Meta Platforms (NASDAQ:META) Price Target Increased to $615.00 by Analysts at Oppenheimer

Meta Platforms (NASDAQ:META) had its price objective lifted by analysts at Oppenheimer from $525.00 to $615.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the social networking company’s stock. Oppenheimer’s target price would indicate a potential upside of 29.52% from the stock’s previous close.

Other research analysts have also issued reports about the company. TD Securities lifted their price objective on Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Jefferies Financial Group raised their target price on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday. Wolfe Research began coverage on Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target on the stock. Sanford C. Bernstein raised their price objective on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Thursday. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $548.66.

Meta Platforms Stock Up 2.5 %

Shares of NASDAQ META opened at $474.83 on Thursday. The company’s 50 day moving average price is $493.25 and its 200-day moving average price is $477.38. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms has a 52-week low of $274.38 and a 52-week high of $542.81. The company has a market capitalization of $1.20 trillion, a P/E ratio of 27.27, a price-to-earnings-growth ratio of 1.20 and a beta of 1.21.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,011 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the transaction, the chief executive officer now owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Mark Zuckerberg sold 2,011 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the transaction, the chief executive officer now directly owns 318,932 shares in the company, valued at approximately $159,759,417.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $445.93, for a total transaction of $218,505.70. Following the sale, the chief operating officer now owns 6,109 shares of the company’s stock, valued at $2,724,186.37. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,175 shares of company stock valued at $154,616,712. 13.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Meta Platforms in the 4th quarter worth about $11,285,855,000. International Assets Investment Management LLC boosted its stake in Meta Platforms by 11,154.4% during the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after acquiring an additional 4,908,251 shares in the last quarter. Capital Research Global Investors grew its holdings in Meta Platforms by 17.2% in 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 purchasing an additional 4,440,229 shares during the period. Concentrum Wealth Management increased its stake in shares of Meta Platforms by 111.0% during 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. lifted its holdings in shares of Meta Platforms by 1.7% during 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. 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.