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

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the sale, the insider now directly owns 37,817 shares in the company, valued at $19,197,043.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, September 3rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $520.00, for a total transaction of $470,600.00.
• On Tuesday, August 27th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $519.05, for a total transaction of $469,740.25.
• On Tuesday, August 20th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $528.38, for a total transaction of $478,183.90.
• On Friday, August 16th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $532.21, for a total value of $481,650.05.
• On Monday, August 5th, Jennifer Newstead sold 901 shares of Meta Platforms stock. The stock was sold at an average price of $451.15, for a total value of $406,486.15.
• On Tuesday, July 23rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $489.80, for a total value of $443,269.00.
• On Tuesday, July 16th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $501.42, for a total transaction of $453,785.10.
• On Tuesday, July 9th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $533.95, for a total transaction of $483,224.75.
• On Tuesday, July 2nd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $500.57, for a total transaction of $453,015.85.
• On Tuesday, June 25th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $496.99, for a total value of $449,775.95.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $525.60 on Friday. The company has a market capitalization of $1.33 trillion, a PE ratio of 30.19, a PEG ratio of 1.26 and a beta of 1.21. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average price is $505.44 and its 200-day moving average price is $495.07. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period last year, the company posted $3.23 earnings per share. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.38%. Meta Platforms’s payout ratio is currently 11.49%.

Institutional Trading of Meta Platforms

Several hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $32,000. Clear Investment Research LLC raised its stake in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the period. Delos Wealth Advisors LLC lifted its position in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the 2nd quarter worth $38,000. Finally, Ruedi Wealth Management Inc. increased its holdings in 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 acquiring an additional 44 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on META shares. Bank of America raised their price objective on Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Evercore ISI boosted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Cantor Fitzgerald assumed coverage on shares of Meta Platforms in a research note on Thursday, September 5th. They issued an “overweight” rating and a $660.00 price objective on the stock. UBS Group lifted their target price on shares of Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Truist Financial upped their price target on shares of Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $577.26.

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.