Meta Platforms (NASDAQ:META) Shares Down 0.6% Following Insider Selling

Meta Platforms, Inc. (NASDAQ:METAGet Free Report)’s share price dropped 0.6% on Friday following insider selling activity. The company traded as low as $468.42 and last traded at $470.48. Approximately 4,341,078 shares traded hands during trading, a decline of 76% from the average daily volume of 17,718,988 shares. The stock had previously closed at $473.23.

Specifically, insider Nicholas Clegg sold 1,135 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $535,549.75. Following the transaction, the insider now owns 8,753 shares in the company, valued at approximately $4,130,103.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Nicholas Clegg sold 1,135 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $535,549.75. Following the completion of the sale, the insider now directly owns 8,753 shares of the company’s stock, valued at approximately $4,130,103.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $466.08, for a total value of $45,253,105.44. The disclosure for this sale can be found here. Insiders have sold a total of 1,015,222 shares of company stock worth $499,279,869 in the last quarter. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of several recent research reports. Monness Crespi & Hardt lifted their price objective on Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Rosenblatt Securities lifted their price objective on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. The Goldman Sachs Group decreased their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Citigroup decreased their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $509.80.

View Our Latest Report on Meta Platforms

Meta Platforms Price Performance

The company has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a 50 day simple moving average of $486.26 and a 200 day simple moving average of $420.62.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. As a group, research analysts predict that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Institutional Investors Weigh In On Meta Platforms

Large investors have recently modified their holdings of the stock. Cypress Capital Group grew its stake in Meta Platforms by 9.5% during the 3rd quarter. Cypress Capital Group now owns 1,359 shares of the social networking company’s stock valued at $408,000 after purchasing an additional 118 shares in the last quarter. Pittenger & Anderson Inc. grew its stake in Meta Platforms by 101.8% during the 3rd quarter. Pittenger & Anderson Inc. now owns 6,005 shares of the social networking company’s stock valued at $1,803,000 after purchasing an additional 3,030 shares in the last quarter. MRP Capital Investments LLC grew its stake in Meta Platforms by 118.7% during the 3rd quarter. MRP Capital Investments LLC now owns 11,995 shares of the social networking company’s stock valued at $3,601,000 after purchasing an additional 6,510 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in Meta Platforms by 15.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 34,461 shares of the social networking company’s stock valued at $10,346,000 after purchasing an additional 4,665 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Meta Platforms by 5.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 17,252 shares of the social networking company’s stock valued at $5,179,000 after purchasing an additional 916 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 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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