Jennifer Newstead Sells 905 Shares of Meta Platforms, Inc. (NASDAQ:META) Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) insider Jennifer Newstead sold 905 shares of the company's stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $467.57, for a total value of $423,150.85. Following the sale, the insider now directly owns 43,275 shares in the company, valued at $20,234,091.75. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, May 7th, Jennifer Newstead sold 576 shares of Meta Platforms stock. The shares were sold at an average price of $466.33, for a total value of $268,606.08.
• On Tuesday, April 30th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $431.05, for a total value of $252,164.25.
• 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 shares were sold at an average price of $498.59, for a total value of $291,675.15.
• On Tuesday, April 9th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $522.00, for a total value of $305,370.00.
• On Tuesday, April 2nd, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $485.00, for a total value of $283,725.00.
• On Tuesday, March 26th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $505.29, for a total value of $295,594.65.
• On Tuesday, March 19th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $488.50, for a total value of $285,772.50.
• On Tuesday, March 12th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $493.75, for a total value 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 value of $289,575.00.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded down $2.00 on Thursday, reaching $465.78. The company's stock had a trading volume of 11,731,512 shares, compared to its average volume of 17,531,096. The company has a market capitalization of $1.18 trillion, a P/E ratio of 26.75, a PEG ratio of 1.20 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $244.95 and a 52-week high of $531.49. The stock has a 50-day moving average price of $484.18 and a 200-day moving average price of $424.15. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts' consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analysts' expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Analysts expect that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Wall Street Analyst Weigh In

META has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their target price on Meta Platforms from $527.00 to $588.00 and gave the stock a "buy" rating in a research note on Tuesday, April 16th. Canaccord Genuity Group increased their target price on Meta Platforms from $450.00 to $540.00 and gave the stock a "buy" rating in a research note on Friday, February 2nd. Wells Fargo & Company reduced their target price on Meta Platforms from $609.00 to $600.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 3rd. Raymond James reduced their target price on Meta Platforms from $550.00 to $525.00 and set a "strong-buy" rating on the stock in a research note on Thursday, April 25th. Finally, Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $509.80.

Institutional Trading of Meta Platforms

A number of institutional investors have recently made changes to their positions in META. Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company's stock valued at $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. FMR LLC lifted its stake in shares of Meta Platforms by 4.0% in the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company's stock valued at $39,270,443,000 after purchasing an additional 5,001,647 shares during the last quarter. Capital World Investors raised its holdings in shares of Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company's stock valued at $18,597,382,000 after buying an additional 244,803 shares during the period. Morgan Stanley raised its holdings in shares of Meta Platforms by 3.4% in the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company's stock valued at $10,890,950,000 after buying an additional 1,184,978 shares during the period. Finally, Capital International Investors raised its holdings in shares of Meta Platforms by 3.2% in the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company's stock valued at $12,296,383,000 after buying an additional 1,083,719 shares during the period. 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.

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