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 company’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $166.11, for a total transaction of $56,809.62. Following the sale, the insider now directly owns 18,773 shares in the company, valued at $3,118,383.03. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

  • On Tuesday, June 14th, Jennifer Newstead sold 342 shares of Meta Platforms stock. The stock was sold at an average price of $165.89, for a total transaction of $56,734.38.
  • On Tuesday, June 7th, Jennifer Newstead sold 342 shares of Meta Platforms stock. The stock was sold at an average price of $191.93, for a total transaction of $65,640.06.
  • On Tuesday, May 31st, Jennifer Newstead sold 342 shares of Meta Platforms stock. The stock was sold at an average price of $194.93, for a total transaction 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 transaction 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 transaction of $62,075.60.
  • On Tuesday, May 3rd, Jennifer Newstead sold 622 shares of Meta Platforms stock. The stock was sold at an average price of $210.78, for a total transaction of $131,105.16.
  • On Tuesday, April 26th, Jennifer Newstead sold 330 shares of Meta Platforms stock. The stock was sold at an average price of $186.63, for a total transaction 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 transaction 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 transaction 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 transaction of $111,345.92.

Shares of META traded up $2.90 during midday trading on Thursday, hitting $158.75. The company had a trading volume of 40,344,681 shares, compared to its average volume of 34,775,102. The company’s 50 day moving average price is $190.82 and its 200 day moving average price is $239.46. The stock has a market cap of $429.63 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 1.23 and a beta of 1.37. Meta Platforms, Inc. has a 52 week low of $154.25 and a 52 week high of $384.33.

Meta Platforms (NASDAQ:METAGet Rating) last released its earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.18. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. The company had revenue of $27.91 billion during the quarter, compared to the consensus estimate of $28.21 billion. During the same quarter in the previous year, the firm earned $3.30 EPS. On average, research analysts predict that Meta Platforms, Inc. will post 11.63 EPS for the current fiscal year.

A number of analysts recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Meta Platforms from $330.00 to $310.00 in a research note on Tuesday, May 24th. BMO Capital Markets decreased their price target on shares of Meta Platforms from $290.00 to $225.00 in a research note on Friday, April 22nd. The Goldman Sachs Group decreased their price target on shares of Meta Platforms from $300.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, June 9th. Benchmark initiated coverage on shares of Meta Platforms in a research report on Tuesday, March 1st. They set a “hold” rating for the company. Finally, Truist Financial cut their price objective on shares of Meta Platforms from $350.00 to $320.00 in a research report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $305.87.

Several hedge funds and other institutional investors have recently bought and sold shares of META. Norges Bank acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $9,595,113,000. Dodge & Cox boosted its stake in Meta Platforms by 78.7% during the 4th quarter. Dodge & Cox now owns 6,655,324 shares of the social networking company’s stock valued at $2,238,518,000 after purchasing an additional 2,931,894 shares during the period. Capital International Investors boosted its stake in Meta Platforms by 5.9% during the 4th quarter. Capital International Investors now owns 51,769,038 shares of the social networking company’s stock valued at $17,413,576,000 after purchasing an additional 2,888,336 shares during the period. Polen Capital Management LLC boosted its stake in Meta Platforms by 26.1% during the 1st quarter. Polen Capital Management LLC now owns 13,165,612 shares of the social networking company’s stock valued at $2,927,505,000 after purchasing an additional 2,722,842 shares during the period. Finally, HS Management Partners LLC boosted its stake in Meta Platforms by 463.7% during the 4th quarter. HS Management Partners LLC now owns 2,826,830 shares of the social networking company’s stock valued at $182,104,000 after purchasing an additional 2,325,382 shares during the period. 65.49% of the stock is owned by institutional investors and hedge funds.

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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