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

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total transaction of $449,775.95. Following the completion of the transaction, the insider now directly owns 38,750 shares in the company, valued at $19,258,362.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, June 11th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was 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.
• On Tuesday, May 28th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $476.69, for a total transaction of $431,404.45.
• On Tuesday, May 21st, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $467.57, for a total transaction of $423,150.85.
• On Tuesday, May 7th, Jennifer Newstead sold 576 shares of Meta Platforms stock. The stock was sold at an average price of $466.33, for a total transaction of $268,606.08.
• On Tuesday, April 30th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25.
• On Tuesday, April 23rd, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $491.25, for a total transaction of $287,381.25.
• On Tuesday, April 16th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $498.59, for a total transaction of $291,675.15.
• On Tuesday, April 9th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00.
• On Tuesday, April 2nd, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $485.00, for a total transaction of $283,725.00.

Meta Platforms Stock Up 1.3 %

Shares of NASDAQ META opened at $519.56 on Friday. The firm has a market cap of $1.32 trillion, a PE ratio of 29.84, a P/E/G ratio of 1.33 and a beta of 1.21. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $531.49. The company’s fifty day simple moving average is $479.53 and its 200 day simple moving average is $452.69. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

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

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Jefferies Financial Group reduced their target price on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. KeyCorp increased their target price on shares of Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. TD Cowen reduced their target price on shares of Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Oppenheimer cut their price target on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $510.05.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares in the last quarter. Capital World Investors increased its stake in shares of Meta Platforms by 0.6% in the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after purchasing an additional 244,803 shares in the last quarter. Morgan Stanley increased its stake in shares of Meta Platforms by 3.4% in the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after purchasing an additional 1,184,978 shares in the last quarter. Capital International Investors increased its stake in shares of Meta Platforms by 3.2% in the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

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.