Meta Platforms (NASDAQ:META) Shares Down 2.2% on Insider Selling

Meta Platforms, Inc. (NASDAQ:META) shares were down 2.2% on Monday following insider selling activity. The stock traded as low as $598.45 and last traded at $602.54. Approximately 4,245,541 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 11,967,252 shares. The stock had previously closed at $615.86.

Specifically, CEO Mark Zuckerberg sold 12,975 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $615.41, for a total value of $7,984,944.75. Following the sale, the chief executive officer now directly owns 381,290 shares of the company’s stock, valued at $234,649,678.90. This represents a 3.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $631.55, for a total transaction of $571,552.75. Following the transaction, the insider now directly owns 32,010 shares of the company’s stock, valued at approximately $20,215,915.50. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Meta Platforms news, CEO Mark Zuckerberg sold 12,975 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $618.42, for a total transaction of $8,023,999.50. Following the completion of the transaction, the chief executive officer now owns 420,215 shares of the company’s stock, valued at approximately $259,869,360.30. This trade represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

Several analysts recently weighed in on the company. BMO Capital Markets upped their price target on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Robert W. Baird raised their price target on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Scotiabank dropped their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Wedbush raised their price objective on shares of Meta Platforms from $640.00 to $680.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Finally, Truist Financial upped their target price on shares of Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $650.05.

Meta Platforms Stock Down 2.3 %

The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a 50 day simple moving average of $595.02 and a two-hundred day simple moving average of $554.81. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 27.99, a P/E/G ratio of 1.36 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in META. International Assets Investment Management LLC increased its position in Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC grew its stake in shares of Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares in the last quarter. Sustainable Growth Advisers LP bought a new stake in shares of Meta Platforms in the 2nd quarter worth about $595,152,000. World Investment Advisors LLC raised its position in shares of Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after buying an additional 890,434 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Company Profile

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.