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

by · The Cerbat Gem

Meta Platforms, Inc. (NASDAQ:META – Get Free Report) insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $626.66, for a total value of $567,127.30. Following the completion of the transaction, the insider now directly owns 34,725 shares of the company’s stock, valued at approximately $21,760,768.50. The trade was a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

  • On Tuesday, December 10th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $618.00, for a total value of $559,290.00.
  • On Tuesday, December 3rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $595.00, for a total transaction of $538,475.00.
  • On Tuesday, November 26th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $565.30, for a total transaction of $511,596.50.
  • On Tuesday, November 5th, Jennifer Newstead sold 901 shares of Meta Platforms stock. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70.
  • On Tuesday, October 29th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $580.10, for a total value of $524,990.50.
  • On Tuesday, October 22nd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $574.70, for a total value of $520,103.50.
  • On Tuesday, October 15th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $589.97, for a total value of $533,922.85.
  • On Tuesday, October 8th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $589.89, for a total transaction of $533,850.45.
  • On Tuesday, October 1st, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $578.55, for a total transaction of $523,587.75.

Meta Platforms Stock Down 1.7 %

NASDAQ:META opened at $585.25 on Friday. Meta Platforms, Inc. has a twelve month low of $340.01 and a twelve month high of $638.40. The firm has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 1.39 and a beta of 1.20. 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 $585.56 and its two-hundred day moving average price is $541.98.

Meta Platforms (NASDAQ:META – Get Free Report) last issued its 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 business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities research analysts expect that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Monday, December 16th. Meta Platforms’s payout ratio is currently 9.42%.

Wall Street Analysts Forecast Growth

META has been the topic of several research reports. Bank of America upped their price objective on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus raised their price target on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a report on Monday, October 14th. Piper Sandler boosted their price objective on Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Truist Financial raised their target price on shares of Meta Platforms from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Finally, Pivotal Research boosted their price target on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued 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.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $638.00.

Get Our Latest Stock Report on META

Hedge Funds Weigh In On Meta Platforms

A number of institutional investors have recently bought and sold shares of META. Charles Schwab Investment Management Inc. raised its stake in Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after acquiring an additional 118,298 shares during the period. LS Investment Advisors LLC raised its position in shares of Meta Platforms by 111.4% in the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after purchasing an additional 6,155 shares during the period. Cutter & CO Brokerage Inc. lifted its stake in shares of Meta Platforms by 0.7% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after buying an additional 65 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Meta Platforms by 1.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock worth $235,872,000 after buying an additional 5,594 shares during the period. Finally, M&G PLC grew its stake in Meta Platforms by 14.6% in the 3rd quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock valued at $412,606,000 after buying an additional 91,773 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

About Meta Platforms

(Get Free Report)

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.

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