Meta Platforms, Inc. (NASDAQ:META) Insider Sells $330,457.68 in Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $636.72, for a total transaction of $330,457.68. Following the sale, the insider now owns 31,259 shares in the company, valued at approximately $19,903,230.48. The trade was a 1.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 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 shares were 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 shares were sold at an average price of $491.87, for a total transaction 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 shares were 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 shares were 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 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 transaction of $547,995.00.

Meta Platforms Stock Up 0.0%

Shares of META stock traded up $0.09 on Monday, hitting $640.43. The stock had a trading volume of 9,560,069 shares, compared to its average volume of 14,526,495. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $571.79 and a 200 day moving average price of $607.61. The company has a market cap of $1.61 trillion, a PE ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The firm 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 38.17% and a net margin of 37.91%. The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.71 earnings per share. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Institutional Trading of Meta Platforms

Institutional investors and hedge funds have recently made changes to their positions in the company. Regent Peak Wealth Advisors LLC grew its stake in Meta Platforms by 5.8% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company's stock valued at $2,939,000 after purchasing an additional 277 shares during the last quarter. Fjell Capital LLC purchased a new position in Meta Platforms in the fourth quarter valued at about $1,836,000. Opulen Financial Group LLC purchased a new position in Meta Platforms in the fourth quarter valued at about $325,000. Daner Wealth Management LLC purchased a new position in Meta Platforms in the fourth quarter valued at about $334,000. Finally, Eagle Rock Investment Company LLC grew its stake in Meta Platforms by 5.7% in the fourth quarter. Eagle Rock Investment Company LLC now owns 30,644 shares of the social networking company's stock valued at $17,942,000 after purchasing an additional 1,648 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. DA Davidson cut their target price on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group raised their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Jefferies Financial Group cut their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. Raymond James lowered their price target on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research report on Thursday, May 1st. Finally, Morgan Stanley raised their price target on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $701.05.

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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