Meta Platforms, Inc. (NASDAQ:META) Director Robert M. Kimmitt Sells 475 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) Director Robert M. Kimmitt sold 475 shares of the company’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $628.25, for a total value of $298,418.75. Following the transaction, the director now owns 10,272 shares in the company, valued at $6,453,384. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $635.50 on Thursday. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The firm has a market capitalization of $1.60 trillion, a P/E ratio of 26.57, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company’s fifty day moving average price is $573.28 and its 200 day moving average price is $608.00.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the company posted $4.71 earnings per share. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on META shares. Roth Capital boosted their price objective on Meta Platforms from $580.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Cantor Fitzgerald lifted their target price on Meta Platforms from $624.00 to $676.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. The Goldman Sachs Group boosted their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Susquehanna lowered their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. Finally, Rosenblatt Securities lifted their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $701.05.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in META. Inlight Wealth Management LLC purchased a new position in shares of Meta Platforms in the 1st quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms during the first quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Meta Platforms during the first quarter worth $33,000. Millstone Evans Group LLC purchased a new position in Meta Platforms in the 4th quarter valued at $40,000. Finally, WealthTrak Capital Management LLC acquired a new position in Meta Platforms in the 4th quarter valued at $43,000. Hedge funds and other 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.