Meta Platforms, Inc. (NASDAQ:META) Insider Jennifer Newstead Sells 519 Shares

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) insider Jennifer Newstead sold 519 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $716.10, for a total transaction of $371,655.90. Following the sale, the insider owned 26,069 shares in the company, valued at $18,668,010.90. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Jennifer Newstead also recently made the following trade(s):

• On Tuesday, July 15th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The stock was sold at an average price of $723.08, for a total value of $375,278.52.
• On Tuesday, July 8th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The stock was sold at an average price of $721.57, for a total value of $374,494.83.
• On Tuesday, July 1st, Jennifer Newstead sold 519 shares of Meta Platforms stock. The stock was sold at an average price of $737.00, for a total value of $382,503.00.
• On Tuesday, June 24th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The stock was sold at an average price of $704.89, for a total value of $365,837.91.
• On Tuesday, June 17th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The stock was sold at an average price of $701.99, for a total value of $364,332.81.
• On Tuesday, June 10th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The stock was sold at an average price of $701.00, for a total value of $363,819.00.
• On Tuesday, June 3rd, Jennifer Newstead sold 519 shares of Meta Platforms stock. The shares were sold at an average price of $671.00, for a total transaction of $348,249.00.
• On Tuesday, May 27th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The stock was sold at an average price of $635.41, for a total value of $329,777.79.
• On Tuesday, May 20th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The stock was sold at an average price of $635.50, for a total value of $329,824.50.
• 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.

Meta Platforms Price Performance

META stock traded down $2.13 on Friday, hitting $712.67. 5,983,566 shares of the company's stock traded hands, compared to its average volume of 15,434,930. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.79 trillion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 1.71 and a beta of 1.28. Meta Platforms, Inc. has a 1-year low of $450.80 and a 1-year high of $747.90. The stock has a fifty day moving average of $691.04 and a 200-day moving average of $640.92.

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, beating the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business posted $4.71 earnings per share. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Piper Sandler reissued an "overweight" rating and issued a $808.00 price target (up from $650.00) on shares of Meta Platforms in a report on Friday, June 27th. Oppenheimer upped their price target on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research note on Monday, June 16th. 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. Wedbush increased their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $750.00 price objective on shares of Meta Platforms in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $752.33.

Institutional Trading of Meta Platforms

Large investors have recently added to or reduced their stakes in the company. Inlight Wealth Management LLC bought a new position in Meta Platforms during the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Meta Platforms in the 1st quarter valued at $28,000. Evergreen Private Wealth LLC boosted its holdings in Meta Platforms by 237.5% in the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company's stock worth $40,000 after purchasing an additional 38 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in Meta Platforms during the first quarter worth $33,000. Finally, Maseco LLP bought a new stake in shares of Meta Platforms during the 2nd quarter worth about $54,000. 79.91% of the stock is 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.