Meta Platforms (NASDAQ:META) Insider Jennifer Newstead Sells 519 Shares

by · The Cerbat Gem

Meta Platforms, Inc. (NASDAQ:META – Get Free Report) insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $643.23, for a total transaction of $333,836.37. Following the completion of the sale, the insider owned 29,696 shares in the company, valued at $19,101,358.08. This represents a 1.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

  • On Tuesday, December 9th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The shares were sold at an average price of $664.16, for a total transaction of $344,699.04.
  • On Tuesday, December 2nd, Jennifer Newstead sold 519 shares of Meta Platforms stock. The shares were sold at an average price of $642.22, for a total transaction of $333,312.18.
  • On Tuesday, November 25th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The stock was sold at an average price of $624.14, for a total transaction of $323,928.66.
  • On Tuesday, November 18th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The shares were sold at an average price of $591.60, for a total transaction of $307,040.40.
  • On Monday, November 10th, Jennifer Newstead sold 516 shares of Meta Platforms stock. The stock was sold at an average price of $631.00, for a total value of $325,596.00.
  • On Tuesday, November 4th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The shares were sold at an average price of $628.00, for a total value of $325,932.00.
  • On Tuesday, October 28th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The shares were sold at an average price of $753.00, for a total value of $390,807.00.
  • On Tuesday, October 21st, Jennifer Newstead sold 519 shares of Meta Platforms stock. The stock was sold at an average price of $736.37, for a total value of $382,176.03.
  • On Tuesday, October 14th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The shares were sold at an average price of $707.85, for a total value of $367,374.15.
  • On Tuesday, October 7th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The stock was sold at an average price of $716.98, for a total transaction of $372,112.62.

Meta Platforms Price Performance

NASDAQ:META traded up $14.95 during mid-day trading on Thursday, reaching $664.45. 19,664,703 shares of the company were exchanged, compared to its average volume of 15,539,256. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The stock has a market cap of $1.67 trillion, a PE ratio of 29.35, a PEG ratio of 1.38 and a beta of 1.28. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $662.07 and a 200 day moving average of $707.40.

Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating the consensus estimate of $6.74 by $0.51. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The business had revenue of $51.24 billion for the quarter, compared to analysts’ expectations of $49.34 billion. During the same period in the prior year, the firm earned $6.03 earnings per share. Meta Platforms’s revenue was up 26.2% compared to the same quarter last year. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s payout ratio is presently 9.28%.

Analysts Set New Price Targets

META has been the topic of several recent research reports. Jefferies Financial Group decreased their price target on Meta Platforms from $950.00 to $910.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Citizens Jmp reaffirmed an “outperform” rating and issued a $900.00 target price (up previously from $750.00) on shares of Meta Platforms in a research note on Monday, November 24th. Sanford C. Bernstein reissued an “outperform” rating and set a $870.00 price target (down from $900.00) on shares of Meta Platforms in a research note on Thursday, October 30th. Canaccord Genuity Group reiterated a “buy” rating and set a $900.00 target price on shares of Meta Platforms in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Meta Platforms in a research report on Tuesday, October 14th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $819.46.

Get Our Latest Research Report on Meta Platforms

Institutional Investors Weigh In On Meta Platforms

Several large investors have recently modified their holdings of the business. Westchester Capital Management Inc. acquired a new stake in shares of Meta Platforms during the third quarter worth $26,000. Bare Financial Services Inc acquired a new stake in Meta Platforms in the 2nd quarter valued at approximately $30,000. Evergreen Private Wealth LLC lifted its stake in Meta Platforms by 237.5% in the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 38 shares in the last quarter. Briaud Financial Planning Inc acquired a new position in Meta Platforms during the 2nd quarter worth approximately $42,000. Finally, Knuff & Co LLC acquired a new stake in shares of Meta Platforms in the second quarter valued at approximately $44,000. 79.91% of the stock is currently owned by institutional investors.

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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