Insider Selling: Meta Platforms, Inc. (NASDAQ:META) Insider Sells 905 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total value of $453,015.85. Following the completion of the transaction, the insider now owns 37,845 shares in the company, valued at approximately $18,944,071.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, June 25th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $496.99, for a total transaction of $449,775.95.
• On Tuesday, June 11th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $500.00, for a total value of $452,500.00.
• On Tuesday, June 4th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $477.00, for a total value of $431,685.00.
• On Tuesday, May 28th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $476.69, for a total value of $431,404.45.
• On Tuesday, May 21st, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $467.57, for a total transaction of $423,150.85.
• On Tuesday, May 7th, Jennifer Newstead sold 576 shares of Meta Platforms stock. The stock was sold at an average price of $466.33, for a total transaction 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 stock was sold at an average price of $491.25, for a total transaction 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 stock was sold at an average price of $522.00, for a total value of $305,370.00.

Meta Platforms Stock Up 0.1 %

Shares of NASDAQ META traded up $0.46 during midday trading on Wednesday, hitting $509.96. 6,005,613 shares of the stock traded hands, compared to its average volume of 16,245,967. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $531.49. The company has a market cap of $1.29 trillion, a PE ratio of 29.29, a P/E/G ratio of 1.31 and a beta of 1.21. The business has a 50 day moving average price of $480.72 and a two-hundred day moving average price of $458.05. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, equities analysts predict that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities raised their price target on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Jefferies Financial Group lowered their price target on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Wolfe Research decreased their price objective on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. TD Cowen decreased their target price on Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Oppenheimer decreased their price objective on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $511.27.

Institutional Investors Weigh In On Meta Platforms

Several institutional investors and hedge funds have recently added to or reduced their stakes in META. Norges Bank purchased a new position in Meta Platforms in the fourth quarter valued at about $11,285,855,000. International Assets Investment Management LLC raised its stake in shares of Meta Platforms by 11,154.4% in the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after buying an additional 4,908,251 shares during the period. Capital Research Global Investors lifted its position in shares of Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after buying an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management grew its stake in shares of Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after acquiring an additional 3,888,308 shares during the period. Finally, Vanguard Group Inc. raised its stake in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after acquiring an additional 3,104,550 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

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.