Shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) hit a new 52-week low during Friday’s midday session after an insider sold shares of the company. The stock traded as low as $134.04 and last traded at $134.18, with volume at 554,862 shares. The stock previously closed at $139.07. Specifically, insider Jennifer Newstead sold 342 shares of Meta Platforms in a trade that took place on Tuesday, July 12. The stock was sold at an average price of $164.80, for a total transaction of $56,361.60. Following the sale, the insider now directly owns 17,747 shares of the company, valued at approximately $2,924,705.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other Meta Platforms news, Chief Financial Officer David M. Wehner sold 1,222 shares of Meta Platforms in a trade that took place on Monday, August 15. The stock was sold at an average price of $180.50, for a total transaction of $220,571.00. Following the sale, the CFO now directly owns 14,660 shares of the company, valued at approximately $2,646,130. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, insider Jennifer Newstead sold 342 shares of Meta Platforms in a trade that took place on Tuesday, July 12. The stock was sold at an average price of $164.80, for a total value of $56,361.60. Following the sale, the insider now owns 17,747 shares of the company, valued at $2,924,705.60. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 47,934 shares of the company worth $8,494,097. 13.59% of the shares are currently held by insiders of the company.

Analysts set new price targets

A number of brokerages have weighed in on META recently. DZ Bank downgraded Meta Platforms from a “hold” rating to a “sell” rating and set a price target of $140.00 for the company. in a report on Tuesday, August 2. Needham & Company LLC downgraded Meta Platforms from a “hold” rating to an “underperform” rating in a Monday, July 11 report. MKM Partners lowered its price target on meta platforms from $295.00 to $240.00 and set a “buy” rating for the company in a Thursday, July 28 report. UBS Group lowered its meta price target from $215.00 to $195.00 and set a “buy” rating for the company in a Thursday, July 28 report. Finally, Rosenblatt Securities cut its Meta Platforms price target from $156.00 to $154.00 and set a “neutral” rating for the company in a Wednesday, September 7 research report. Two equity research analysts gave the stock a sell rating, fifteen issued a hold rating, thirty-three gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $252.35.

Stock of meta-platforms down 3.2%

The company has a 50-day moving average price of $159.15 and a 200-day moving average price of $166.64. The company has a market cap of $361.64 billion, a price-to-earnings ratio of 11.52, a growth price-to-earnings ratio of 1.54, and a beta of 1.32.

Meta Platforms (NASDAQ:META – Get Rating) last announced its results on Wednesday, July 27. The social networking company reported earnings per share (EPS) of $2.46 for the quarter, missing analyst consensus estimates of $2.50 per ($0.04). The company posted revenue of $28.82 billion for the quarter, versus analyst estimates of $28.95 billion. Meta Platforms had a return on equity of 26.52% and a net margin of 28.16%. The company’s revenue for the quarter was down 0.9% year over year. During the same period last year, the company earned earnings per share of $3.61. As a group, sell-side analysts expect Meta Platforms, Inc. to post EPS of 9.88 for the current year.

Institutional entries and exits

Major investors have recently been buying and selling shares of the company. Landmark Wealth Management LLC acquired a new position in Meta Platforms during the first quarter worth $26,000. Disciplined Investments LLC increased its stake in Meta Platforms by 583.3% in the first quarter. Disciplined Investments LLC now owns 123 shares of the social networking company worth $27,000 after buying 105 more shares in the last quarter. Rise Advisors LLC bought a new position in Meta Platforms in the fourth quarter worth around $28,000. Comprehensive Financial Consultants Institutional Inc. bought a new position in Meta Platforms in the fourth quarter worth approximately $31,000. Finally, Dravo Bay LLC bought a new position in Meta Platforms in Q1 worth around $31,000. 61.70% of the shares are held by institutional investors and hedge funds.

About meta platforms

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Meta Platforms, Inc develops products that allow people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and home devices around the world. It operates in two segments, Family of Apps and Reality Labs. Products in the Family of Apps segment 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 feeds, stories, reels, videos, live and shops; Messenger, a messaging app that lets people connect with friends, family, groups, and businesses across all platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging app used by individuals and businesses to communicate and transact privately.

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