Meta Platforms, Inc. (NASDAQ:META) Insider Sells $252,164.25 in Stock

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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.
• 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 transaction of $305,370.00.
• On Tuesday, April 2nd, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $485.00, for a total transaction of $283,725.00.
• On Tuesday, March 26th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $505.29, for a total value of $295,594.65.
• On Tuesday, March 19th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $488.50, for a total value of $285,772.50.
• On Tuesday, March 12th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $493.75, for a total value of $288,843.75.
• On Tuesday, March 5th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $495.00, for a total transaction of $289,575.00.
• On Tuesday, February 27th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $480.00, for a total transaction of $280,800.00.
• On Tuesday, February 20th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $469.88, for a total transaction of $274,879.80.

Meta Platforms Trading Up 2.3 %

Meta Platforms stock opened at $451.96 on Friday. Meta Platforms, Inc. has a one year low of $229.85 and a one year high of $531.49. The company’s fifty day moving average price is $490.72 and its two-hundred day moving average price is $408.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The company has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.15 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. On average, analysts forecast that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

META has been the subject of a number of research reports. The Goldman Sachs Group lowered their price target 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. Citigroup cut their price target on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Morgan Stanley lifted their price objective on shares of Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Bank of America increased their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Susquehanna lifted their price target on shares of Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $509.80.

Institutional Trading of Meta Platforms

Several large investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Meta Platforms during the 4th quarter worth about $11,285,855,000. FMR LLC lifted its holdings in shares of Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after buying an additional 5,001,647 shares during the last quarter. International Assets Investment Management LLC boosted its position 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 acquiring an additional 4,908,251 shares during the period. Capital Research Global Investors grew its stake in shares of Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after acquiring an additional 4,440,229 shares during the last quarter. Finally, Concentrum Wealth Management increased its position in Meta Platforms by 111.0% during the fourth 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. 79.91% of the stock is owned by institutional investors.

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.