Jennifer Newstead Sells 342 Shares of Meta Platforms, Inc. (NASDAQ:META) Stock

Meta Platforms, Inc. (NASDAQ:METAGet Rating) insider Jennifer Newstead sold 342 shares of the firm’s stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $165.89, for a total value of $56,734.38. Following the completion of the sale, the insider now owns 19,115 shares of the company’s stock, valued at approximately $3,170,987.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

  • On Tuesday, June 7th, Jennifer Newstead sold 342 shares of Meta Platforms stock. The stock was sold at an average price of $191.93, for a total value of $65,640.06.
  • On Tuesday, May 31st, Jennifer Newstead sold 342 shares of Meta Platforms stock. The stock was sold at an average price of $194.93, for a total value of $66,666.06.
  • On Tuesday, May 24th, Jennifer Newstead sold 342 shares of Meta Platforms stock. The stock was sold at an average price of $180.53, for a total value of $61,741.26.
  • On Tuesday, May 10th, Jennifer Newstead sold 311 shares of Meta Platforms stock. The stock was sold at an average price of $199.60, for a total value of $62,075.60.
  • On Tuesday, May 3rd, Jennifer Newstead sold 622 shares of Meta Platforms stock. The stock was sold at an average price of $210.78, for a total value of $131,105.16.
  • On Tuesday, April 26th, Jennifer Newstead sold 330 shares of Meta Platforms stock. The stock was sold at an average price of $186.63, for a total value of $61,587.90.
  • On Tuesday, April 19th, Jennifer Newstead sold 476 shares of Meta Platforms stock. The stock was sold at an average price of $210.70, for a total value of $100,293.20.
  • On Tuesday, April 12th, Jennifer Newstead sold 476 shares of Meta Platforms stock. The stock was sold at an average price of $220.04, for a total value of $104,739.04.
  • On Tuesday, April 5th, Jennifer Newstead sold 476 shares of Meta Platforms stock. The stock was sold at an average price of $233.92, for a total value of $111,345.92.
  • On Tuesday, March 29th, Jennifer Newstead sold 476 shares of Meta Platforms stock. The stock was sold at an average price of $226.24, for a total value of $107,690.24.

Shares of Meta Platforms stock opened at $163.74 on Friday. The firm has a market cap of $443.13 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.02 and a beta of 1.37. The stock’s 50-day moving average is $194.19 and its 200-day moving average is $243.15. Meta Platforms, Inc. has a one year low of $159.61 and a one year high of $384.33.

Meta Platforms (NASDAQ:METAGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The social networking company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.18. The company had revenue of $27.91 billion for the quarter, compared to analyst estimates of $28.21 billion. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. During the same period in the previous year, the company posted $3.30 earnings per share. On average, analysts expect that Meta Platforms, Inc. will post 11.56 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of META. OLD Mission Capital LLC bought a new stake in Meta Platforms during the third quarter worth about $251,000. New World Advisors LLC raised its holdings in Meta Platforms by 170.8% during the third quarter. New World Advisors LLC now owns 2,248 shares of the social networking company’s stock worth $730,000 after acquiring an additional 1,418 shares in the last quarter. Dark Forest Capital Management LP raised its holdings in Meta Platforms by 37.5% during the third quarter. Dark Forest Capital Management LP now owns 242 shares of the social networking company’s stock worth $82,000 after acquiring an additional 66 shares in the last quarter. Crake Asset Management LLP raised its holdings in Meta Platforms by 44.2% during the third quarter. Crake Asset Management LLP now owns 699,352 shares of the social networking company’s stock worth $237,353,000 after acquiring an additional 214,300 shares in the last quarter. Finally, Baldwin Investment Management LLC raised its holdings in Meta Platforms by 46.9% during the third quarter. Baldwin Investment Management LLC now owns 1,660 shares of the social networking company’s stock worth $563,000 after acquiring an additional 530 shares in the last quarter. Institutional investors own 65.49% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Susquehanna dropped their price target on Meta Platforms from $375.00 to $290.00 in a report on Thursday, April 28th. JMP Securities dropped their price target on Meta Platforms from $350.00 to $265.00 and set a “market outperform” rating for the company in a report on Tuesday, April 19th. Truist Financial dropped their price target on Meta Platforms from $350.00 to $320.00 in a report on Thursday, April 28th. Guggenheim dropped their price target on Meta Platforms from $275.00 to $250.00 and set a “na” rating for the company in a report on Wednesday, May 18th. Finally, Evercore ISI dropped their price target on Meta Platforms from $350.00 to $325.00 in a report on Thursday, April 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $305.87.

About Meta Platforms (Get Rating)

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.

Further Reading

Insider Buying and Selling by Quarter for Meta Platforms (NASDAQ:META)

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