Meta Platforms, Inc. (NASDAQ:META) Insider Sells $511,596.50 in Stock

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $565.30, for a total value of $511,596.50. Following the completion of the sale, the insider now directly owns 37,790 shares of the company’s stock, valued at approximately $21,362,687. This represents a 2.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, November 5th, Jennifer Newstead sold 901 shares of Meta Platforms stock. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70.
• On Tuesday, October 29th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $580.10, for a total value of $524,990.50.
• On Tuesday, October 22nd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $574.70, for a total value of $520,103.50.
• On Tuesday, October 15th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $589.97, for a total value of $533,922.85.
• On Tuesday, October 8th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $589.89, for a total value of $533,850.45.
• On Tuesday, October 1st, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $578.55, for a total value of $523,587.75.
• On Tuesday, September 17th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $537.72, for a total value of $486,636.60.
• On Tuesday, September 10th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $507.63, for a total value of $459,405.15.
• On Tuesday, September 3rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $520.00, for a total value of $470,600.00.

Meta Platforms Stock Down 0.8 %

META stock traded down $4.34 during midday trading on Wednesday, hitting $569.20. The company’s stock had a trading volume of 6,911,094 shares, compared to its average volume of 14,911,236. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company’s fifty day moving average price is $574.12 and its 200 day moving average price is $526.03. The stock has a market capitalization of $1.44 trillion, a P/E ratio of 26.81, a PEG ratio of 1.25 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, equities research analysts predict that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Institutional Trading of Meta Platforms

A number of institutional investors and hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its position in Meta Platforms by 48.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after purchasing an additional 16,138 shares in the last quarter. Cypress Asset Management Inc. TX increased its position in Meta Platforms by 541.8% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock valued at $1,862,000 after acquiring an additional 3,224 shares during the period. Montchanin Asset Management LLC acquired a new position in Meta Platforms in the 1st quarter valued at approximately $498,000. Untitled Investments LP increased its position in Meta Platforms by 45.6% in the 1st quarter. Untitled Investments LP now owns 34,158 shares of the social networking company’s stock valued at $16,586,000 after acquiring an additional 10,705 shares during the period. Finally, CCM Investment Advisers LLC increased its position in Meta Platforms by 0.4% in the 1st quarter. CCM Investment Advisers LLC now owns 45,736 shares of the social networking company’s stock valued at $22,208,000 after acquiring an additional 163 shares during the period. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price target on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Sanford C. Bernstein increased their price target on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. KeyCorp raised their price objective on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Roth Mkm raised their price objective on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company dropped their price objective on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $634.71.

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.