Meta Platforms, Inc. (NASDAQ:META) Insider Nicholas Clegg Sells 1,131 Shares

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) insider Nicholas Clegg sold 1,131 shares of the company's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $652,767.96. Following the completion of the transaction, the insider now owns 1,229 shares in the company, valued at approximately $709,329.64. This represents a 47.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Nicholas Clegg also recently made the following trade(s):

• On Monday, November 18th, Nicholas Clegg sold 7,296 shares of Meta Platforms stock. The shares were sold at an average price of $553.48, for a total transaction of $4,038,190.08.

Meta Platforms Price Performance

Shares of META traded up $6.69 during trading hours on Tuesday, reaching $561.09. 9,155,606 shares of the company's stock traded hands, compared to its average volume of 15,035,363. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.42 trillion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. The firm's 50 day simple moving average is $569.10 and its 200-day simple moving average is $521.96.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts' consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms's payout ratio is 9.42%.

Wall Street Analyst Weigh In

META has been the subject of several recent research reports. Mizuho boosted their price target on Meta Platforms from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Tigress Financial raised their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a "strong-buy" rating in a report on Friday, August 16th. DA Davidson initiated coverage on Meta Platforms in a research note on Tuesday, September 10th. They issued a "buy" rating and a $600.00 price target for the company. Finally, JMP Securities boosted their target price on shares of Meta Platforms from $635.00 to $660.00 and gave the company a "market outperform" rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus target price of $634.10.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Lindenwold Advisors INC increased its holdings in Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company's stock valued at $3,388,000 after purchasing an additional 17 shares during the period. Central Valley Advisors LLC raised its position in shares of Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company's stock worth $3,271,000 after acquiring an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC lifted its stake in shares of Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company's stock valued at $2,199,000 after purchasing an additional 18 shares during the period. Alliance Wealth Advisors LLC boosted its position in shares of Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company's stock valued at $1,595,000 after purchasing an additional 18 shares in the last quarter. Finally, Kozak & Associates Inc. boosted its holdings in shares of Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company's stock valued at $1,099,000 after buying an additional 18 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other 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.

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