Insider Selling: Meta Platforms, Inc. (NASDAQ:META) CEO Sells 2,054 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg sold 2,054 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $501.05, for a total transaction of $1,029,156.70. Following the transaction, the chief executive officer now owns 253,000 shares in the company, valued at $126,765,650. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, June 14th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The shares were sold at an average price of $503.34, for a total transaction of $8,406,784.68.
• On Tuesday, June 11th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The shares were sold at an average price of $503.18, for a total transaction of $8,404,112.36.
• On Thursday, June 6th, Mark Zuckerberg sold 2,011 shares of Meta Platforms stock. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12.
• On Monday, April 1st, Mark Zuckerberg sold 31,465 shares of Meta Platforms stock. The shares were sold at an average price of $491.49, for a total transaction of $15,464,732.85.
• On Wednesday, March 27th, Mark Zuckerberg sold 31,493 shares of Meta Platforms stock. The shares were sold at an average price of $492.14, for a total transaction of $15,498,965.02.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $498.91 on Tuesday. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49. The firm’s 50-day moving average price is $478.58 and its two-hundred day moving average price is $450.54. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 1.30 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. On average, equities analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s payout ratio is 11.49%.

Hedge Funds Weigh In On Meta Platforms

A number of large investors have recently modified their holdings of META. Stone House Investment Management LLC lifted its position in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares during the period. Quest Partners LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $32,000. Clear Investment Research LLC lifted its holdings in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the period. Finally, Delos Wealth Advisors LLC lifted its holdings in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. BMO Capital Markets reaffirmed a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a research note on Wednesday, June 12th. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. UBS Group cut their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Piper Sandler reissued an “overweight” rating and set a $545.00 target price (down previously from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Finally, Wells Fargo & Company cut their target price on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $510.05.

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.