Meta Platforms (NASDAQ:META) Shares Down 1.6% on Insider Selling

Shares of Meta Platforms, Inc. (NASDAQ:META) were down 1.6% during trading on Monday following insider selling activity. The stock traded as low as $493.17 and last traded at $496.08. Approximately 4,256,664 shares changed hands during trading, a decline of 74% from the average daily volume of 16,347,370 shares. The stock had previously closed at $504.22.

Specifically, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $514.96, for a total transaction of $8,600,861.92. Following the completion of the sale, the chief executive officer now directly owns 213,007 shares of the company’s stock, valued at approximately $109,690,084.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $514.96, for a total transaction of $8,600,861.92. Following the sale, the chief executive officer now directly owns 213,007 shares of the company’s stock, valued at $109,690,084.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,086 shares of company stock worth $106,423,370. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on META. Wedbush dropped their target price on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. The Goldman Sachs Group reduced their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Roth Mkm lifted their price target on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Barclays reduced their target price on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Finally, Canaccord Genuity Group lowered their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $511.27.

Meta Platforms Stock Performance

The firm’s fifty day simple moving average is $480.72 and its 200 day simple moving average is $458.05. 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 company has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 29.26, a PEG ratio of 1.31 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Institutional Investors Weigh In On Meta Platforms

Institutional investors have recently bought and sold shares of the business. Beaird Harris Wealth Management LLC lifted its position in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after buying an additional 42 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth $32,000. Clear Investment Research LLC boosted its position in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Delos Wealth Advisors LLC grew its stake in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. Finally, Cranbrook Wealth Management LLC increased its position in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

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.