Meta Platforms Insider Jennifer Newstead Sells Shares

On March 18th, Jennifer Newstead, an insider at Meta Platforms, Inc. (NASDAQ:META - Get Free Report), sold 921 shares of the company's stock. The shares were sold at an average price of $600.25, resulting in a total transaction value of $552,830.25. Following this sale, Newstead holds 32,103 shares, which are valued at approximately $19,269,825.75. This transaction reflects a 2.79% decrease in Newstead's ownership of the company’s stock. The details of this trade were disclosed in a filing with the Securities and Exchange Commission (SEC), which can be accessed on their website.

In addition to the recent sale, Newstead had made several prior stock transactions, including:

• On March 11th, selling 921 shares at an average price of $595.00, totaling $547,995.00.
• On March 4th, selling 921 shares at an average price of $644.00, amounting to $593,124.00.
• On February 25th, selling 921 shares at an average price of $665.75, resulting in a value of $613,155.75.
• On February 18th, selling 921 shares at an average price of $736.07, reaching a sale total of $677,920.47.
• On February 11th, selling 902 shares at an average price of $713.32, totaling $643,414.64.
• On February 4th, selling 905 shares at an average price of $702.24, resulting in $635,527.20.
• On January 28th, selling 905 shares at an average price of $666.00, totaling $602,730.00.
• On January 21st, selling 905 shares at an average price of $618.00, summing up to $559,290.00.
• On January 14th, selling 905 shares at an average price of $604.54, reaching a total of $547,108.70.
• On January 7th, selling 905 shares at an average price of $631.55, totaling $571,552.75.

Market Performance

During midday trading on Thursday, March 21st, Meta Platforms saw a slight increase of 0.3%, rising by $1.94 to reach $586.00. A total of 24,283,168 shares exchanged hands, surpassing the average trading volume of 13,719,554. The company's fifty-day moving average stands at $656.27, while its two-hundred-day moving average is $604.69. Over the past year, Meta Platforms has seen a low of $414.50 and a high of $740.91. The company’s market capitalization is approximately $1.48 trillion, and it has a P/E ratio of 24.50. Furthermore, the company has a current ratio and quick ratio of 2.98, as well as a debt-to-equity ratio of 0.16.

Recent Financial Results

Meta Platforms recently announced its quarterly earnings results on January 29th, reporting earnings of $8.02 per share, surpassing the consensus estimate of $6.75 by $1.27. Last year, the company posted earnings of $5.33 per share during the same quarter. Analysts predict an average EPS of 26.7 for the current fiscal year for Meta Platforms.

Dividend Announcement

The company has also revealed an increase in its quarterly dividend, set to be paid on March 26th. Shareholders recorded on March 14th will receive a dividend of $0.525 per share, which translates to an annualized dividend of $2.10 and a yield of 0.36%. This marks an increase from the previous dividend of $0.50.

Institutional Investors' Activity

Several hedge funds have recently adjusted their positions in Meta Platforms. Notably, M1 Capital Management LLC acquired a new stake valued at $4,346,000 in the fourth quarter, while DSG Capital Advisors LLC also established a new position worth $9,968,000. Chancellor Financial Group WB LP invested $796,000 in new shares. As of now, institutional investors own approximately 79.91% of the company's stock.

Analyst Ratings

Various brokerages have recently provided insights regarding Meta Platforms. Notably, JPMorgan Chase & Co. raised their target price from $660.00 to $725.00, granting the stock an 'overweight' rating. Similarly, Bank of America increased their target from $710.00 to $765.00 and maintained a 'buy' rating. Analysts' consensus shows two sell ratings, four hold ratings, thirty-five buy ratings, and two strong buy ratings, leading to an average rating of 'Moderate Buy' across the board.

About Meta Platforms

Meta Platforms, Inc. focuses on developing technologies that allow users to connect and share experiences across various platforms. It operates primarily in two segments: the Family of Apps, which includes Facebook, Instagram, Messenger, and WhatsApp, and Reality Labs, focusing on innovative technologies.

Meta, Insider, Shares