 and set an outperform rating for the company in a research note on Thursday. Wells Fargo & Company lowered their target price on shares of Meta Platforms from $275.00 to $165.00 in a research note on Thursday. Finally, DZ Bank downgraded shares of Meta Platforms from a hold rating to a sell rating and set a $140.00 target price for the company. in a research note on Tuesday, August 2nd. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $177.43.

Meta Platforms Price Performance

NASDAQ META opened at $99.20 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.52 and a current ratio of 2.57. The firm’s 50 day moving average price is $144.00 and its 200-day moving average price is $160.22. Meta Platforms has a 52-week low of $96.38 and a 52-week high of $353.83. The company has a market cap of $266.60 billion, a PE ratio of 9.46, a P/E/G ratio of 1.15 and a beta of 1.32.

Insider Activity

In other news, insider Jennifer Newstead sold 342 shares of Meta Platforms stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $158.14, for a total value of $54,083.88. Following the sale, the insider now owns 16,721 shares in the company, valued at $2,644,258.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CTO Andrew Bosworth sold 11,718 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $180.50, for a total transaction of $2,115,099.00. Following the transaction, the chief technology officer now directly owns 14,671 shares in the company, valued at $2,648,115.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 342 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $158.14, for a total transaction of $54,083.88. Following the transaction, the insider now owns 16,721 shares in the company, valued at $2,644,258.94. The disclosure for this sale can be found here. Insiders have sold a total of 47,934 shares of company stock worth $8,459,306 over the last 90 days. 13.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Meta Platforms

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Disciplined Investments LLC boosted its holdings in Meta Platforms by 583.3% in the 1st quarter. Disciplined Investments LLC now owns 123 shares of the social networking company’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Dravo Bay LLC acquired a new position in Meta Platforms in the 1st quarter valued at about $31,000. TFO TDC LLC acquired a new position in Meta Platforms in the 1st quarter valued at about $45,000. New England Professional Planning Group Inc. acquired a new position in Meta Platforms in the 1st quarter valued at about $359,000. Finally, Lansing Street Advisors acquired a new position in Meta Platforms in the 1st quarter valued at about $45,000. 61.70% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Company Profile

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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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