Meta Platforms (NASDAQ:FB) Hits New 12-Month Low Following Insider Selling

Meta Platforms, Inc. (NASDAQ:FBGet Rating)’s share price reached a new 52-week low on Thursday after an insider sold shares in the company. The company traded as low as $185.55 and last traded at $188.08, with a volume of 1755554 shares. The stock had previously closed at $200.42.

Specifically, CFO David M. Wehner sold 1,095 shares of the company’s stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $217.70, for a total transaction of $238,381.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 121 shares of the company’s stock in a transaction dated Tuesday, February 8th. The stock was sold at an average price of $220.57, for a total value of $26,688.97. The disclosure for this sale can be found here. Insiders sold 7,876 shares of company stock worth $1,707,217 over the last 90 days. Company insiders own 14.01% of the company’s stock.

A number of research analysts recently commented on the company. Evercore ISI reduced their price target on Meta Platforms from $430.00 to $350.00 and set an “outperform” rating for the company in a report on Thursday, February 3rd. MKM Partners reduced their price target on Meta Platforms from $365.00 to $315.00 and set a “buy” rating for the company in a report on Thursday, April 14th. Bank of America reduced their price target on Meta Platforms from $410.00 to $333.00 and set a “buy” rating for the company in a report on Thursday, February 3rd. Jefferies Financial Group reduced their price target on Meta Platforms from $420.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, February 3rd. Finally, KGI Securities reissued a “neutral” rating and issued a $270.00 price target on shares of Meta Platforms in a report on Tuesday, February 8th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $327.22.

The company has a fifty day moving average of $209.93 and a 200-day moving average of $282.28. The firm has a market capitalization of $501.14 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39.

Meta Platforms (NASDAQ:FBGet Rating) last posted its earnings results on Wednesday, February 2nd. The social networking company reported $3.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.78 by ($0.11). Meta Platforms had a net margin of 33.38% and a return on equity of 29.71%. The company had revenue of $33.67 billion for the quarter, compared to the consensus estimate of $33.44 billion. During the same quarter last year, the business earned $3.88 earnings per share. Meta Platforms’s quarterly revenue was up 19.8% on a year-over-year basis. On average, equities research analysts expect that Meta Platforms, Inc. will post 12.37 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Widmann Financial Services Inc. bought a new position in shares of Meta Platforms in the fourth quarter worth about $100,000. Chilton Capital Management LLC grew its position in Meta Platforms by 1.0% during the third quarter. Chilton Capital Management LLC now owns 108,192 shares of the social networking company’s stock worth $36,719,000 after buying an additional 1,119 shares in the last quarter. Steigerwald Gordon & Koch Inc. grew its position in Meta Platforms by 4.1% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 2,012 shares of the social networking company’s stock worth $677,000 after buying an additional 80 shares in the last quarter. Evergreen Capital Management LLC grew its position in Meta Platforms by 6.2% during the third quarter. Evergreen Capital Management LLC now owns 40,602 shares of the social networking company’s stock worth $13,780,000 after buying an additional 2,357 shares in the last quarter. Finally, Colony Group LLC grew its position in Meta Platforms by 13.7% during the third quarter. Colony Group LLC now owns 27,256 shares of the social networking company’s stock worth $9,250,000 after buying an additional 3,287 shares in the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.

About Meta Platforms (NASDAQ:FB)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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