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

Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg sold 28,009 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $333.67, for a total transaction of $9,345,763.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 stock was 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 stock was 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 stock was 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 stock was 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 shares were sold at an average price of $310.60, for a total transaction of $8,699,595.40.

Meta Platforms Trading Up 1.5 %

Shares of META opened at $339.97 on Tuesday. The company has a 50 day simple moving average of $312.20 and a two-hundred day simple moving average of $293.76. Meta Platforms, Inc. has a 1 year low of $108.32 and a 1 year high of $341.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.57 and a quick ratio of 2.57. The firm has a market cap of $873.68 billion, a P/E ratio of 30.01, a price-to-earnings-growth ratio of 1.10 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 25th. The social networking company reported $4.39 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.77. The business had revenue of $34.15 billion during the quarter, compared to the consensus estimate of $33.58 billion. Meta Platforms had a return on equity of 26.40% and a net margin of 23.42%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the company earned $1.64 earnings per share. On average, equities analysts expect that Meta Platforms, Inc. will post 14.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Meta Platforms

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Meta Platforms by 101,072.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 777,798,687 shares of the social networking company’s stock worth $223,212,667,000 after purchasing an additional 777,029,902 shares during the period. BlackRock Inc. lifted its position in Meta Platforms by 1.9% in the second 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 last quarter. FMR LLC increased 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 purchasing an additional 5,001,647 shares during the last quarter. State Street Corp lifted its stake 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 worth $25,410,057,000 after purchasing an additional 1,548,671 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Meta Platforms by 0.3% in 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 buying an additional 115,131 shares in the last quarter. 62.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Roth Mkm increased their target price on shares of Meta Platforms from $360.00 to $365.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Guggenheim upped their price target 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. Stifel Nicolaus reissued a “buy” rating and issued a $405.00 price objective on shares of Meta Platforms in a research note on Tuesday, November 14th. Loop Capital increased their price objective on shares of Meta Platforms from $365.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Finally, Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $348.26.

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.