Jennifer Newstead Sells 907 Shares of Meta Platforms, Inc. (NASDAQ:META) Stock

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 907 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $645.77, for a total value of $585,713.39. Following the transaction, the insider now owns 24,749 shares of the company’s stock, valued at $15,982,161.73. This trade represents a 3.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, May 6th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $592.52, for a total value of $545,710.92.
• On Tuesday, April 29th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $545.17, for a total value of $502,101.57.
• On Tuesday, April 22nd, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $491.87, for a total value of $453,012.27.
• On Tuesday, April 15th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $531.22, for a total value of $489,253.62.
• On Tuesday, April 8th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $543.39, for a total value of $500,462.19.
• On Tuesday, April 1st, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $570.66, for a total value of $525,577.86.
• On Tuesday, March 25th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $627.05, for a total value of $577,513.05.
• On Tuesday, March 18th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $600.25, for a total value of $552,830.25.
• On Tuesday, March 11th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $595.00, for a total value of $547,995.00.
• On Tuesday, March 4th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $644.00, for a total value of $593,124.00.

Meta Platforms Stock Performance

Meta Platforms stock opened at $640.34 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $571.37 and a 200-day moving average of $606.72. The firm has a market cap of $1.62 trillion, a P/E ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the business posted $4.71 earnings per share. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Institutional Trading of Meta Platforms

A number of institutional investors have recently modified their holdings of META. Inlight Wealth Management LLC purchased a new stake in Meta Platforms in the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Meta Platforms in the first quarter worth about $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Meta Platforms in the first quarter worth about $33,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the fourth quarter worth about $40,000. Finally, WealthTrak Capital Management LLC purchased a new stake in Meta Platforms in the fourth quarter worth about $43,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

META has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Meta Platforms from $610.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. TD Securities decreased their target price on Meta Platforms from $725.00 to $700.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. UBS Group upped their target price on Meta Platforms from $650.00 to $683.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Susquehanna cut their price target on Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. Finally, Oppenheimer upped their target price on Meta Platforms from $650.00 to $665.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $701.05.

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.