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

Posted by MarketBeat News on Aug 31st, 2024

Meta Platforms, Inc. (NASDAQ:META – Get Free Report) insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $519.05, for a total value of $469,740.25. Following the completion of the sale, the insider now owns 39,627 shares in the company, valued at $20,568,394.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

On Tuesday, August 20th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $528.38, for a total value of $478,183.90.
On Friday, August 16th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $532.21, for a total value of $481,650.05.
On Monday, August 5th, Jennifer Newstead sold 901 shares of Meta Platforms stock. The shares were sold at an average price of $451.15, for a total value of $406,486.15.
On Tuesday, July 23rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $489.80, for a total transaction of $443,269.00.
On Tuesday, July 16th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $501.42, for a total transaction of $453,785.10.
On Tuesday, July 9th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $533.95, for a total transaction of $483,224.75.
On Tuesday, July 2nd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $500.57, for a total transaction of $453,015.85.
On Tuesday, June 25th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $496.99, for a total value of $449,775.95.
On Tuesday, June 11th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $500.00, for a total value 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 value of $431,685.00.

Meta Platforms Trading Up 0.6 %

NASDAQ META opened at $521.31 on Friday. The firm has a market capitalization of $1.32 trillion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $544.23. The company has a 50-day simple moving average of $504.85 and a 200-day simple moving average of $492.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83.

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Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating 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 quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.23 earnings per share. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in META. Vanguard Group Inc. grew its position in shares of Meta Platforms by 0.4% during 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 acquiring an additional 831,047 shares during 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 valued at $18,597,382,000 after purchasing an additional 244,803 shares during the period. Capital International Investors raised its holdings in shares of Meta Platforms by 3.2% during the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after buying an additional 1,083,719 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after buying an additional 4,379,826 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $11,285,855,000. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

META has been the subject of a number of research analyst reports. JMP Securities reissued a “market outperform” rating and set a $525.00 target price on shares of Meta Platforms in a research report on Tuesday, July 30th. Truist Financial raised their target price on shares of Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wedbush restated an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a report on Wednesday, July 24th. Raymond James increased their price target on Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a report on Monday, July 1st. Finally, UBS Group raised their price objective on Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $574.41.

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About Meta Platforms

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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.