Meta Platforms, Inc. (NASDAQ:META) Insider Jennifer Newstead Sells 576 Shares

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 576 shares of Meta Platforms stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $466.33, for a total value of $268,606.08. Following the completion of the sale, the insider now owns 36,067 shares of the company’s stock, valued at $16,819,124.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, April 30th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $431.05, for a total value of $252,164.25.
• 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 stock was 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 shares were sold at an average price of $488.50, for a total transaction of $285,772.50.
• On Tuesday, March 12th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were 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 stock was 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 stock was sold at an average price of $480.00, for a total value of $280,800.00.

Meta Platforms Trading Up 0.3 %

Shares of NASDAQ META opened at $476.92 on Friday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average price is $489.50 and its two-hundred day moving average price is $412.64. The stock has a market capitalization of $1.21 trillion, a P/E ratio of 27.31, a PEG ratio of 1.18 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $231.45 and a 52-week high of $531.49.

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. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, analysts anticipate that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal year.

Institutional Trading of Meta Platforms

Several hedge funds and other institutional investors have recently modified their holdings of META. Vanguard Group Inc. grew its stake in shares of Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after buying an additional 3,104,550 shares in the last quarter. FMR LLC raised its holdings in shares of Meta Platforms by 4.0% during the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after purchasing an additional 5,001,647 shares in the last quarter. Capital World Investors lifted its stake in shares of Meta Platforms by 2.5% in the 4th quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock valued at $13,469,906,000 after purchasing an additional 927,491 shares during the last quarter. Morgan Stanley boosted its holdings in Meta Platforms by 3.4% in the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after purchasing an additional 1,184,978 shares in the last quarter. Finally, Capital International Investors raised its holdings in Meta Platforms by 3.2% during the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after buying an additional 1,083,719 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on META shares. 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, April 25th. Benchmark restated a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Guggenheim cut their target price on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Piper Sandler restated an “overweight” rating and issued a $545.00 target price (down previously from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Finally, 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. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $509.80.

About Meta Platforms

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.