Meta Platforms, Inc. (NASDAQ:META) CFO Susan J. Li Sells 6,874 Shares

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) CFO Susan J. Li sold 6,874 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Meta Platforms Price Performance

Shares of NASDAQ:META traded up $0.09 during trading hours on Monday, hitting $640.43. 9,560,069 shares of the company's stock traded hands, compared to its average volume of 14,526,495. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The company's fifty day simple moving average is $571.79 and its two-hundred day simple moving average is $607.61. The company has a market cap of $1.61 trillion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results 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 net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same period last year, the company posted $4.71 earnings per share. The business's revenue for the quarter was up 16.1% on a year-over-year basis. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. KeyCorp increased their price objective on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Roth Capital increased their target price on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Raymond James dropped their target price on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a report on Thursday, May 1st. Pivotal Research dropped their target price on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, UBS Group increased their target price on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a 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 issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus target price of $701.05.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Inlight Wealth Management LLC acquired a new position in shares of Meta Platforms in the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Meta Platforms in the first quarter worth about $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Meta Platforms in the first quarter worth about $33,000. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth approximately $40,000. Finally, WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth approximately $43,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

About Meta Platforms

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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