Insider Selling: Meta Platforms, Inc. (NASDAQ:META) Insider Sells 901 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the sale, the insider now directly owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Tuesday, October 29th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $580.10, for a total value of $524,990.50.
• On Tuesday, October 22nd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $574.70, for a total transaction of $520,103.50.
• On Tuesday, October 15th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $589.97, for a total value of $533,922.85.
• On Tuesday, October 8th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $589.89, for a total value of $533,850.45.
• On Tuesday, October 1st, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was 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 stock was sold at an average price of $507.63, for a total transaction of $459,405.15.
• On Tuesday, September 3rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was 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 stock was sold at an average price of $519.05, for a total transaction of $469,740.25.
• On Tuesday, August 20th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $528.38, for a total value of $478,183.90.

Meta Platforms Price Performance

META traded up $19.65 on Thursday, hitting $591.70. 14,631,257 shares of the company were exchanged, compared to its average volume of 15,133,808. The business’s fifty day moving average is $558.95 and its 200 day moving average is $514.71. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Institutional Investors Weigh In On Meta Platforms

Institutional investors have recently modified their holdings of the stock. Delos Wealth Advisors LLC lifted its stake in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms in the 2nd quarter valued at approximately $38,000. Ruedi Wealth Management Inc. lifted its position in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the period. Finally, Halpern Financial Inc. purchased a new position in shares of Meta Platforms during the 3rd quarter valued at $46,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on META. TD Securities lifted their target price on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Tigress Financial upped their price target on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. KeyCorp lifted their price objective on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Truist Financial boosted their target price on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Monness Crespi & Hardt lifted their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

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.