Deutsche Bank Aktiengesellschaft Lowers Meta Platforms (NASDAQ:META) Price Target to $500.00

Meta Platforms (NASDAQ:META) had its target price dropped by equities research analysts at Deutsche Bank Aktiengesellschaft from $540.00 to $500.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the social networking company’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 12.79% from the company’s current price.

A number of other equities research analysts have also recently commented on META. Stifel Nicolaus raised their price objective on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Truist Financial raised their price objective on shares of Meta Platforms from $525.00 to $550.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Barclays raised their price objective on shares of Meta Platforms from $400.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Piper Sandler reissued an “overweight” rating and issued a $545.00 price target (down previously from $600.00) on shares of Meta Platforms in a research note on Thursday. Finally, Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $509.18.

Meta Platforms Stock Performance

META opened at $443.29 on Thursday. Meta Platforms has a 12-month low of $229.85 and a 12-month high of $531.49. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.13 trillion, a PE ratio of 25.46, a P/E/G ratio of 1.26 and a beta of 1.20. The firm has a 50 day moving average of $494.48 and a two-hundred day moving average of $404.27.

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, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.37%. On average, analysts anticipate that Meta Platforms will post 20.18 EPS for the current year.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the transaction, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the transaction, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 65,600 shares of Meta Platforms stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $400.50, for a total value of $26,272,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,349,148 shares of company stock worth $649,552,559. Company insiders own 13.75% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

Several institutional investors have recently bought and sold shares of META. S.A. Mason LLC grew its position in shares of Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after buying an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN grew its position in shares of Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after buying an additional 21 shares in the last quarter. Hanson & Doremus Investment Management grew its position in shares of Meta Platforms by 5.3% during the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock worth $211,000 after buying an additional 22 shares in the last quarter. LongView Wealth Management grew its position in shares of Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after buying an additional 22 shares in the last quarter. Finally, Madison Wealth Partners Inc grew its position in shares of Meta Platforms by 1.6% during the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after buying an additional 23 shares in 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.