Meta Platforms, Inc. (NASDAQ:META) Director Sells $298,418.75 in Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) Director Robert M. Kimmitt sold 475 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $628.25, for a total value of $298,418.75. Following the transaction, the director now directly owns 10,272 shares in the company, valued at approximately $6,453,384. This represents a 4.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Meta Platforms Stock Performance

NASDAQ META traded down $1.60 during trading on Wednesday, reaching $635.50. The company's stock had a trading volume of 11,441,033 shares, compared to its average volume of 14,505,371. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The firm has a 50 day moving average price of $572.72 and a 200 day moving average price of $607.81.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $41.45 billion. During the same quarter in the prior year, the firm posted $4.71 EPS. The firm's quarterly revenue 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.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on META. Guggenheim increased their price target on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Stifel Nicolaus increased their price target on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Cantor Fitzgerald raised their price objective on Meta Platforms from $624.00 to $676.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Evercore ISI raised their price objective on Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their price objective on Meta Platforms from $610.00 to $675.00 and gave the company an "overweight" 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 issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus price target of $701.05.

Hedge Funds Weigh In On Meta Platforms

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Regent Peak Wealth Advisors LLC increased its position in shares of Meta Platforms by 5.8% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company's stock worth $2,939,000 after buying an additional 277 shares during the period. Fjell Capital LLC acquired a new stake in Meta Platforms in the fourth quarter worth $1,836,000. Opulen Financial Group LLC acquired a new stake in Meta Platforms in the fourth quarter worth $325,000. Daner Wealth Management LLC acquired a new stake in Meta Platforms in the fourth quarter worth $334,000. Finally, Sara Bay Financial grew its holdings in Meta Platforms by 1.0% in the fourth quarter. Sara Bay Financial now owns 28,250 shares of the social networking company's stock worth $16,703,000 after purchasing an additional 287 shares during the period. 79.91% of the stock is currently 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.

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