Meta Platforms Insider Jennifer Newstead Sells 905 Shares

On December 10th, Jennifer Newstead, an insider at Meta Platforms, Inc. (NASDAQ:META - Get Free Report), sold 905 shares of the company's stock. The sale was conducted at an average price of $618.00 per share, bringing the total amount to $559,290.00. After this transaction, Newstead's direct ownership in Meta now stands at 35,630 shares, with an approximate value of $22,019,340. This sale indicates a 2.48% reduction in her shareholding. The details of the transaction were made public through a filing with the Securities & Exchange Commission.

In addition to this recent sale, Jennifer Newstead has been active in trading Meta stocks in the past months. On December 3rd, she sold another 905 shares at an average price of $595.00, totaling $538,475.00. Prior trades include:

• November 26th: Sold 905 shares at $565.30 for $511,596.50.
• November 5th: Sold 901 shares at $567.70 for $511,497.70.
• October 29th: Sold 905 shares at $580.10 for $524,990.50.
• October 22nd: Sold 905 shares at $574.70 for $520,103.50.
• October 15th: Sold 905 shares at $589.97 for $533,922.85.
• October 8th: Sold 905 shares at $589.89 for $533,850.45.
• October 1st: Sold 905 shares at $578.55 for $523,587.75.
• September 17th: Sold 905 shares at $537.72 for $486,636.60.

Meta Platforms Stock Performance

As of Thursday's trading session, Meta's stock price dipped by $1.89, landing at $630.79. The volume of shares traded was approximately 7,452,839, which is less than the average volume of 14,768,724 shares. The 50-day moving average for the stock is currently $582.52, while the 200-day moving average stands at $535.78. Meta Platforms shows a debt-to-equity ratio of 0.18 and has a solid current and quick ratio of 2.73. The stock's performance over the past year has seen a low of $328.64 and a high of $638.40, with a market capitalization of about $1.59 trillion. The company's PE ratio is 29.71, with a price-to-earnings-growth ratio of 1.37 and a beta of 1.20.

Recent Financial Results and Dividend Announcement

Meta Platforms most recently reported its quarterly earnings on October 30th, revealing an earnings per share (EPS) of $6.03, exceeding analysts' expectations of $5.19 by $0.84. The company achieved a return on equity of 35.60%, with a net margin of 35.55%. Revenue for the quarter reached $40.59 billion, slightly above the expected $40.21 billion. Analysts predict a total EPS of 22.68 for the current fiscal year. Furthermore, Meta has declared a quarterly dividend of $0.50 per share, which will be distributed on December 27th, with the ex-dividend date set for December 16th.

Analyst Perspectives

Numerous brokerages have recently assessed Meta's stock, with Wedbush maintaining an "outperform" rating and a $600.00 price target. Truist Financial increased their target from $570.00 to $650.00, classifying it as a "buy." DA Davidson also initiated a "buy" rating with a $600.00 target price. Citigroup's evaluation raised the price target on Meta from $645.00 to $705.00. TD Cowen adjusted their target from $600.00 to $675.00, reaffirming a "buy" rating. In summary, while some analysts have recommended selling, a significant majority of ratings are positive, with a total of 35 analysts giving a buy rating based on MarketBeat's data.

Institutional Investments in Meta Platforms

In the recent financial landscape, hedge funds and institutional investors have adjusted their holdings in Meta Platforms. Notably, Legacy Wealth Management established a new position valued around $433,000. SPX Gestao de Recursos Ltda increased its stake significantly, now holding 13,500 shares worth $7,728,000. Other notable movements include 1ST Source Bank raising its holdings by 3.4% and DGS Capital Management increasing its holdings by 2.7%. Currently, approximately 79.91% of Meta's shares are owned by such institutions.

About Meta Platforms

Meta Platforms, Inc. focuses on developing products that enable people to connect and share experiences through various devices globally. The company operates via two main segments: Family of Apps and Reality Labs, which includes popular platforms such as Facebook, Instagram, Messenger, and WhatsApp.

Meta, Insider, Shares, Stocks