Insider Selling: Meta Platforms, Inc. (NASDAQ:META) Insider Sells 342 Shares of Stock

Meta Platforms, Inc. (NASDAQ:METAGet Rating) insider Jennifer Newstead sold 342 shares of the firm’s stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $166.11, for a total value of $56,809.62. Following the completion of the transaction, the insider now owns 18,773 shares in the company, valued at approximately $3,118,383.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • On Tuesday, June 14th, Jennifer Newstead sold 342 shares of Meta Platforms stock. The shares were sold at an average price of $165.89, for a total value of $56,734.38.
  • On Tuesday, June 7th, Jennifer Newstead sold 342 shares of Meta Platforms stock. The shares were sold at an average price of $191.93, for a total value of $65,640.06.
  • On Tuesday, May 31st, Jennifer Newstead sold 342 shares of Meta Platforms stock. The shares were sold at an average price of $194.93, for a total value of $66,666.06.
  • On Tuesday, May 24th, Jennifer Newstead sold 342 shares of Meta Platforms stock. The stock was sold at an average price of $180.53, for a total value of $61,741.26.
  • On Tuesday, May 10th, Jennifer Newstead sold 311 shares of Meta Platforms stock. The stock was sold at an average price of $199.60, for a total value of $62,075.60.
  • On Tuesday, May 3rd, Jennifer Newstead sold 622 shares of Meta Platforms stock. The shares were sold at an average price of $210.78, for a total value of $131,105.16.
  • On Tuesday, April 26th, Jennifer Newstead sold 330 shares of Meta Platforms stock. The shares were sold at an average price of $186.63, for a total value of $61,587.90.
  • On Tuesday, April 19th, Jennifer Newstead sold 476 shares of Meta Platforms stock. The shares were sold at an average price of $210.70, for a total value of $100,293.20.
  • On Tuesday, April 12th, Jennifer Newstead sold 476 shares of Meta Platforms stock. The shares were sold at an average price of $220.04, for a total value of $104,739.04.
  • On Tuesday, April 5th, Jennifer Newstead sold 476 shares of Meta Platforms stock. The shares were sold at an average price of $233.92, for a total value of $111,345.92.

Shares of Meta Platforms stock traded up $2.90 on Thursday, hitting $158.75. 40,344,681 shares of the company’s stock traded hands, compared to its average volume of 34,775,102. Meta Platforms, Inc. has a one year low of $154.25 and a one year high of $384.33. The company has a fifty day moving average of $190.82 and a two-hundred day moving average of $239.46. The company has a market capitalization of $429.63 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37.

Meta Platforms (NASDAQ:METAGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The social networking company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.18. The company had revenue of $27.91 billion during the quarter, compared to the consensus estimate of $28.21 billion. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. During the same period last year, the business posted $3.30 earnings per share. As a group, analysts expect that Meta Platforms, Inc. will post 11.63 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Widmann Financial Services Inc. bought a new position in Meta Platforms during the fourth quarter valued at $100,000. EFG Asset Management North America Corp. bought a new position in shares of Meta Platforms in the fourth quarter worth $7,032,000. Pacer Advisors Inc. boosted its holdings in shares of Meta Platforms by 149.1% in the first quarter. Pacer Advisors Inc. now owns 506,232 shares of the social networking company’s stock worth $112,566,000 after acquiring an additional 303,001 shares during the period. Steigerwald Gordon & Koch Inc. boosted its holdings in shares of Meta Platforms by 4.1% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 2,012 shares of the social networking company’s stock worth $677,000 after acquiring an additional 80 shares during the period. Finally, Colony Group LLC boosted its holdings in shares of Meta Platforms by 13.7% in the third quarter. Colony Group LLC now owns 27,256 shares of the social networking company’s stock worth $9,250,000 after acquiring an additional 3,287 shares during the period. 65.49% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have weighed in on the company. Citigroup upgraded Meta Platforms from a “neutral” rating to a “buy” rating and raised their price target for the company from $258.00 to $300.00 in a research note on Wednesday, April 20th. Raymond James decreased their price target on Meta Platforms from $340.00 to $290.00 in a research note on Thursday, April 28th. Evercore ISI decreased their price target on Meta Platforms from $350.00 to $325.00 in a research note on Thursday, April 28th. UBS Group reduced their target price on Meta Platforms from $310.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, June 16th. Finally, Mizuho reduced their target price on Meta Platforms from $425.00 to $325.00 and set a “buy” rating for the company in a research note on Monday, April 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $305.87.

Meta Platforms Company Profile (Get Rating)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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