Meta Platforms, Inc. (NASDAQ:META) Insider Jennifer Newstead Sells 907 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) insider Jennifer Newstead sold 907 shares of Meta Platforms stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $645.77, for a total value of $585,713.39. Following the completion of the transaction, the insider now owns 24,749 shares of the company's stock, valued at approximately $15,982,161.73. This represents a 3.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, May 6th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $592.52, for a total transaction 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 transaction of $502,101.57.
• On Tuesday, April 22nd, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was 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 shares were sold at an average price of $531.22, for a total transaction 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 value of $525,577.86.
• On Tuesday, March 25th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $627.05, for a total value 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 transaction of $552,830.25.
• On Tuesday, March 11th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $595.00, for a total value of $547,995.00.
• On Tuesday, March 4th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $644.00, for a total transaction of $593,124.00.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded down $15.48 during trading on Thursday, hitting $643.88. 14,269,207 shares of the company were exchanged, compared to its average volume of 14,523,715. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The company has a market cap of $1.63 trillion, a PE ratio of 26.92, a P/E/G ratio of 1.42 and a beta of 1.24. The stock has a 50 day moving average of $570.68 and a 200 day moving average of $606.39.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for 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%. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.71 EPS. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Hedge Funds Weigh In On Meta Platforms

Institutional investors and hedge funds have recently made changes to their positions in the business. Valley Financial Group Inc. increased its position in Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after purchasing an additional 14 shares during the period. Lantern Wealth Advisors LLC raised its stake in Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after buying an additional 14 shares in the last quarter. Seelaus Asset Management LLC lifted its holdings in Meta Platforms by 0.9% in the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after buying an additional 15 shares during the period. Meredith Wealth Planning grew its holdings in shares of Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after acquiring an additional 15 shares during the period. Finally, Maiden Cove Capital LLC grew its holdings in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after acquiring an additional 15 shares during the period. Institutional investors own 79.91% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on META. Stifel Nicolaus raised their price objective on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Morgan Stanley raised their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. UBS Group upped their price objective on shares of Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Loop Capital reduced their target price on shares of Meta Platforms from $900.00 to $695.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, Bank of America boosted their target price on shares of Meta Platforms from $640.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $696.45.

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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