Meta Platforms, Inc. (NASDAQ:META) CEO Sells $8,693,056.96 in Stock

Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $520.48, for a total transaction of $8,693,056.96. Following the completion of the sale, the chief executive officer now directly owns 2,657 shares in the company, valued at approximately $1,382,915.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, August 28th, Mark Zuckerberg sold 7,975 shares of Meta Platforms stock. The stock was sold at an average price of $516.36, for a total transaction of $4,117,971.00.
• On Friday, August 23rd, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The shares were sold at an average price of $531.46, for a total value of $8,876,444.92.
• On Monday, August 19th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The stock was sold at an average price of $526.94, for a total value of $8,800,951.88.
• On Wednesday, August 21st, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The shares were sold at an average price of $533.24, for a total value of $8,906,174.48.
• On Friday, August 16th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The stock was sold at an average price of $529.09, for a total value of $8,836,861.18.
• On Monday, August 12th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The stock was sold at an average price of $514.89, for a total transaction of $8,599,692.78.
• On Wednesday, August 14th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02.
• On Friday, August 9th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The stock was sold at an average price of $513.09, for a total transaction of $8,569,629.18.
• On Wednesday, August 7th, Mark Zuckerberg sold 6,534 shares of Meta Platforms stock. The shares were sold at an average price of $505.04, for a total transaction of $3,299,931.36.
• On Friday, August 2nd, Mark Zuckerberg sold 150 shares of Meta Platforms stock. The stock was sold at an average price of $500.49, for a total value of $75,073.50.

Meta Platforms Price Performance

Shares of META opened at $521.31 on Friday. The company has a market capitalization of $1.32 trillion, a P/E ratio of 29.94, a P/E/G ratio of 1.27 and a beta of 1.21. The business’s 50-day moving average is $504.85 and its two-hundred day moving average is $492.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.23 EPS. Research analysts predict that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

META has been the subject of several research reports. Truist Financial upped their target price on Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Oppenheimer upped their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Tigress Financial boosted their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus increased their price objective on shares of Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $574.41.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Meta Platforms in the 4th quarter worth about $32,000. Clear Investment Research LLC raised its stake in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $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 in the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at $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 in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

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.