Meta Platforms, Inc. (NASDAQ:META – Get Rating) insider Jennifer Newstead sold 342 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $127.40, for a total transaction of $43,570.80. Following the transaction, the insider now directly owns 25,477 shares in the company, valued at $3,245,769.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Jennifer Newstead also recently made the following trade(s):
- On Wednesday, December 28th, Jennifer Newstead sold 342 shares of Meta Platforms stock. The stock was sold at an average price of $116.44, for a total transaction of $39,822.48.
- On Wednesday, December 21st, Jennifer Newstead sold 342 shares of Meta Platforms stock. The stock was sold at an average price of $116.70, for a total transaction of $39,911.40.
- On Wednesday, December 14th, Jennifer Newstead sold 342 shares of Meta Platforms stock. The shares were sold at an average price of $119.63, for a total transaction of $40,913.46.
- On Wednesday, December 7th, Jennifer Newstead sold 342 shares of Meta Platforms stock. The shares were sold at an average price of $113.89, for a total transaction of $38,950.38.
- On Wednesday, November 30th, Jennifer Newstead sold 342 shares of Meta Platforms stock. The shares were sold at an average price of $109.38, for a total transaction of $37,407.96.
- On Wednesday, November 23rd, Jennifer Newstead sold 342 shares of Meta Platforms stock. The shares were sold at an average price of $111.60, for a total transaction of $38,167.20.
- On Tuesday, November 8th, Jennifer Newstead sold 327 shares of Meta Platforms stock. The shares were sold at an average price of $95.93, for a total transaction of $31,369.11.
- On Tuesday, November 1st, Jennifer Newstead sold 342 shares of Meta Platforms stock. The shares were sold at an average price of $94.31, for a total transaction of $32,254.02.
- On Tuesday, October 25th, Jennifer Newstead sold 342 shares of Meta Platforms stock. The shares were sold at an average price of $130.80, for a total transaction of $44,733.60.
- On Tuesday, October 18th, Jennifer Newstead sold 342 shares of Meta Platforms stock. The shares were sold at an average price of $137.00, for a total transaction of $46,854.00.
Meta Platforms Price Performance
Shares of META stock traded up $3.08 on Friday, reaching $130.02. 27,530,824 shares of the company were exchanged, compared to its average volume of 30,234,371. The company has a market cap of $344.75 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.95 and a beta of 1.17. The business has a 50-day moving average price of $112.67 and a 200 day moving average price of $142.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.57 and a current ratio of 2.57. Meta Platforms, Inc. has a 1 year low of $88.09 and a 1 year high of $337.00.
Meta Platforms (NASDAQ:META – Get Rating) last released its earnings results on Wednesday, October 26th. The social networking company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.24). The company had revenue of $27.71 billion for the quarter, compared to analysts’ expectations of $27.40 billion. Meta Platforms had a return on equity of 23.16% and a net margin of 24.41%. Equities research analysts forecast that Meta Platforms, Inc. will post 8.95 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on META shares. Barclays lowered their target price on shares of Meta Platforms from $250.00 to $165.00 and set an “overweight” rating for the company in a research note on Thursday, October 27th. Morgan Stanley lowered their target price on shares of Meta Platforms from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 15th. Wolfe Research lowered their target price on shares of Meta Platforms from $170.00 to $140.00 and set an “outperform” rating for the company in a research note on Thursday, October 27th. HSBC lowered their price objective on shares of Meta Platforms to $110.00 in a research note on Tuesday, November 1st. Finally, Cowen downgraded shares of Meta Platforms from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $205.00 to $135.00 in a research note on Thursday, October 27th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $170.73.
Hedge Funds Weigh In On Meta Platforms
A number of institutional investors and hedge funds have recently bought and sold shares of META. Capital International Investors boosted its position in Meta Platforms by 4.4% during the first quarter. Capital International Investors now owns 54,050,797 shares of the social networking company’s stock worth $12,019,697,000 after acquiring an additional 2,281,759 shares during the last quarter. Renaissance Technologies LLC boosted its position in Meta Platforms by 310.7% during the first quarter. Renaissance Technologies LLC now owns 3,001,000 shares of the social networking company’s stock worth $667,302,000 after acquiring an additional 2,270,300 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Meta Platforms during the first quarter worth about $402,287,000. SRS Investment Management LLC boosted its position in Meta Platforms by 2,260.8% during the first quarter. SRS Investment Management LLC now owns 1,563,895 shares of the social networking company’s stock worth $347,748,000 after acquiring an additional 1,497,650 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Meta Platforms by 17.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 7,085,103 shares of the social networking company’s stock valued at $1,583,252,000 after purchasing an additional 1,055,588 shares during the last quarter. 60.92% of the stock is currently owned by institutional investors and hedge funds.
Meta Platforms Company Profile
Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment’s products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Meta Platforms, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Meta Platforms wasn’t on the list.
While Meta Platforms currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Read More: Meta Platforms, Inc. (NASDAQ:META) Insider Sells $43,570.80 in Stock