Meta Platforms, Inc. (NASDAQ:META) Insider Jennifer Newstead Sells 921 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 921 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $531.22, for a total transaction of $489,253.62. Following the completion of the sale, the insider now directly owns 28,419 shares of the company’s stock, valued at approximately $15,096,741.18. This represents a 3.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, April 8th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $543.39, for a total value of $500,462.19.
• On Tuesday, April 1st, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $570.66, for a total value of $525,577.86.
• On Tuesday, March 25th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $627.05, for a total value of $577,513.05.
• On Tuesday, March 18th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $600.25, for a total transaction of $552,830.25.
• On Tuesday, March 11th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $595.00, for a total transaction of $547,995.00.
• On Tuesday, March 4th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $644.00, for a total value of $593,124.00.
• On Tuesday, February 25th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $665.75, for a total value of $613,155.75.
• On Tuesday, February 18th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $736.07, for a total value of $677,920.47.
• On Tuesday, February 11th, Jennifer Newstead sold 902 shares of Meta Platforms stock. The stock was sold at an average price of $713.32, for a total transaction of $643,414.64.
• On Tuesday, February 4th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $702.24, for a total transaction of $635,527.20.

Meta Platforms Stock Performance

META opened at $501.48 on Friday. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The company has a fifty day moving average of $612.51 and a 200 day moving average of $607.32.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the company earned $5.33 EPS. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a dividend of $0.525 per share. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms’s dividend payout ratio is currently 8.78%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup reduced their price target on shares of Meta Platforms from $780.00 to $655.00 and set a “buy” rating for the company in a research report on Monday. Wedbush decreased their price target on Meta Platforms from $770.00 to $680.00 and set an “outperform” rating for the company in a research note on Tuesday. Guggenheim dropped their price objective on Meta Platforms from $750.00 to $675.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. JMP Securities reissued a “market outperform” rating and issued a $750.00 target price on shares of Meta Platforms in a research report on Monday, January 27th. Finally, Piper Sandler dropped their price target on shares of Meta Platforms from $775.00 to $610.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $684.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth about $40,000. Avondale Wealth Management bought a new stake in Meta Platforms during the fourth quarter worth approximately $41,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms during the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $45,000. Finally, Stuart Chaussee & Associates Inc. purchased a new position in shares of Meta Platforms in the 4th quarter worth approximately $47,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

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.