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

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total transaction of $449,775.95. Following the completion of the transaction, the insider now directly owns 38,750 shares of the company's stock, valued at $19,258,362.50. 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, June 11th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $500.00, for a total transaction of $452,500.00.
• On Tuesday, June 4th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $477.00, for a total transaction of $431,685.00.
• On Tuesday, May 28th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $476.69, for a total transaction of $431,404.45.
• On Tuesday, May 21st, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $467.57, for a total transaction of $423,150.85.
• On Tuesday, May 7th, Jennifer Newstead sold 576 shares of Meta Platforms stock. The stock was sold at an average price of $466.33, for a total transaction of $268,606.08.
• On Tuesday, April 30th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25.
• On Tuesday, April 23rd, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $491.25, for a total transaction of $287,381.25.
• On Tuesday, April 16th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $498.59, for a total transaction of $291,675.15.
• On Tuesday, April 9th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00.
• On Tuesday, April 2nd, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $485.00, for a total transaction of $283,725.00.

Meta Platforms Price Performance

Shares of NASDAQ META traded up $6.44 during mid-day trading on Thursday, reaching $519.56. The company's stock had a trading volume of 10,095,778 shares, compared to its average volume of 16,449,436. The stock has a 50-day moving average of $479.53 and a two-hundred day moving average of $452.69. The stock has a market capitalization of $1.32 trillion, a P/E ratio of 29.84, a P/E/G ratio of 1.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META - Get 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 analysts' expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms's dividend payout ratio (DPR) is 11.49%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on META shares. Citigroup lowered their price objective on shares of Meta Platforms from $590.00 to $550.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. Wolfe Research reduced their price target on shares of Meta Platforms from $530.00 to $500.00 and set an "outperform" rating for the company in a report on Thursday, April 25th. BNP Paribas began coverage on shares of Meta Platforms in a report on Thursday, May 2nd. They issued an "underperform" rating and a $360.00 price target for the company. JMP Securities restated a "market outperform" rating and issued a $550.00 price target on shares of Meta Platforms in a report on Monday, April 22nd. Finally, Truist Financial reduced their price target on shares of Meta Platforms from $550.00 to $535.00 and set a "buy" rating for the company in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $510.05.

Institutional Investors Weigh In On Meta Platforms

Several hedge funds and other institutional investors have recently bought and sold shares of META. Staley Capital Advisers Inc. boosted its stake in Meta Platforms by 1.9% during the third quarter. Staley Capital Advisers Inc. now owns 1,975 shares of the social networking company's stock worth $593,000 after buying an additional 36 shares during the period. CWA Asset Management Group LLC boosted its stake in Meta Platforms by 27.3% during the third quarter. CWA Asset Management Group LLC now owns 10,374 shares of the social networking company's stock worth $3,114,000 after buying an additional 2,227 shares during the period. Tenzing Global Management LLC boosted its stake in Meta Platforms by 650.0% during the third quarter. Tenzing Global Management LLC now owns 37,500 shares of the social networking company's stock worth $11,258,000 after buying an additional 32,500 shares during the period. One01 Capital LP boosted its stake in Meta Platforms by 1.4% during the third quarter. One01 Capital LP now owns 22,902 shares of the social networking company's stock worth $6,875,000 after buying an additional 326 shares during the period. Finally, MBB Public Markets I LLC boosted its stake in Meta Platforms by 1,018.8% during the third quarter. MBB Public Markets I LLC now owns 10,517 shares of the social networking company's stock worth $3,157,000 after buying an additional 9,577 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

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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