Meta Platforms, Inc. (NASDAQ:META) Insider Sells $423,150.85 in Stock

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total value of $423,150.85. Following the sale, the insider now owns 43,275 shares of the company’s stock, valued at approximately $20,234,091.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 shares were sold at an average price of $495.00, for a total value of $289,575.00.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $478.22 on Friday. The firm has a market capitalization of $1.21 trillion, a P/E ratio of 27.47, a P/E/G ratio of 1.21 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock’s 50-day simple moving average is $484.07 and its two-hundred day simple moving average is $426.02. Meta Platforms, Inc. has a twelve month low of $249.17 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 20.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Meta Platforms

Institutional investors have recently modified their holdings of the company. Stone House Investment Management LLC increased its position in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC increased its position in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. Quest Partners LLC bought a new position in shares of Meta Platforms during the 4th quarter valued at about $32,000. Clear Investment Research LLC increased its position in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Finally, Delos Wealth Advisors LLC increased its position in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 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 have issued reports on META shares. Royal Bank of Canada reduced their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Canaccord Genuity Group upped their price objective on Meta Platforms from $450.00 to $540.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Rosenblatt Securities upped their price objective on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Wells Fargo & Company reduced their price objective on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Finally, Sanford C. Bernstein reduced their price objective on Meta Platforms from $590.00 to $565.00 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 assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $509.80.

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.