Insider Selling: Meta Platforms, Inc. (NASDAQ:META) CEO Sells 13,793 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $730.47, for a total transaction of $10,075,372.71. Following the completion of the sale, the chief executive officer owned 29,947 shares of the company's stock, valued at approximately $21,875,385.09. This represents a 31.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mark Zuckerberg also recently made the following trade(s):

• On Wednesday, June 25th, Mark Zuckerberg sold 13,793 shares of Meta Platforms stock. The stock was sold at an average price of $710.24, for a total transaction of $9,796,340.32.
• On Friday, June 20th, Mark Zuckerberg sold 500 shares of Meta Platforms stock. The shares were sold at an average price of $700.38, for a total value of $350,190.00.
• On Monday, June 16th, Mark Zuckerberg sold 13,793 shares of Meta Platforms stock. The stock was sold at an average price of $702.06, for a total value of $9,683,513.58.
• On Tuesday, June 17th, Mark Zuckerberg sold 8,312 shares of Meta Platforms stock. The shares were sold at an average price of $702.13, for a total value of $5,836,104.56.
• On Wednesday, June 18th, Mark Zuckerberg sold 2,753 shares of Meta Platforms stock. The stock was sold at an average price of $700.43, for a total transaction of $1,928,283.79.
• On Monday, June 9th, Mark Zuckerberg sold 7,466 shares of Meta Platforms stock. The stock was sold at an average price of $701.25, for a total value of $5,235,532.50.
• On Tuesday, June 10th, Mark Zuckerberg sold 13,793 shares of Meta Platforms stock. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09.
• On Wednesday, June 11th, Mark Zuckerberg sold 7,802 shares of Meta Platforms stock. The shares were sold at an average price of $701.96, for a total transaction of $5,476,691.92.
• On Friday, June 6th, Mark Zuckerberg sold 1,462 shares of Meta Platforms stock. The stock was sold at an average price of $701.13, for a total value of $1,025,052.06.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded up $4.46 during trading on Monday, hitting $738.09. The company's stock had a trading volume of 15,384,528 shares, compared to its average volume of 14,542,868. The company has a 50-day moving average of $638.51 and a 200-day moving average of $626.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a market cap of $1.86 trillion, a price-to-earnings ratio of 28.79, a P/E/G ratio of 1.80 and a beta of 1.26. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $748.69.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period in the prior year, the business posted $4.71 EPS. Meta Platforms's revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.28%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Analyst Ratings Changes

META has been the subject of several recent analyst reports. Susquehanna reduced their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. UBS Group restated a "buy" rating and set a $812.00 target price (up from $683.00) on shares of Meta Platforms in a research report on Thursday. DA Davidson cut their price objective on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. Loop Capital increased their price target on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, KeyCorp upped their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $719.52.

Institutional Investors Weigh In On Meta Platforms

Several hedge funds and other institutional investors have recently added to or reduced their stakes in META. Suvretta Capital Management LLC boosted its holdings in Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after buying an additional 1,850 shares during the period. Skye Global Management LP lifted its position in shares of Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after acquiring an additional 43,200 shares in the last quarter. Brueske Advisory Services LLC purchased a new position in shares of Meta Platforms in the fourth quarter valued at about $459,000. Kovitz Investment Group Partners LLC boosted its stake in shares of Meta Platforms by 255.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after acquiring an additional 1,229,350 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Meta Platforms by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock worth $3,908,382,000 after purchasing an additional 110,040 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

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.

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