Meta Platforms, Inc. (NASDAQ:META) Insider Jennifer Newstead Sells 585 Shares

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• 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 stock was 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 shares were sold at an average price of $522.00, for a total value 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 transaction of $283,725.00.
• On Tuesday, March 26th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was 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 value of $288,843.75.
• On Tuesday, March 5th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $495.00, for a total value of $289,575.00.
• On Tuesday, February 27th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $480.00, for a total value of $280,800.00.
• On Tuesday, February 20th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $469.88, for a total value of $274,879.80.

Meta Platforms Stock Up 2.3 %

META stock opened at $451.96 on Friday. The stock has a market cap of $1.15 trillion, a P/E ratio of 25.96, a PEG ratio of 1.14 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $229.85 and a twelve month high of $531.49. The company’s 50 day moving average is $491.36 and its two-hundred day moving average is $407.43.

Meta Platforms (NASDAQ:META) last announced 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. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Research analysts expect that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal year.

Institutional Trading of Meta Platforms

Institutional investors and hedge funds have recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. boosted its holdings in shares of Meta Platforms by 2.4% in the first quarter. Riggs Asset Managment Co. Inc. now owns 5,066 shares of the social networking company’s stock valued at $2,460,000 after acquiring an additional 117 shares during the period. Valley Wealth Managers Inc. purchased a new position in Meta Platforms during the 1st quarter worth $388,000. Team Hewins LLC increased its stake in Meta Platforms by 0.8% in the first quarter. Team Hewins LLC now owns 27,048 shares of the social networking company’s stock valued at $13,134,000 after purchasing an additional 221 shares during the period. Csenge Advisory Group raised its holdings in shares of Meta Platforms by 7.6% in the first quarter. Csenge Advisory Group now owns 11,569 shares of the social networking company’s stock valued at $5,618,000 after buying an additional 818 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its stake in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on META. Wells Fargo & Company dropped their price objective on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Stifel Nicolaus lifted their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Susquehanna increased their price objective on Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a research report on Friday, February 2nd. Canaccord Genuity Group lifted their target price on Meta Platforms from $450.00 to $540.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given 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, Meta Platforms has an average rating of “Moderate Buy” and an average 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.