Meta Platforms (NASDAQ:META) PT Raised to $640.00 at JPMorgan Chase & Co.

Meta Platforms (NASDAQ:META) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $610.00 to $640.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the social networking company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 12.80% from the stock’s current price.

Other research analysts also recently issued reports about the company. Bank of America raised their price objective on Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday. TD Securities raised their price target on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Barclays upped their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price target on shares of Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, KeyCorp increased their price objective on shares of Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, August 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $591.23.

Meta Platforms Trading Down 0.1 %

NASDAQ META opened at $567.36 on Thursday. The stock has a market cap of $1.44 trillion, a PE ratio of 32.59, a PEG ratio of 1.39 and a beta of 1.21. Meta Platforms has a 12 month low of $279.40 and a 12 month high of $577.40. The company’s 50-day moving average price is $516.19 and its 200-day moving average price is $499.60. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.23 EPS. Equities research analysts forecast that Meta Platforms will post 21.36 earnings per share for the current year.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the transaction, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the sale, the chief executive officer now owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 342,358 shares of company stock valued at $179,431,101. Company insiders own 13.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in META. Quest Partners LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth $32,000. Clear Investment Research LLC grew its stake in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Delos Wealth Advisors LLC raised its holdings in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new position in Meta Platforms in the 2nd quarter worth approximately $38,000. Finally, Ruedi Wealth Management Inc. boosted its holdings in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

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.