Meta Platforms (NASDAQ:META) Stock Price Down 2.3% – Time to Sell?

Meta Platforms, Inc. (NASDAQ:META) shares were down 2.3% on Monday . The stock traded as low as $559.81 and last traded at $563.85. Approximately 15,229,022 shares were traded during trading, a decline of 7% from the average session volume of 16,349,012 shares. The stock had previously closed at $577.22.

Meta Platforms News Summary

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta is drawing bullish attention from Wall Street, with one report saying analysts’ average 12-month price target implies more than 40% upside and Evercore ISI recently reiterating a Buy rating. Wall Street Sees More Than 40% Upside for Meta Platforms (META)
• Positive Sentiment: Meta is expanding its India strategy by appointing CRED founder Kunal Shah to lead WhatsApp and investing $900 million in CRED, signaling continued commitment to growth in a key market. Meta’s WhatsApp to be led by Indian startup founder Kunal Shah
• Positive Sentiment: Several market commentary pieces framed Meta’s recent decline as an attractive long-term buying opportunity, with investors arguing the stock has been oversold alongside other megacap tech names. The Magnificent 7 Selloff Is a Rare Buying Opportunity
• Positive Sentiment: Meta is also trying to broaden engagement beyond mobile, with new Instagram-for-TV features aimed at competing for streaming/viewer attention on television screens. Meta Takes on Streaming Giants With New ‘Instagram for TV’ Offerings

Wall Street Analyst Weigh In

Several analysts have commented on META shares. Stifel Nicolaus decreased their price target on shares of Meta Platforms from $805.00 to $780.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Erste Group Bank lowered Meta Platforms from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. KeyCorp reaffirmed an “overweight” rating and issued a $760.00 target price on shares of Meta Platforms in a report on Thursday, April 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $725.00 target price (down from $825.00) on shares of Meta Platforms in a report on Thursday, April 30th. Finally, Barclays increased their price target on Meta Platforms from $800.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $840.60.

Meta Platforms Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. The business has a 50-day moving average of $621.27 and a 200-day moving average of $634.10. The company has a market capitalization of $1.43 trillion, a P/E ratio of 20.50, a P/E/G ratio of 1.02 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating analysts’ consensus estimates of $6.67 by $3.77. The firm had revenue of $56.31 billion for the quarter, compared to analysts’ expectations of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The company’s quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.43 earnings per share. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms’s payout ratio is presently 7.63%.

Insider Activity

In other news, COO Javier Olivan sold 2,778 shares of the company’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $629.45, for a total transaction of $1,748,612.10. Following the transaction, the chief operating officer owned 10,557 shares in the company, valued at $6,645,103.65. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,847 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the completion of the transaction, the chief technology officer directly owned 414 shares in the company, valued at approximately $251,641.62. The trade was a 94.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 39,013 shares of company stock valued at $24,115,999 over the last three months. Company insiders own 13.53% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

Several hedge funds have recently added to or reduced their stakes in META. Brighton Jones LLC increased its position in shares of Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after buying an additional 570 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after buying an additional 875 shares in the last quarter. Headwater Capital Co Ltd grew its stake in Meta Platforms by 294.7% in the 1st quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock valued at $86,454,000 after acquiring an additional 112,000 shares during the period. Dymon Asia Capital Singapore PTE. LTD. acquired a new stake in Meta Platforms in the 2nd quarter valued at $213,000. Finally, Capital & Planning LLC purchased a new stake in Meta Platforms in the 2nd quarter worth $322,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Company Profile

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.