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

Meta Platforms, Inc. (NASDAQ:METAGet Free Report) insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $495.00, for a total transaction of $289,575.00. Following the transaction, the insider now owns 41,323 shares of the company’s stock, valued at $20,454,885. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • 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, 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 shares were sold at an average price of $469.88, for a total value of $274,879.80.
  • On Tuesday, February 6th, Jennifer Newstead sold 552 shares of Meta Platforms stock. The stock was sold at an average price of $464.00, for a total value of $256,128.00.
  • On Tuesday, January 30th, Jennifer Newstead sold 566 shares of Meta Platforms stock. The stock was sold at an average price of $404.00, for a total transaction of $228,664.00.
  • On Tuesday, January 23rd, Jennifer Newstead sold 566 shares of Meta Platforms stock. The shares were sold at an average price of $385.00, for a total transaction of $217,910.00.
  • On Tuesday, January 16th, Jennifer Newstead sold 566 shares of Meta Platforms stock. The stock was sold at an average price of $373.58, for a total transaction of $211,446.28.
  • On Tuesday, January 9th, Jennifer Newstead sold 566 shares of Meta Platforms stock. The shares were sold at an average price of $356.40, for a total transaction of $201,722.40.
  • On Tuesday, January 2nd, Jennifer Newstead sold 566 shares of Meta Platforms stock. The stock was sold at an average price of $351.55, for a total value of $198,977.30.
  • On Tuesday, December 26th, Jennifer Newstead sold 566 shares of Meta Platforms stock. The stock was sold at an average price of $354.90, for a total value of $200,873.40.

Meta Platforms Trading Down 1.6 %

NASDAQ:META opened at $484.10 on Friday. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $443.48 and a 200-day simple moving average of $363.91. Meta Platforms, Inc. has a 52-week low of $193.64 and a 52-week high of $523.57. The company has a market capitalization of $1.23 trillion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm had revenue of $40.11 billion during the quarter, compared to the consensus estimate of $39.12 billion. During the same period in the previous year, the firm posted $3.00 EPS. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, equities research analysts expect that Meta Platforms, Inc. will post 19.94 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.41%. Meta Platforms’s dividend payout ratio is currently 13.42%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on META shares. Truist Financial raised their target price on Meta Platforms from $405.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Mizuho raised their price objective on shares of Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. The Goldman Sachs Group boosted their target price on shares of Meta Platforms from $414.00 to $500.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Wedbush raised their price target on shares of Meta Platforms from $420.00 to $520.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, Stifel Nicolaus increased their price objective on Meta Platforms from $405.00 to $527.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, forty have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $494.53.

Get Our Latest Research Report on META

Hedge Funds Weigh In On Meta Platforms

Institutional investors have recently modified their holdings of the company. Stone House Investment Management LLC lifted its holdings in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after acquiring an additional 75 shares during the period. Quest Partners LLC purchased a new position in Meta Platforms during the fourth quarter worth approximately $32,000. Clear Investment Research LLC boosted its holdings in shares of Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Gilfoyle & Co LLC acquired a new stake in Meta Platforms during the fourth quarter worth about $39,000. Finally, Cranbrook Wealth Management LLC grew its holdings in shares of Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 62.87% of the company’s stock.

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.

Further Reading

Insider Buying and Selling by Quarter for Meta Platforms (NASDAQ:META)

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