Meta Platforms (NASDAQ:META) Trading Down 0.6% on Insider Selling

Meta Platforms, Inc. (NASDAQ:META) fell 0.6% during trading on Friday after an insider sold shares in the company. The stock traded as low as $431.96 and last traded at $438.93. 16,749,698 shares were traded during mid-day trading, a decline of 8% from the average session volume of 18,163,588 shares. The stock had previously closed at $441.38.

Specifically, CTO Andrew Bosworth sold 8,036 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the sale, the chief technology officer now owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CTO Andrew Bosworth sold 8,036 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the sale, the chief technology officer now owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The disclosure for this sale can be found here. Insiders sold a total of 1,349,148 shares of company stock valued at $649,552,559 over the last quarter. Corporate insiders own 13.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on META shares. Susquehanna lifted their target price on shares of Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a report on Friday, February 2nd. Evercore ISI lifted their target price on shares of Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Wedbush lowered their target price on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a report on Thursday. Canaccord Genuity Group lowered their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday. Finally, Oppenheimer lowered their target price on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $509.18.

Meta Platforms Stock Performance

The stock’s 50 day moving average price is $494.48 and its 200 day moving average price is $404.85. The company has a current ratio of 2.68, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 1.12 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Analysts expect that Meta Platforms, Inc. will post 20.33 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.45%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Institutional Investors Weigh In On Meta Platforms

Hedge funds have recently bought and sold shares of the company. Stone House Investment Management LLC lifted its stake in Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the last quarter. Quest Partners LLC bought a new position in Meta Platforms in the 4th quarter valued at about $32,000. Kathleen S. Wright Associates Inc. bought a new position in Meta Platforms in the 1st quarter valued at about $44,000. Clear Investment Research LLC raised its holdings in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the period. Finally, Gilfoyle & Co LLC bought a new position in Meta Platforms in the 4th quarter valued at about $39,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

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.