Meta Platforms, Inc. Insider Jennifer Newstead Sells Shares

On March 18th, Jennifer Newstead, an insider at Meta Platforms, Inc. (NASDAQ:META), sold 921 shares of the company's stock. The shares were sold for an average price of $600.25. This transaction totaled a value of $552,830.25. After this sale, Newstead now holds 32,103 shares of Meta, which are valued at approximately $19,269,825.75. The number of shares she sold represents a 2.79% decrease in her overall ownership of the stock. The details of this transaction were disclosed in a filing with the Securities and Exchange Commission, which can be accessed online.

In addition to this recent sale, Jennifer Newstead has made several other trades recently involving Meta Platforms shares:

• On March 11, she sold another 921 shares at an average price of $595.00, totaling $547,995.00.
• On March 4, she sold 921 shares at an average price of $644.00, for a value of $593,124.00.
• On February 25, she sold the same number of shares at an average price of $665.75, amounting to $613,155.75.
• On February 18, she sold 921 shares at an average price of $736.07, totaling $677,920.47.
• On February 11, Newstead sold 902 shares at an average price of $713.32, totaling $643,414.64.
• On February 4, she sold 905 shares at an average price of $702.24, for $635,527.20.
• On January 28, another 905 shares were sold at an average price of $666.00, accumulating $602,730.00.
• On January 21, she sold 905 shares at an average price of $618.00, totaling $559,290.00.
• On January 14, she sold 905 shares for $604.54 each, leading to a total of $547,108.70.
• On January 7, she sold 905 shares at an average price of $631.55, earning a total of $571,552.75.

Current Stock Performance of Meta Platforms

Following these transactions, on the trading day of March 18, Meta Platforms saw an increase of 0.3%, with shares trading up by $1.94 to reach $586.00. In total, 24,283,168 shares exchanged hands, which is significantly higher than the average volume of 13,719,554 shares. The company's 50-day moving average is currently $656.27, while the 200-day moving average stands at $604.69. Over the past year, Meta's stock reached a 12-month low of $414.50 and a high of $740.91. The company has a market capitalization of $1.48 trillion, with a P/E ratio of 24.50.

Recent Earnings and Dividend Announcement

Meta Platforms recently announced its quarterly earnings, reporting $8.02 earnings per share, exceeding the consensus estimate of $6.75. The company's return on equity stands at 38.17%, with a net margin of 37.91%. Additionally, Meta has declared a quarterly dividend of $0.525, payable on March 26th, to shareholders of record as of March 14th. This marks an increase from the previous quarterly dividend of $0.50, representing an annualized yield of 0.36%. The company's dividend payout ratio is currently 8.78%.

Institutional Interest in Meta Platforms

Recently, several hedge funds have made transactions involving Meta Platforms. For instance, M1 Capital Management LLC established a new stake valued at $4,346,000 in the fourth quarter. Others, such as DSG Capital Advisors LLC and Chancellor Financial Group, also acquired new positions during the same period. Institutional investors now hold 79.91% of the company's stock.

Wall Street Ratings for Meta Platforms

Various brokerage firms have issued reports concerning Meta Platforms. For instance, JPMorgan Chase & Co. raised its target price from $660.00 to $725.00, while Bank of America increased their target from $710.00 to $765.00, giving the stock a "buy" rating. Scotiabank and Wolfe Research have also provided favorable updates. Current consensus indicates a moderate buy rating, with a significant number of analysts advocating for the stock.

About Meta Platforms

Meta Platforms, Inc. focuses on developing products that facilitate connections and sharing among people worldwide through various devices, including mobile phones and computers. Their operations are mainly divided into two segments: Family of Apps, which encompasses platforms like Facebook and Instagram, and Reality Labs.

Meta, Insider, Shares