Meta Platforms, Inc. (NASDAQ:META) CEO Sells $9,345,763.03 in Stock

Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg sold 28,009 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $333.67, for a total transaction of $9,345,763.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mark Zuckerberg also recently made the following trade(s):

• On Wednesday, November 15th, Mark Zuckerberg sold 28,009 shares of Meta Platforms stock. The stock was sold at an average price of $333.84, for a total transaction of $9,350,524.56.
• On Monday, November 13th, Mark Zuckerberg sold 28,009 shares of Meta Platforms stock. The stock was sold at an average price of $330.05, for a total transaction of $9,244,370.45.
• On Friday, November 10th, Mark Zuckerberg sold 28,009 shares of Meta Platforms stock. The stock was sold at an average price of $325.80, for a total transaction of $9,125,332.20.
• On Wednesday, November 8th, Mark Zuckerberg sold 28,009 shares of Meta Platforms stock. The stock was sold at an average price of $318.11, for a total transaction of $8,909,942.99.
• On Monday, November 6th, Mark Zuckerberg sold 28,009 shares of Meta Platforms stock. The stock was sold at an average price of $316.16, for a total transaction of $8,855,325.44.
• On Thursday, November 2nd, Mark Zuckerberg sold 28,009 shares of Meta Platforms stock. The stock was sold at an average price of $310.60, for a total transaction of $8,699,595.40.

Meta Platforms Stock Up 1.5 %

NASDAQ META traded up $4.93 during mid-day trading on Monday, hitting $339.97. The company’s stock had a trading volume of 16,962,536 shares, compared to its average volume of 25,238,586. The company’s 50 day simple moving average is $312.20 and its 200 day simple moving average is $293.76. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $873.68 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 1.10 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $108.32 and a twelve month high of $341.87.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 25th. The social networking company reported $4.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.77. Meta Platforms had a return on equity of 26.40% and a net margin of 23.42%. The business had revenue of $34.15 billion for the quarter, compared to analysts’ expectations of $33.58 billion. During the same period in the previous year, the business posted $1.64 EPS. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. Analysts anticipate that Meta Platforms, Inc. will post 14.18 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on META shares. Guggenheim increased their price objective on shares of Meta Platforms from $375.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, September 27th. CICC Research assumed coverage on shares of Meta Platforms in a research report on Monday, August 28th. They set an “outperform” rating on the stock. Roth Mkm raised their price target on shares of Meta Platforms from $360.00 to $365.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Wells Fargo & Company raised their price target on shares of Meta Platforms from $372.00 to $380.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $348.26.

Institutional Investors Weigh In On Meta Platforms

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fairfield Bush & CO. purchased a new position in shares of Meta Platforms during the first quarter worth about $66,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Meta Platforms by 12.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,244,201 shares of the social networking company’s stock worth $499,020,000 after purchasing an additional 249,926 shares in the last quarter. Ergoteles LLC grew its holdings in shares of Meta Platforms by 284.0% during the first quarter. Ergoteles LLC now owns 3,356 shares of the social networking company’s stock worth $746,000 after purchasing an additional 2,482 shares in the last quarter. First Western Trust Bank purchased a new stake in Meta Platforms in the first quarter worth approximately $813,000. Finally, Oxford Financial Group Ltd. boosted its stake in Meta Platforms by 26.9% in the first quarter. Oxford Financial Group Ltd. now owns 1,888 shares of the social networking company’s stock worth $420,000 after buying an additional 400 shares in the last quarter. 62.87% of the stock is currently owned by institutional investors.

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.