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

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $595.00, for a total value of $538,475.00. Following the sale, the insider now directly owns 36,535 shares in the company, valued at $21,738,325. This trade represents a 2.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, November 26th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $565.30, for a total transaction of $511,596.50.
• On Tuesday, November 5th, Jennifer Newstead sold 901 shares of Meta Platforms stock. The stock was sold at an average price of $567.70, for a total transaction of $511,497.70.
• On Tuesday, October 29th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $580.10, for a total transaction of $524,990.50.
• On Tuesday, October 22nd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $574.70, for a total value of $520,103.50.
• On Tuesday, October 15th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $589.97, for a total value of $533,922.85.
• On Tuesday, October 8th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $589.89, for a total value of $533,850.45.
• On Tuesday, October 1st, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $578.55, for a total value of $523,587.75.
• On Tuesday, September 17th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $537.72, for a total transaction of $486,636.60.
• 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 transaction of $459,405.15.

Meta Platforms Stock Down 0.8 %

NASDAQ META traded down $4.85 on Thursday, hitting $608.93. The stock had a trading volume of 8,065,002 shares, compared to its average volume of 14,837,941. The business’s fifty day moving average price is $577.69 and its 200 day moving average price is $530.51. The stock has a market cap of $1.54 trillion, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 1.35 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 52-week low of $317.04 and a 52-week high of $619.90.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Equities research analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. Meta Platforms’s payout ratio is currently 9.42%.

Institutional Trading of Meta Platforms

Large investors have recently bought and sold shares of the stock. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms during the third quarter valued at $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms during the 3rd quarter valued at about $36,000. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the second quarter valued at about $38,000. Ruedi Wealth Management Inc. raised its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. Finally, Halpern Financial Inc. purchased a new stake in Meta Platforms in the third quarter valued at approximately $46,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on META. UBS Group lifted their price target on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. increased their price target on Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Pivotal Research lifted their price objective on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group raised their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $634.71.

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.