Meta Platforms (NASDAQ:META) Stock Price Down 0.1% After Insider Selling

Meta Platforms, Inc. (NASDAQ:METAGet Free Report)’s share price dropped 0.1% during trading on Wednesday following insider selling activity. The company traded as low as $474.46 and last traded at $479.62. Approximately 2,203,428 shares traded hands during trading, a decline of 87% from the average daily volume of 17,254,469 shares. The stock had previously closed at $479.92.

Specifically, COO Javier Olivan sold 490 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $492.13, for a total value of $241,143.70. Following the sale, the chief operating officer now owns 10,519 shares in the company, valued at approximately $5,176,715.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $492.13, for a total value of $241,143.70. Following the transaction, the chief operating officer now directly owns 10,519 shares of the company’s stock, valued at approximately $5,176,715.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $495.00, for a total value of $289,575.00. Following the sale, the insider now owns 41,323 shares of the company’s stock, valued at approximately $20,454,885. The disclosure for this sale can be found here. Insiders have sold a total of 731,469 shares of company stock valued at $363,443,903 over the last 90 days. 13.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

META has been the subject of several recent research reports. Evercore ISI boosted their price target on Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Loop Capital decreased their price target on Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. BMO Capital Markets upped their price objective on shares of Meta Platforms from $397.00 to $450.00 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. decreased their target price on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Finally, Bank of America boosted their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $509.80.

View Our Latest Research Report on Meta Platforms

Meta Platforms Trading Down 0.5 %

The firm’s 50 day simple moving average is $483.37 and its two-hundred day simple moving average is $428.95. The stock has a market capitalization of $1.21 trillion, a P/E ratio of 27.55, a P/E/G ratio of 1.24 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, analysts forecast that Meta Platforms, Inc. will post 20.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Meta Platforms

A number of institutional investors have recently modified their holdings of the company. Stone House Investment Management LLC increased its position in shares of Meta Platforms by 625.0% during the third 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 in the last quarter. Beaird Harris Wealth Management LLC increased its holdings in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth approximately $32,000. Clear Investment Research LLC lifted its holdings 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 purchasing an additional 74 shares in the last quarter. Finally, Delos Wealth Advisors LLC boosted its position in shares of Meta Platforms by 527.3% during the first 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. 79.91% of the stock is owned by institutional investors and hedge funds.

About Meta Platforms

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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.

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