Insider Selling: Meta Platforms (NASDAQ:META) CFO Sells $1,315,400.61 in Stock

Meta Platforms, Inc. (NASDAQ:METAGet Free Report) CFO Susan Li sold 2,127 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $618.43, for a total value of $1,315,400.61. Following the sale, the chief financial officer owned 15,346 shares of the company’s stock, valued at approximately $9,490,426.78. The trade was a 12.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $607.38 on Friday. The stock has a market capitalization of $1.54 trillion, a P/E ratio of 22.08, a P/E/G ratio of 1.07 and a beta of 1.25. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25. The business has a 50-day moving average price of $618.57 and a two-hundred day moving average price of $637.18.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. During the same period in the previous year, the firm posted $6.43 earnings per share. Meta Platforms’s revenue for the quarter was up 33.1% compared to the same quarter last year. Equities analysts predict that Meta Platforms, Inc. will post 29.49 earnings per share for the current year.

Institutional Trading of Meta Platforms

Hedge funds and other institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC increased its holdings in Meta Platforms by 34.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 52,252 shares of the social networking company’s stock valued at $38,373,000 after buying an additional 13,311 shares during the period. Keybank National Association OH boosted its position in shares of Meta Platforms by 15.7% during the 4th quarter. Keybank National Association OH now owns 133,798 shares of the social networking company’s stock worth $88,319,000 after acquiring an additional 18,169 shares in the last quarter. Becker Capital Management Inc. boosted its position in shares of Meta Platforms by 5.0% during the 3rd quarter. Becker Capital Management Inc. now owns 35,052 shares of the social networking company’s stock worth $25,741,000 after acquiring an additional 1,657 shares in the last quarter. Diversified Trust Co. increased its stake in Meta Platforms by 4.1% in the fourth quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company’s stock valued at $55,487,000 after acquiring an additional 3,336 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC raised its position in Meta Platforms by 16.2% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 6,933 shares of the social networking company’s stock valued at $5,091,000 after purchasing an additional 968 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Key Headlines Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Analysts Set New Price Targets

META has been the subject of several analyst reports. UBS Group decreased their target price on Meta Platforms from $908.00 to $865.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. KeyCorp reissued an “overweight” rating and set a $760.00 price objective on shares of Meta Platforms in a research note on Thursday, April 30th. Roth Mkm restated a “buy” rating on shares of Meta Platforms in a report on Thursday, April 30th. Scotiabank upped their target price on shares of Meta Platforms from $685.00 to $700.00 and gave the company a “sector perform” rating in a research note on Thursday, January 29th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Meta Platforms from $880.00 to $920.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $840.19.

Check Out Our Latest Analysis on Meta Platforms

About Meta Platforms

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Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

Insider Buying and Selling by Quarter for Meta Platforms (NASDAQ:META)

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