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

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $519.05, for a total transaction of $469,740.25. Following the sale, the insider now directly owns 39,627 shares of the company's stock, valued at $20,568,394.35. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, August 20th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were 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 stock was 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 transaction of $453,785.10.
• On Tuesday, July 9th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were 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 shares were sold at an average price of $500.57, for a total value of $453,015.85.
• On Tuesday, June 25th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95.
• On Tuesday, June 11th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were 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.

Meta Platforms Stock Performance

Shares of META stock traded up $1.44 during trading hours on Thursday, reaching $518.22. 8,311,325 shares of the company's stock were exchanged, compared to its average volume of 16,032,286. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The company's 50 day moving average is $503.99 and its two-hundred day moving average is $492.19. The company has a market cap of $1.31 trillion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company's quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.23 EPS. Equities research analysts anticipate that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Meta Platforms

Large investors have recently modified their holdings of the company. SRN Advisors LLC raised its stake in shares of Meta Platforms by 127.4% during the second quarter. SRN Advisors LLC now owns 5,547 shares of the social networking company's stock valued at $2,797,000 after purchasing an additional 3,108 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Meta Platforms during the 2nd quarter worth approximately $7,487,000. Heritage Oak Wealth Advisors LLC bought a new stake in Meta Platforms in the second quarter valued at $462,000. Souders Financial Advisors boosted its stake in Meta Platforms by 4.2% during the 2nd quarter. Souders Financial Advisors now owns 6,219 shares of the social networking company's stock valued at $3,136,000 after purchasing an additional 250 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Meta Platforms during the second quarter worth approximately $1,963,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wolfe Research initiated coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They issued an "outperform" rating and a $620.00 target price on the stock. UBS Group raised their price objective on Meta Platforms from $630.00 to $635.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Barclays upped their target price on Meta Platforms from $520.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st. Tigress Financial boosted their price target on Meta Platforms from $575.00 to $645.00 and gave the stock a "strong-buy" rating in a research note on Friday, August 16th. Finally, Evercore ISI upped their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $574.41.

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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