Posted by Defense World Staff on May 30th, 2024
Meta Platforms, Inc. (NASDAQ:META – Get Free Report)’s share price was down 0.1% during trading on Wednesday following insider selling activity. The company traded as low as $474.46 and last traded at $479.62. Approximately 2,203,428 shares were traded during trading, a decline of 87% from the average daily volume of 17,254,469 shares. The stock had previously closed at $479.92.
Specifically, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the transaction, the chief operating officer now directly owns 15,376 shares in the company, valued at $7,268,235.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the sale, the chief operating officer now owns 15,376 shares in the company, valued at approximately $7,268,235.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 77,412 shares of Meta Platforms stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $497.61, for a total transaction of $38,520,985.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 731,469 shares of company stock worth $363,443,903. Company insiders own 13.71% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently commented on META. Loop Capital lowered their price objective on Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Truist Financial lowered their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Sanford C. Bernstein cut their price objective on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. lowered their target price on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Finally, TD Cowen cut their target price on shares of Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $509.80.
Get Our Latest Research Report on Meta Platforms
Meta Platforms Trading Down 1.2 %
The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The company has a market capitalization of $1.20 trillion, a P/E ratio of 27.25, a PEG ratio of 1.24 and a beta of 1.21. The company’s fifty day simple moving average is $482.74 and its 200-day simple moving average is $429.26.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Research analysts predict that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.
Institutional Investors Weigh In On Meta Platforms
A number of institutional investors have recently added to or reduced their stakes in the stock. S.A. Mason LLC raised its stake in shares of Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after acquiring an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN increased its position in shares of Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after purchasing an additional 21 shares in the last quarter. Northern Capital Management Inc. lifted its holdings in shares of Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after purchasing an additional 21 shares during the last quarter. Hanson & Doremus Investment Management boosted its position in shares of Meta Platforms by 5.3% in the 1st quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock worth $211,000 after purchasing an additional 22 shares in the last quarter. Finally, LongView Wealth Management grew its stake in Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after buying an additional 22 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.
About Meta Platforms
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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