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

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $565.30, for a total transaction of $511,596.50. Following the sale, the insider now directly owns 37,790 shares in the company, valued at $21,362,687. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, November 5th, Jennifer Newstead sold 901 shares of Meta Platforms stock. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70.
• On Tuesday, October 29th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was 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 value 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 stock was sold at an average price of $589.89, for a total transaction of $533,850.45.
• 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 transaction of $523,587.75.
• On Tuesday, September 17th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $537.72, for a total transaction 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 shares were sold at an average price of $520.00, for a total value of $470,600.00.

Meta Platforms Stock Performance

Shares of META opened at $569.20 on Friday. The firm has a market capitalization of $1.44 trillion, a P/E ratio of 26.81, a PEG ratio of 1.25 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The business has a fifty day moving average of $574.75 and a 200 day moving average of $526.33.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Institutional Investors Weigh In On Meta Platforms

Hedge funds have recently modified their holdings of the business. JDM Financial Group LLC bought a new stake in Meta Platforms during the third quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms in the third quarter worth about $36,000. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. grew its stake in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the period. Finally, Halpern Financial Inc. purchased a new stake in Meta Platforms in the 3rd quarter worth approximately $46,000. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the subject of a number of research reports. Barclays upped their price objective on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Loop Capital upped their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Rosenblatt Securities reissued a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research note on Thursday, October 31st. BMO Capital Markets boosted their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Finally, Robert W. Baird increased their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $634.71.

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.