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

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total value of $483,224.75. Following the completion of the sale, the insider now owns 36,940 shares of the company’s stock, valued at $19,724,113. The sale 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, July 2nd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $500.57, for a total value of $453,015.85.
• 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 value 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 value of $423,150.85.
• 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.

Meta Platforms Price Performance

META opened at $498.87 on Friday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.27 trillion, a P/E ratio of 28.65, a PEG ratio of 1.39 and a beta of 1.21. The stock has a 50-day moving average price of $492.56 and a 200-day moving average price of $466.00. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $542.81.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm 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%. Equities analysts predict that Meta Platforms, Inc. will post 20.19 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is presently 11.49%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on META shares. Guggenheim cut their target price on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Roth Mkm lifted their target price on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Stifel Nicolaus lifted their target price on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Wells Fargo & Company lifted their target price on Meta Platforms from $593.00 to $625.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Finally, The Goldman Sachs Group cut their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $515.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in META. Allen Mooney & Barnes Investment Advisors LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $265,000. Carmignac Gestion raised its stake in Meta Platforms by 1.2% during the third quarter. Carmignac Gestion now owns 1,005,530 shares of the social networking company’s stock valued at $301,874,000 after buying an additional 12,235 shares during the last quarter. Alamar Capital Management LLC purchased a new position in Meta Platforms during the third quarter valued at $201,000. Neo Ivy Capital Management raised its stake in Meta Platforms by 600.8% during the third quarter. Neo Ivy Capital Management now owns 8,788 shares of the social networking company’s stock valued at $2,638,000 after buying an additional 7,534 shares during the last quarter. Finally, Modera Wealth Management LLC raised its stake in Meta Platforms by 8.5% during the third quarter. Modera Wealth Management LLC now owns 7,775 shares of the social networking company’s stock valued at $2,334,000 after buying an additional 607 shares during the last quarter. 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.