Insider Selling: Meta Platforms (NASDAQ:META) CFO Sells $5,589,088.80 in Stock

Meta Platforms, Inc. (NASDAQ:METAGet Free Report) CFO Susan Li sold 9,195 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $607.84, for a total value of $5,589,088.80. Following the completion of the sale, the chief financial officer owned 13,186 shares in the company, valued at approximately $8,014,978.24. The trade was a 41.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Meta Platforms Stock Performance

Shares of META opened at $607.38 on Friday. The firm has a market cap of $1.54 trillion, a PE ratio of 22.08, a PEG ratio of 1.07 and a beta of 1.25. The stock’s fifty day moving average price is $618.57 and its two-hundred day moving average price is $637.18. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.67 by $3.77. The firm had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The business’s revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the company posted $6.43 earnings per share. On average, equities research analysts forecast that Meta Platforms, Inc. will post 29.49 EPS for the current year.

Key Stories Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Institutional Investors Weigh In On Meta Platforms

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Meta Platforms by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock worth $132,015,115,000 after purchasing an additional 7,269,279 shares during the last quarter. Auto Owners Insurance Co lifted its stake in Meta Platforms by 76,587.7% during the fourth quarter. Auto Owners Insurance Co now owns 105,292,277 shares of the social networking company’s stock worth $69,502,379,000 after purchasing an additional 105,154,977 shares during the last quarter. State Street Corp lifted its stake in Meta Platforms by 5.1% during the fourth quarter. State Street Corp now owns 90,841,345 shares of the social networking company’s stock worth $59,963,463,000 after purchasing an additional 4,395,763 shares during the last quarter. Geode Capital Management LLC lifted its stake in Meta Platforms by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 52,806,712 shares of the social networking company’s stock worth $34,734,628,000 after purchasing an additional 878,396 shares during the last quarter. Finally, Capital World Investors lifted its stake in Meta Platforms by 0.8% during the fourth quarter. Capital World Investors now owns 39,558,637 shares of the social networking company’s stock worth $26,112,735,000 after purchasing an additional 310,947 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on META shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $725.00 price target (down from $825.00) on shares of Meta Platforms in a research report on Thursday, April 30th. Piper Sandler reiterated an “overweight” rating and issued a $800.00 price target (down from $880.00) on shares of Meta Platforms in a research report on Thursday, April 30th. Wolfe Research reduced their price target on Meta Platforms from $850.00 to $800.00 and set an “outperform” rating for the company in a research report on Friday, April 10th. Wells Fargo & Company reduced their price target on Meta Platforms from $770.00 to $765.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Morgan Stanley reduced their price target on Meta Platforms from $825.00 to $775.00 and set an “overweight” rating for the company in a research report on Monday, March 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $840.19.

View Our Latest Stock Analysis on Meta Platforms

Meta Platforms Company Profile

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Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

Insider Buying and Selling by Quarter for Meta Platforms (NASDAQ:META)

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