Insider Selling: Meta Platforms, Inc. (NASDAQ:META) CEO Sells 28,009 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg sold 28,009 shares of Meta Platforms stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $333.67, for a total value of $9,345,763.03. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Mark Zuckerberg also recently made the following trade(s):

• On Wednesday, November 15th, Mark Zuckerberg sold 28,009 shares of Meta Platforms stock. The shares were sold at an average price of $333.84, for a total transaction of $9,350,524.56.
• On Monday, November 13th, Mark Zuckerberg sold 28,009 shares of Meta Platforms stock. The shares were sold at an average price of $330.05, for a total transaction of $9,244,370.45.
• On Friday, November 10th, Mark Zuckerberg sold 28,009 shares of Meta Platforms stock. The shares were sold at an average price of $325.80, for a total transaction of $9,125,332.20.
• On Wednesday, November 8th, Mark Zuckerberg sold 28,009 shares of Meta Platforms stock. The shares were sold at an average price of $318.11, for a total transaction of $8,909,942.99.
• On Monday, November 6th, Mark Zuckerberg sold 28,009 shares of Meta Platforms stock. The shares were sold at an average price of $316.16, for a total transaction of $8,855,325.44.
• On Thursday, November 2nd, Mark Zuckerberg sold 28,009 shares of Meta Platforms stock. The stock was sold at an average price of $310.60, for a total transaction of $8,699,595.40.

Meta Platforms Price Performance

NASDAQ:META traded up $4.93 during trading hours on Monday, hitting $339.97. The company’s stock had a trading volume of 16,962,536 shares, compared to its average volume of 25,238,586. The business’s 50-day moving average is $312.20 and its two-hundred day moving average is $293.76. The company has a market capitalization of $873.68 billion, a PE ratio of 30.01, a PEG ratio of 1.10 and a beta of 1.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.57 and a current ratio of 2.57. Meta Platforms, Inc. has a 52-week low of $108.32 and a 52-week high of $341.87.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 25th. The social networking company reported $4.39 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.77. The business had revenue of $34.15 billion during the quarter, compared to analysts’ expectations of $33.58 billion. Meta Platforms had a net margin of 23.42% and a return on equity of 26.40%. The company’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the company posted $1.64 EPS. As a group, research analysts anticipate that Meta Platforms, Inc. will post 14.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on META shares. CICC Research started coverage on Meta Platforms in a report on Monday, August 28th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. reduced their price objective on Meta Platforms from $425.00 to $400.00 and set an “overweight” rating for the company in a research note on Wednesday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $400.00 target price on shares of Meta Platforms in a research note on Thursday, October 26th. Guggenheim upped their target price on shares of Meta Platforms from $375.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, September 27th. Finally, KeyCorp upped their target price on shares of Meta Platforms from $356.00 to $380.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $348.26.

Institutional Investors Weigh In On Meta Platforms

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Meta Platforms by 101,072.5% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 777,798,687 shares of the social networking company’s stock valued at $223,212,667,000 after buying an additional 777,029,902 shares during the period. BlackRock Inc. grew its holdings in Meta Platforms by 1.9% in the 2nd quarter. BlackRock Inc. now owns 155,776,067 shares of the social networking company’s stock valued at $44,704,616,000 after buying an additional 2,841,147 shares during the period. FMR LLC grew its holdings in Meta Platforms by 4.0% in the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after buying an additional 5,001,647 shares during the period. State Street Corp grew its position in Meta Platforms by 1.8% during the second quarter. State Street Corp now owns 88,542,953 shares of the social networking company’s stock valued at $25,410,057,000 after acquiring an additional 1,548,671 shares during the period. Finally, Geode Capital Management LLC grew its position in Meta Platforms by 0.3% during the second quarter. Geode Capital Management LLC now owns 44,053,475 shares of the social networking company’s stock valued at $12,607,487,000 after acquiring an additional 115,131 shares during the period. 62.87% of the stock is currently owned by hedge funds and other institutional investors.

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.