Meta Platforms, Inc. (NASDAQ:META) Insider Jennifer Newstead Sells 905 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total value of $511,596.50. Following the completion of the transaction, the insider now directly owns 37,790 shares of the company’s stock, valued at approximately $21,362,687. This trade represents a 2.34 % decrease in their position. The transaction 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 stock was sold at an average price of $580.10, for a total transaction of $524,990.50.
• On Tuesday, October 22nd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $574.70, for a total transaction of $520,103.50.
• On Tuesday, October 15th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were 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 stock was sold at an average price of $578.55, for a total transaction 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 transaction of $486,636.60.
• On Tuesday, September 10th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15.
• On Tuesday, September 3rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $520.00, for a total transaction of $470,600.00.

Meta Platforms Stock Down 0.8 %

META stock opened at $569.20 on Thursday. The firm has a market capitalization of $1.44 trillion, a PE ratio of 26.81, a P/E/G ratio of 1.25 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The stock’s 50 day moving average is $574.12 and its 200-day moving average is $526.03.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Sell-side analysts expect that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds and other institutional investors have recently modified their holdings of META. JDM Financial Group LLC purchased a new position in Meta Platforms in the third quarter worth $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at $36,000. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms during the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. boosted its holdings in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the last quarter. Finally, Halpern Financial Inc. bought a new position in Meta Platforms during the third quarter valued at about $46,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on META shares. Robert W. Baird upped their target price on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Truist Financial lifted their target price on shares of Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Finally, Scotiabank cut their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

Meta Platforms Company Profile

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.