Meta Platforms, Inc. Insider Sells $602,730 in Stock

On January 28th, Jennifer Newstead, an insider at Meta Platforms, Inc. (NASDAQ:META), sold 905 shares of the company's stock. This sale was executed at an average price of $666.00 per share, resulting in a total transaction value of $602,730. Following this transaction, Newstead holds 29,295 shares in Meta, which are valued at approximately $19,510,470. Notably, this sale represented a decrease of 3.00% in Newstead's ownership of the company's stock. The transaction was reported in a legal filing with the Securities and Exchange Commission (SEC), which can be accessed through public resources.

Recent transactions involving Jennifer Newstead include:

• On January 21st, she sold 905 shares at an average price of $618.00, totaling $559,290.00.
• On January 14th, another sale of 905 shares was made at an average price of $604.54, amounting to $547,108.70.
• The trend of selling continued on January 7th, with her selling 905 shares at $631.55, totaling $571,552.75.
• On December 31st, she sold 905 shares at an average price of $591.76, bringing in $535,542.80.
• On December 24th, another 905 shares were sold at $602.47, totaling $545,235.35.
• Prior to that, on December 17th, she sold 905 shares at an average price of $626.66, totaling $567,127.30.
• On December 10th, another transaction saw 905 shares sold at $618.00, bringing in $559,290.00.
• On December 3rd, 905 shares were sold at an average price of $595.00, totaling $538,475.00.
• On November 26th, she sold 905 shares at an average price of $565.30, which equated to $511,596.50.
• Finally, on November 5th, Newstead sold 901 shares at an average price of $567.70, totaling $511,497.70.

Performance of Meta Platforms Stock

During midday trading on Thursday, Meta's stock (NASDAQ:META) rose by $10.51, reaching $687.00. The trading volume was 29,291,306 shares, surpassing the average volume of 15,714,160 shares. The stock's 50-day moving average is $608.52, while the 200-day moving average stands at $563.58. Meta currently has a market capitalization of $1.73 trillion, with a price-to-earnings ratio of 32.36. The company's financial metrics indicate a strong net margin of 35.55% and a return on equity of 35.60%. Over the last year, the stock has fluctuated between a low of $387.10 and a high of $710.79.

Meta Platforms Dividend Announcement

In addition to trading activity, Meta Platforms recently declared a quarterly dividend. The dividend was paid on December 27th, and shareholders who were recorded by December 16th received a payment of $0.50 per share. The ex-dividend date was also December 16th. This implies an annualized dividend of $2.00, representing a yield of 0.29%. Currently, Meta Platforms has a dividend payout ratio of 9.42%.

Changes in Analyst Ratings

Several analysts have recently updated their ratings on Meta Platforms. For instance, Piper Sandler increased its price target from $670.00 to $775.00 and assigned an “overweight” rating to the stock. Similarly, BMO Capital Markets raised its price target from $530.00 to $610.00, recommending a “market perform” rating. Cantor Fitzgerald also raised its target from $720.00 to $790.00, giving the company an “overweight” rating. Others like Citigroup and DA Davidson also adjusted their targets upwards, now projecting price targets of $780.00 and $800.00, respectively. The consensus rating among analysts currently stands at “Moderate Buy,” with an average price target of $706.76.

Institutional Trading of Meta Platforms

In recent months, various institutional investors have adjusted their holdings in Meta Platforms. JDM Financial Group LLC purchased a new stake during the third quarter, valued at approximately $30,000. Other firms, such as Safe Harbor Fiduciary LLC and Avondale Wealth Management, also made new investments, indicating continued interest in Meta. Approximately 79.91% of the company's stock is now owned by institutional investors.

About Meta Platforms, Inc.

Meta Platforms, Inc. is responsible for developing products that help people connect and share with others via mobile devices, personal computers, and more. The company operates in two main segments: the Family of Apps, which includes platforms such as Facebook and Instagram, and Reality Labs, which focuses on virtual reality and augmented reality technologies.

Meta, Insider, Stock