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

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $589.89, for a total value of $533,850.45. Following the completion of the sale, the insider now owns 34,197 shares in the company, valued at approximately $20,172,468.33. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, October 1st, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $578.55, for a total value of $523,587.75.
• On Tuesday, September 17th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $537.72, for a total value of $486,636.60.
• On Tuesday, September 10th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $507.63, for a total value of $459,405.15.
• On Tuesday, September 3rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $520.00, for a total value of $470,600.00.
• On Tuesday, August 27th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $519.05, for a total value of $469,740.25.
• On Tuesday, August 20th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $528.38, for a total value of $478,183.90.
• On Friday, August 16th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $532.21, for a total value of $481,650.05.
• On Monday, August 5th, Jennifer Newstead sold 901 shares of Meta Platforms stock. The stock was sold at an average price of $451.15, for a total value of $406,486.15.
• On Tuesday, July 23rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $489.80, for a total value of $443,269.00.
• On Tuesday, July 16th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $501.42, for a total value of $453,785.10.

Meta Platforms Trading Down 1.1 %

NASDAQ:META opened at $583.83 on Friday. The stock’s 50 day moving average price is $536.08 and its 200 day moving average price is $504.92. The company has a market capitalization of $1.48 trillion, a PE ratio of 29.80, a P/E/G ratio of 1.45 and a beta of 1.22. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.23 EPS. On average, research analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. Meta Platforms’s dividend payout ratio is presently 10.21%.

Analyst Upgrades and Downgrades

Several research firms recently commented on META. BMO Capital Markets increased their price objective on Meta Platforms from $475.00 to $525.00 and gave the company a “market perform” rating in a research note on Wednesday. Guggenheim increased their price objective on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler increased their price objective on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. TD Securities upped their target price on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Finally, KeyCorp upped their target price on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $608.58.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Central Valley Advisors LLC boosted its stake in shares of Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after buying an additional 18 shares in the last quarter. S.A. Mason LLC raised its holdings in Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after purchasing an additional 20 shares during the last quarter. Front Row Advisors LLC raised its holdings in Meta Platforms by 5.7% during the second quarter. Front Row Advisors LLC now owns 371 shares of the social networking company’s stock worth $187,000 after purchasing an additional 20 shares during the last quarter. Merrion Investment Management Co LLC raised its holdings in Meta Platforms by 1.8% during the third quarter. Merrion Investment Management Co LLC now owns 1,145 shares of the social networking company’s stock worth $655,000 after purchasing an additional 20 shares during the last quarter. Finally, Horizon Bancorp Inc. IN raised its holdings in Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after purchasing an additional 21 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

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.