Meta Platforms, Inc. (NASDAQ:META) Insider Sells $469,740.25 in Stock

Posted by Adam Dyson on Aug 29th, 2024

Meta Platforms, Inc. (NASDAQ:META – Get Free Report) insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $519.05, for a total value of $469,740.25. Following the completion of the sale, the insider now owns 39,627 shares of the company’s stock, valued at approximately $20,568,394.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

On Tuesday, August 20th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $528.38, for a total transaction of $478,183.90.
On Friday, August 16th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $532.21, for a total transaction of $481,650.05.
On Monday, August 5th, Jennifer Newstead sold 901 shares of Meta Platforms stock. The shares were sold at an average price of $451.15, for a total value of $406,486.15.
On Tuesday, July 23rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $489.80, for a total transaction of $443,269.00.
On Tuesday, July 16th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $501.42, for a total transaction of $453,785.10.
On Tuesday, July 9th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $533.95, for a total value of $483,224.75.
On Tuesday, July 2nd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $500.57, for a total value of $453,015.85.
On Tuesday, June 25th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95.
On Tuesday, June 11th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $500.00, for a total value of $452,500.00.
On Tuesday, June 4th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $477.00, for a total value of $431,685.00.

Meta Platforms Trading Up 0.3 %

Shares of META traded up $1.44 during midday trading on Thursday, hitting $518.22. The stock had a trading volume of 8,311,325 shares, compared to its average volume of 16,032,286. The stock’s 50 day moving average is $503.99 and its 200 day moving average is $492.19. The firm has a market cap of $1.31 trillion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23.

Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.23 EPS. As a group, analysts forecast that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Analyst Ratings Changes

META has been the subject of several research analyst reports. KeyCorp lifted their price objective on Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Morgan Stanley lifted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Citigroup increased their price objective on shares of Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Oppenheimer lifted their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, TD Securities lifted their price objective on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

View Our Latest Research Report on META

Institutional Investors Weigh In On Meta Platforms

A number of institutional investors and hedge funds have recently modified their holdings of the business. Baird Financial Group Inc. boosted its stake in shares of Meta Platforms by 24.2% during the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after purchasing an additional 163,067 shares during the period. California State Teachers Retirement System grew its stake in Meta Platforms by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after acquiring an additional 51,900 shares in the last quarter. Donoghue Forlines LLC grew its stake in Meta Platforms by 94.4% in the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock worth $2,955,000 after acquiring an additional 4,054 shares in the last quarter. Voyager Global Management LP increased its position in shares of Meta Platforms by 37.3% during the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after acquiring an additional 140,000 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. raised its stake in shares of Meta Platforms by 400.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company’s stock valued at $885,000 after acquiring an additional 2,000 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

About Meta Platforms

(Get Free Report)

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.