Meta Platforms, Inc. (NASDAQ:META) Director Sells $298,418.75 in Stock

by · The Cerbat Gem

Meta Platforms, Inc. (NASDAQ:META – Get Free Report) Director Robert M. Kimmitt sold 475 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $628.25, for a total value of $298,418.75. Following the completion of the transaction, the director now directly owns 10,272 shares of the company’s stock, valued at $6,453,384. The trade was a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Meta Platforms Stock Performance

Meta Platforms stock opened at $635.50 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The company has a market cap of $1.60 trillion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The stock’s 50-day moving average is $573.28 and its 200-day moving average is $608.00.

Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the firm posted $4.71 earnings per share. Meta Platforms’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on META shares. Monness Crespi & Hardt upped their target price on Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Susquehanna reduced their price target on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. Royal Bank of Canada reissued an “outperform” rating and set a $740.00 price objective on shares of Meta Platforms in a research note on Thursday, May 1st. Oppenheimer lifted their price objective on Meta Platforms from $650.00 to $665.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Finally, Truist Financial increased their target price on Meta Platforms from $700.00 to $720.00 and gave the company a “buy” rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $701.05.

Check Out Our Latest Analysis on META

Hedge Funds Weigh In On Meta Platforms

Hedge funds have recently made changes to their positions in the business. Ballentine Partners LLC lifted its stake in shares of Meta Platforms by 1.4% during the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock worth $34,087,000 after purchasing an additional 808 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Meta Platforms by 0.6% in the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock valued at $82,314,000 after buying an additional 897 shares in the last quarter. Suvretta Capital Management LLC raised its holdings in shares of Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock valued at $99,735,000 after buying an additional 1,850 shares during the period. Skye Global Management LP lifted its position in Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock worth $44,616,000 after acquiring an additional 43,200 shares in the last quarter. Finally, Brueske Advisory Services LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $459,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Company Profile

(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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