Meta Platforms, Inc. (NASDAQ:META) Insider Jennifer Newstead Sells 576 Shares

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 576 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $466.33, for a total value of $268,606.08. Following the transaction, the insider now directly owns 36,067 shares in the company, valued at $16,819,124.11. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, April 30th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25.
• On Tuesday, April 23rd, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $491.25, for a total value of $287,381.25.
• On Tuesday, April 16th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $498.59, for a total value of $291,675.15.
• On Tuesday, April 9th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00.
• On Tuesday, April 2nd, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $485.00, for a total value of $283,725.00.
• On Tuesday, March 26th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $505.29, for a total transaction of $295,594.65.
• On Tuesday, March 19th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $488.50, for a total transaction of $285,772.50.
• On Tuesday, March 12th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $493.75, for a total transaction of $288,843.75.
• On Tuesday, March 5th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $495.00, for a total transaction of $289,575.00.
• On Tuesday, February 27th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $480.00, for a total value of $280,800.00.

Meta Platforms Stock Performance

NASDAQ:META opened at $476.92 on Friday. The stock has a market capitalization of $1.21 trillion, a PE ratio of 27.31, a P/E/G ratio of 1.18 and a beta of 1.21. Meta Platforms, Inc. has a fifty-two week low of $231.45 and a fifty-two week high of $531.49. The company has a fifty day moving average of $489.50 and a two-hundred day moving average of $412.64. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, research analysts forecast that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Waldron Private Wealth LLC increased its position in shares of Meta Platforms by 1.8% during the 3rd quarter. Waldron Private Wealth LLC now owns 28,961 shares of the social networking company’s stock worth $8,694,000 after purchasing an additional 517 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Meta Platforms by 3.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,134 shares of the social networking company’s stock worth $3,496,000 after acquiring an additional 368 shares during the last quarter. Advisor Partners II LLC boosted its position in shares of Meta Platforms by 6.8% during the 3rd quarter. Advisor Partners II LLC now owns 104,094 shares of the social networking company’s stock worth $31,250,000 after purchasing an additional 6,606 shares during the period. Peoples Bank OH increased its holdings in Meta Platforms by 3.5% in the 3rd quarter. Peoples Bank OH now owns 3,656 shares of the social networking company’s stock valued at $1,098,000 after purchasing an additional 123 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position in Meta Platforms by 1.0% in the third quarter. Park Avenue Securities LLC now owns 43,980 shares of the social networking company’s stock valued at $13,203,000 after purchasing an additional 448 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

META has been the subject of a number of recent research reports. Monness Crespi & Hardt lifted their price objective on shares of Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Evercore ISI upped their price objective on shares of Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Canaccord Genuity Group lifted their target price on shares of Meta Platforms from $450.00 to $540.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Guggenheim dropped their price objective on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, TD Cowen cut their price objective on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.80.

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.