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

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $570.66, for a total value of $525,577.86. Following the transaction, the insider now owns 30,261 shares in the company, valued at $17,268,742.26. The trade was a 2.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, March 25th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $627.05, for a total transaction 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 value 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 shares were sold at an average price of $736.07, for a total transaction of $677,920.47.
• On Tuesday, February 11th, Jennifer Newstead sold 902 shares of Meta Platforms stock. The shares were 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.
• On Tuesday, January 28th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $666.00, for a total value of $602,730.00.
• On Tuesday, January 21st, 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.

Meta Platforms Stock Down 5.1 %

Shares of Meta Platforms stock opened at $504.73 on Friday. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The company has a market capitalization of $1.28 trillion, a PE ratio of 21.10, a P/E/G ratio of 1.42 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The business has a 50-day moving average of $648.15 and a 200-day moving average of $609.75.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating 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 quarter last year, the firm posted $5.33 earnings per share. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a $0.525 dividend. The ex-dividend date was Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.42%. Meta Platforms’s dividend payout ratio is currently 8.78%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $790.00 price objective on shares of Meta Platforms in a research report on Wednesday. Royal Bank of Canada lifted their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wolfe Research upped their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Arete Research raised shares of Meta Platforms to a “hold” rating in a research note on Friday, January 24th. Finally, Jefferies Financial Group reduced their price target on Meta Platforms from $810.00 to $725.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Two investment 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 issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $718.55.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Ballentine Partners LLC increased its holdings in Meta Platforms by 1.4% in the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock valued at $34,087,000 after buying an additional 808 shares during the last quarter. UMB Bank n.a. raised its position in shares of Meta Platforms by 0.6% during the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock valued at $82,314,000 after acquiring an additional 897 shares in the last quarter. Brueske Advisory Services LLC bought a new position in Meta Platforms during the fourth quarter worth $459,000. Apollon Financial LLC boosted its holdings in Meta Platforms by 11.1% in the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock worth $866,000 after purchasing an additional 148 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Meta Platforms by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock valued at $3,908,382,000 after purchasing an additional 110,040 shares during the last quarter. 79.91% of the stock is currently owned by 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.