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

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total value of $486,636.60. Following the sale, the insider now owns 36,912 shares in the company, valued at approximately $19,848,320.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, September 10th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $507.63, for a total value of $459,405.15.
• 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 transaction of $481,650.05.
• On Monday, August 5th, Jennifer Newstead sold 901 shares of Meta Platforms stock. The shares were 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 stock was 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 value 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.

Meta Platforms Stock Performance

NASDAQ META opened at $561.35 on Friday. The firm’s fifty day moving average price is $507.58 and its two-hundred day moving average price is $497.22. The stock has a market cap of $1.42 trillion, a PE ratio of 32.24, a PEG ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 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 $564.50.

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

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be given a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analyst Ratings Changes

META has been the topic of a number of research reports. Raymond James upped their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research note on Monday, July 1st. Wells Fargo & Company upped their target price on Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Wolfe Research began coverage on Meta Platforms in a report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target for the company. Wedbush restated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research note on Wednesday, July 24th. Finally, DA Davidson assumed coverage on Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective on the stock. Two investment 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. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $577.26.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds have recently made changes to their positions in META. Anchor Investment Management LLC increased its position in Meta Platforms by 0.4% during the 2nd quarter. Anchor Investment Management LLC now owns 20,112 shares of the social networking company’s stock valued at $10,141,000 after purchasing an additional 83 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after purchasing an additional 661,923 shares during the last quarter. University of Texas Texas AM Investment Management Co. boosted its stake in shares of Meta Platforms by 7.6% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 14,495 shares of the social networking company’s stock valued at $7,309,000 after purchasing an additional 1,024 shares during the last quarter. American Trust increased its position in shares of Meta Platforms by 2.8% during the second quarter. American Trust now owns 3,267 shares of the social networking company’s stock worth $1,647,000 after buying an additional 88 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its stake in Meta Platforms by 46.4% during the second quarter. Newbridge Financial Services Group Inc. now owns 9,962 shares of the social networking company’s stock worth $5,023,000 after buying an additional 3,158 shares during the last quarter. 79.91% 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.