Insider Selling: Meta Platforms (NASDAQ:META) CFO Sells 9,195 Shares of Stock

Meta Platforms, Inc. (NASDAQ:METAGet Free Report) CFO Susan Li sold 9,195 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the completion of the sale, the chief financial officer directly owned 13,186 shares of the company’s stock, valued at $8,014,978.24. The trade was a 41.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Meta Platforms Stock Performance

Shares of NASDAQ META traded down $8.60 during midday trading on Tuesday, hitting $602.61. The company’s stock had a trading volume of 11,716,804 shares, compared to its average volume of 15,909,861. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25. The firm’s fifty day moving average price is $620.35 and its 200-day moving average price is $637.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. The firm has a market cap of $1.52 trillion, a P/E ratio of 21.91, a P/E/G ratio of 1.07 and a beta of 1.25.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating the consensus estimate of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. During the same period in the previous year, the business posted $6.43 EPS. The company’s quarterly revenue was up 33.1% on a year-over-year basis. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 29.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Cantor Fitzgerald decreased their price target on shares of Meta Platforms from $850.00 to $750.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Citizens Jmp reissued a “market outperform” rating and set a $900.00 target price on shares of Meta Platforms in a research note on Tuesday, April 21st. KeyCorp reissued an “overweight” rating and set a $760.00 target price on shares of Meta Platforms in a research note on Thursday, April 30th. Mizuho reduced their price target on shares of Meta Platforms from $850.00 to $835.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Finally, Erste Group Bank lowered shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $840.31.

Check Out Our Latest Stock Analysis on META

Meta Platforms News Summary

Here are the key news stories impacting Meta Platforms this week:

Institutional Investors Weigh In On Meta Platforms

A number of hedge funds have recently made changes to their positions in the company. Valued Wealth Advisors LLC increased its position in shares of Meta Platforms by 3.2% during the 3rd quarter. Valued Wealth Advisors LLC now owns 454 shares of the social networking company’s stock worth $334,000 after purchasing an additional 14 shares in the last quarter. First National Bank Sioux Falls increased its position in shares of Meta Platforms by 0.7% during the 4th quarter. First National Bank Sioux Falls now owns 2,001 shares of the social networking company’s stock worth $1,321,000 after purchasing an additional 14 shares in the last quarter. Levin Capital Strategies L.P. increased its position in Meta Platforms by 1.4% in the 4th quarter. Levin Capital Strategies L.P. now owns 984 shares of the social networking company’s stock valued at $649,000 after acquiring an additional 14 shares in the last quarter. Vista Capital Partners Inc. increased its position in Meta Platforms by 1.3% in the 2nd quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock valued at $794,000 after acquiring an additional 14 shares in the last quarter. Finally, Macroview Investment Management LLC increased its position in Meta Platforms by 3.3% in the 3rd quarter. Macroview Investment Management LLC now owns 465 shares of the social networking company’s stock valued at $341,000 after acquiring an additional 15 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

About Meta Platforms

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Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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

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