Meta Platforms, Inc. (NASDAQ:META) CEO Sells $2,548,605.53 in Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) CEO Mark Zuckerberg sold 4,909 shares of the company's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $519.17, for a total transaction of $2,548,605.53. Following the completion of the sale, the chief executive officer now directly owns 519,000 shares in the company, valued at $269,449,230. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Mark Zuckerberg also recently made the following trade(s):

• On Monday, August 26th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The stock was sold at an average price of $520.48, for a total transaction of $8,693,056.96.
• On Wednesday, August 28th, Mark Zuckerberg sold 7,975 shares of Meta Platforms stock. The stock was sold at an average price of $516.36, for a total transaction of $4,117,971.00.
• On Friday, August 23rd, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The shares were sold at an average price of $531.46, for a total transaction of $8,876,444.92.
• On Monday, August 19th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The shares were sold at an average price of $526.94, for a total transaction of $8,800,951.88.
• On Wednesday, August 21st, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The shares were sold at an average price of $533.24, for a total transaction of $8,906,174.48.
• On Friday, August 16th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The shares were sold at an average price of $529.09, for a total transaction of $8,836,861.18.
• On Monday, August 12th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The shares were sold at an average price of $514.89, for a total transaction of $8,599,692.78.
• On Wednesday, August 14th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02.
• On Friday, August 9th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The shares were sold at an average price of $513.09, for a total transaction of $8,569,629.18.
• On Wednesday, August 7th, Mark Zuckerberg sold 6,534 shares of Meta Platforms stock. The shares were sold at an average price of $505.04, for a total transaction of $3,299,931.36.

Meta Platforms Price Performance

Shares of META stock traded down $9.55 on Tuesday, reaching $511.76. The company's stock had a trading volume of 12,440,470 shares, compared to its average volume of 15,968,406. The stock's fifty day simple moving average is $505.30 and its 200-day simple moving average is $493.37. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.70 by $0.46. The company 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%. Meta Platforms's revenue was up 22.1% on a year-over-year basis. During the same period last year, the company earned $3.23 earnings per share. Analysts forecast that Meta Platforms, Inc. will post 21.3 earnings per share for the current fiscal year.

Institutional Trading of Meta Platforms

A number of institutional investors have recently bought and sold shares of META. Delos Wealth Advisors LLC lifted 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 worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms during the second quarter worth $38,000. Ruedi Wealth Management Inc. lifted its position in shares of Meta Platforms by 122.2% during 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. Richardson Financial Services Inc. lifted its position in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company's stock worth $41,000 after purchasing an additional 43 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth $32,000. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Guggenheim upped their target price on shares of Meta Platforms from $500.00 to $600.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. TD Cowen upped their target price on shares of Meta Platforms from $530.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, July 10th. JMP Securities reiterated a "market outperform" rating and issued a $525.00 price objective on shares of Meta Platforms in a research note on Tuesday, July 30th. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a research note on Thursday, August 1st. Finally, Morgan Stanley increased their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $574.41.

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.

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