Meta Platforms (NASDAQ:META) Trading Down 0% Following Insider Selling

by · The Cerbat Gem

Meta Platforms, Inc. (NASDAQ:META – Get Free Report)’s share price traded down 0% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $573.36 and last traded at $585.81. 3,439,866 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 14,238,185 shares. The stock had previously closed at $586.00.

Specifically, COO Javier Olivan sold 608 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $563.03, for a total transaction of $342,322.24. Following the completion of the sale, the chief operating officer now directly owns 6,230 shares in the company, valued at $3,507,676.90. This represents a 8.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total value of $577,513.05. Following the sale, the insider now owns 31,182 shares in the company, valued at $19,552,673.10. This represents a 2.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on META shares. Wedbush restated an “outperform” rating and issued a $770.00 price target (up previously from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Susquehanna raised their price target on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research report on Thursday, January 30th. Rosenblatt Securities reissued a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a report on Monday, January 27th. Truist Financial raised their price target on shares of Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Oppenheimer increased their price objective on shares of Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $718.55.

Get Our Latest Stock Report on Meta Platforms

Meta Platforms Stock Performance

The company has a market capitalization of $1.35 trillion, a PE ratio of 22.22, a PEG ratio of 1.42 and a beta of 1.28. The firm has a 50-day moving average of $651.00 and a two-hundred day moving average of $609.95. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META – Get Free Report) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the company posted $5.33 earnings per share. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is currently 8.78%.

Hedge Funds Weigh In On Meta Platforms

A number of large investors have recently bought and sold shares of the business. JDM Financial Group LLC purchased a new position in shares of Meta Platforms during the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms during the third quarter valued at $36,000. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at about $40,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms during the 4th quarter worth about $41,000. Finally, WealthTrak Capital Management LLC purchased a new position in Meta Platforms in the 4th quarter valued at about $43,000. 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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