Meta Platforms, Inc. (NASDAQ:META) CFO Susan J. Li Sells 6,874 Shares

Meta Platforms, Inc. (NASDAQ:META) CFO Susan J. Li sold 6,874 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the sale, the chief financial officer now directly owns 70,040 shares of the company’s stock, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Meta Platforms Trading Up 0.0%

META stock opened at $640.43 on Tuesday. The company has a market capitalization of $1.61 trillion, a PE ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The firm’s 50-day moving average is $571.79 and its 200 day moving average is $607.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.71 EPS. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Roth Capital upped their target price on shares of Meta Platforms from $580.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, May 1st. KeyCorp upped their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. TD Securities reduced their target price on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $610.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Finally, Bank of America upped their price target on shares of Meta Platforms from $640.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $701.05.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in META. Inlight Wealth Management LLC purchased a new position in Meta Platforms in the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Meta Platforms during the 1st quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in Meta Platforms during the 1st quarter valued at about $33,000. Millstone Evans Group LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $40,000. Finally, WealthTrak Capital Management LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Company Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, 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, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.