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

Meta Platforms (NASDAQ:META) had its price target cut by investment analysts at Deutsche Bank Aktiengesellschaft from $540.00 to $500.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the social networking company’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 14.57% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Sanford C. Bernstein lifted their price target on shares of Meta Platforms from $535.00 to $590.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. KeyCorp reduced their price objective on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating for the company in a research report on Monday. Tigress Financial boosted their price objective on shares of Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 9th. Piper Sandler restated an “overweight” rating and set a $545.00 price objective (down previously from $600.00) on shares of Meta Platforms in a research report on Thursday. Finally, Canaccord Genuity Group reduced their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $511.05.

Meta Platforms Stock Down 11.6 %

Meta Platforms stock traded down $57.09 during trading on Thursday, reaching $436.41. The stock had a trading volume of 62,510,959 shares, compared to its average volume of 17,928,209. Meta Platforms has a 52-week low of $208.88 and a 52-week high of $531.49. The business has a 50 day moving average price of $495.93 and a 200 day moving average price of $403.14. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.11 trillion, a PE ratio of 29.43, a P/E/G ratio of 1.27 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. On average, analysts predict that Meta Platforms will post 20.18 EPS for the current year.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $394.76, for a total transaction of $7,769,271.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $394.76, for a total transaction of $7,769,271.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 490 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70. Following the sale, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The disclosure for this sale can be found here. Insiders have sold a total of 1,368,244 shares of company stock worth $657,034,449 in the last three months. Company insiders own 13.75% of the company’s stock.

Institutional Trading of Meta Platforms

Several large investors have recently bought and sold shares of the company. S.A. Mason LLC grew its position in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after acquiring an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN boosted its stake in shares of Meta Platforms by 2.0% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after buying an additional 21 shares during the last quarter. Hanson & Doremus Investment Management boosted its stake in shares of Meta Platforms by 5.3% during the 1st quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock valued at $211,000 after buying an additional 22 shares during the last quarter. LongView Wealth Management boosted its stake in shares of Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after buying an additional 22 shares during the last quarter. Finally, Madison Wealth Partners Inc lifted its stake in 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 purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds 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.