Meta Platforms (NASDAQ:META) Shares Down 2.2% on Insider Selling

Meta Platforms, Inc. (NASDAQ:META)’s share price fell 2.2% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $598.45 and last traded at $602.54. 4,245,541 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 11,967,252 shares. The stock had previously closed at $615.86.

Specifically, CEO Mark Zuckerberg sold 12,975 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $615.41, for a total value of $7,984,944.75. Following the transaction, the chief executive officer now owns 381,290 shares of the company’s stock, valued at $234,649,678.90. This trade represents a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $631.55, for a total value of $571,552.75. Following the transaction, the insider now directly owns 32,010 shares of the company’s stock, valued at $20,215,915.50. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CEO Mark Zuckerberg sold 12,975 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $618.42, for a total transaction of $8,023,999.50. Following the completion of the transaction, the chief executive officer now owns 420,215 shares in the company, valued at $259,869,360.30. The trade was a 3.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on META. Pivotal Research raised their target price on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Susquehanna lifted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research report on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a research report on Wednesday, October 16th. Truist Financial lifted their price target on Meta Platforms from $650.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Finally, Guggenheim increased their price objective on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $650.05.

Meta Platforms Price Performance

The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $594.58 and its two-hundred day moving average price is $554.18. The firm has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 28.65, a P/E/G ratio of 1.36 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is 9.42%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of META. Lindenwold Advisors INC increased its position in Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after buying an additional 17 shares during the last quarter. Insight Wealth Strategies LLC raised its stake in shares of Meta Platforms by 1.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock valued at $625,000 after acquiring an additional 17 shares in the last quarter. Central Valley Advisors LLC lifted its holdings in Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after purchasing an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC boosted its position in Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares during the period. Finally, Alliance Wealth Advisors LLC grew its holdings in Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after purchasing an additional 18 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

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.