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

Meta Platforms, Inc. (NASDAQ:META)’s share price dropped 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. Approximately 16,749,698 shares were traded during trading, a decline of 8% from the average daily volume of 18,163,588 shares. The stock had previously closed at $441.38.

Specifically, CEO Mark Zuckerberg sold 97,093 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the transaction, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $469.67, for a total value of $45,601,669.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,349,148 shares of company stock worth $649,552,559. Company insiders own 13.75% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a report on Thursday. Evercore ISI upped their target price on shares of Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Jefferies Financial Group lowered their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a report on Thursday. Sanford C. Bernstein reduced their price objective on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Canaccord Genuity Group decreased their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $509.18.

Meta Platforms Stock Down 0.7 %

The firm has a market capitalization of $1.12 trillion, a P/E ratio of 25.21, a PEG ratio of 1.26 and a beta of 1.20. The firm’s 50 day moving average is $495.08 and its two-hundred day moving average is $403.40. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.37%. Research analysts predict that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.46%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Institutional Investors Weigh In On Meta Platforms

Large investors have recently added to or reduced their stakes in the business. S.A. Mason LLC lifted its stake in Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after acquiring an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN lifted its position in shares of Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares in the last quarter. LongView Wealth Management boosted its holdings in Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after purchasing an additional 22 shares during the last quarter. Hanson & Doremus Investment Management grew its position in Meta Platforms by 5.3% in the 1st quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock worth $211,000 after purchasing an additional 22 shares in the last quarter. Finally, Madison Wealth Partners Inc increased its stake in Meta Platforms by 1.6% in the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after buying an additional 23 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

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.