Jennifer Newstead Sells 585 Shares of Meta Platforms, Inc. (NASDAQ:META) Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) insider Jennifer Newstead sold 585 shares of the business's stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now directly owns 36,643 shares in the company, valued at approximately $15,794,965.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, April 23rd, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $491.25, for a total value of $287,381.25.
• On Tuesday, April 16th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $498.59, for a total transaction of $291,675.15.
• On Tuesday, April 9th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00.
• On Tuesday, April 2nd, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $485.00, for a total transaction of $283,725.00.
• On Tuesday, March 26th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $505.29, for a total transaction of $295,594.65.
• On Tuesday, March 19th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $488.50, for a total transaction of $285,772.50.
• On Tuesday, March 12th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $493.75, for a total transaction of $288,843.75.
• On Tuesday, March 5th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $495.00, for a total transaction of $289,575.00.
• On Tuesday, February 27th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $480.00, for a total transaction of $280,800.00.
• On Tuesday, February 20th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $469.88, for a total transaction of $274,879.80.

Meta Platforms Price Performance

Meta Platforms stock traded up $2.49 during trading hours on Thursday, reaching $441.68. 14,701,431 shares of the stock were exchanged, compared to its average volume of 18,414,781. The company has a market cap of $1.13 trillion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 1.12 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $229.85 and a twelve month high of $531.49. The stock has a 50 day moving average of $492.25 and a two-hundred day moving average of $407.19.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts' consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Equities analysts expect that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vicus Capital raised its holdings in Meta Platforms by 63.2% during the 3rd quarter. Vicus Capital now owns 4,955 shares of the social networking company's stock worth $1,488,000 after purchasing an additional 1,919 shares during the last quarter. Hendershot Investments Inc. increased its stake in shares of Meta Platforms by 0.8% in the 3rd quarter. Hendershot Investments Inc. now owns 17,604 shares of the social networking company's stock valued at $5,285,000 after acquiring an additional 136 shares in the last quarter. Callahan Advisors LLC grew its position in Meta Platforms by 1.8% in the 3rd quarter. Callahan Advisors LLC now owns 124,374 shares of the social networking company's stock valued at $37,338,000 after purchasing an additional 2,151 shares during the period. Satovsky Asset Management LLC grew its position in Meta Platforms by 3.6% in the 3rd quarter. Satovsky Asset Management LLC now owns 1,448 shares of the social networking company's stock valued at $435,000 after purchasing an additional 50 shares during the period. Finally, Aua Capital Management LLC grew its position in Meta Platforms by 5.1% in the 3rd quarter. Aua Capital Management LLC now owns 6,248 shares of the social networking company's stock valued at $1,876,000 after purchasing an additional 303 shares during the period. Institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on META shares. Wells Fargo & Company dropped their price target on shares of Meta Platforms from $609.00 to $600.00 and set an "overweight" rating for the company in a research note on Wednesday, April 3rd. JMP Securities reissued a "market outperform" rating and set a $550.00 price target on shares of Meta Platforms in a research note on Monday, April 22nd. UBS Group dropped their price target on shares of Meta Platforms from $610.00 to $575.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. Wedbush dropped their price target on shares of Meta Platforms from $570.00 to $480.00 and set an "outperform" rating for the company in a research note on Thursday, April 25th. Finally, Oppenheimer dropped their price target on shares of Meta Platforms from $585.00 to $500.00 and set an "outperform" rating for the company in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $509.80.

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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