Meta Platforms, Inc. (NASDAQ:META - Get Free Report) insider Jennifer Newstead sold 519 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $635.50, for a total transaction of $329,824.50. Following the completion of the sale, the insider now owns 30,740 shares of the company's stock, valued at $19,535,270. This trade represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Jennifer Newstead also recently made the following trade(s):
- On Friday, May 16th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The stock was sold at an average price of $636.72, for a total transaction of $330,457.68.
- On Tuesday, May 13th, Jennifer Newstead sold 907 shares of Meta Platforms stock. The shares were sold at an average price of $645.77, for a total transaction of $585,713.39.
- On Tuesday, May 6th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $592.52, for a total value of $545,710.92.
- On Tuesday, April 29th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $545.17, for a total value of $502,101.57.
- On Tuesday, April 22nd, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $491.87, for a total value of $453,012.27.
- On Tuesday, April 15th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $531.22, for a total value of $489,253.62.
- On Tuesday, April 8th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $543.39, for a total transaction of $500,462.19.
- On Tuesday, April 1st, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $570.66, for a total transaction of $525,577.86.
- On Tuesday, March 25th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $627.05, for a total transaction of $577,513.05.
- On Tuesday, March 18th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $600.25, for a total value of $552,830.25.
Meta Platforms Stock Down 1.5%
Shares of Meta Platforms stock traded down $9.51 during trading hours on Monday, hitting $627.06. The company had a trading volume of 8,442,469 shares, compared to its average volume of 14,494,704. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company's 50-day moving average is $575.66 and its two-hundred day moving average is $609.55. The company has a market cap of $1.58 trillion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.71 earnings per share. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Institutional Trading of Meta Platforms
A number of large investors have recently made changes to their positions in META. Inlight Wealth Management LLC purchased a new position in shares of Meta Platforms during the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Meta Platforms during the 1st quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Meta Platforms in the 1st quarter valued at approximately $33,000. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $40,000. Finally, WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $43,000. 79.91% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently commented on META. Guggenheim upped their price target on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. DA Davidson lowered their target price on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Citigroup boosted their price target on shares of Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of Meta Platforms from $610.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, Roth Capital boosted their target price on Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $701.05.
Get Our Latest Analysis on META
About Meta Platforms
(
Get Free Report)
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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