Meta Platforms (NASDAQ:META) Stock Price Down 1.9% on Insider Selling

Meta Platforms, Inc. (NASDAQ:METAGet Free Report) was down 1.9% during mid-day trading on Monday following insider selling activity. The company traded as low as $528.78 and last traded at $529.47. Approximately 6,026,109 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 16,198,923 shares. The stock had previously closed at $539.91.

Specifically, CEO Mark Zuckerberg sold 8,727 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $528.87, for a total value of $4,615,448.49. Following the transaction, the chief executive officer now directly owns 178,099 shares in the company, valued at $94,191,218.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Mark Zuckerberg sold 8,727 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $528.87, for a total value of $4,615,448.49. Following the completion of the transaction, the chief executive officer now directly owns 178,099 shares in the company, valued at $94,191,218.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the sale, the insider now owns 36,643 shares in the company, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Insiders sold a total of 260,459 shares of company stock worth $128,049,749 over the last ninety days. 13.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on META. The Goldman Sachs Group lowered their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Roth Mkm increased their price target on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Jefferies Financial Group decreased their price objective on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Raymond James increased their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday, July 1st. Finally, Stifel Nicolaus boosted their price target on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $515.64.

Get Our Latest Stock Report on META

Meta Platforms Trading Up 0.9 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a market cap of $1.36 trillion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. The stock has a 50-day moving average price of $488.29 and a two-hundred day moving average price of $464.16.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Sell-side analysts forecast that Meta Platforms, Inc. will post 20.15 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of META. Baird Financial Group Inc. lifted its position in shares of Meta Platforms by 24.2% during the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after purchasing an additional 163,067 shares during the last quarter. California State Teachers Retirement System increased its stake in Meta Platforms by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after buying an additional 51,900 shares during the period. Donoghue Forlines LLC lifted its holdings in Meta Platforms by 94.4% during the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after buying an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Meta Platforms by 7.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after buying an additional 32,423 shares during the period. Finally, Voyager Global Management LP grew its stake in Meta Platforms by 37.3% in the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after acquiring an additional 140,000 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Company Profile

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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.

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