Taking a look at what insiders are doing to gauge the Meta Platforms Inc. (META)’s direction

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Meta Platforms Inc. shares valued at $55,141 were sold by Newstead Jennifer on Sep 13. At $161.23 per share, Newstead Jennifer sold 342 shares. The insider’s holdings dropped to 22,638 shares worth approximately $3.22 million following the completion of this transaction.

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Also, Newstead Jennifer sold 342 shares, netting a total of over 54,741 in proceeds. Following the sale of shares at $160.06 each, the insider now holds 22,980 shares.

Before that, Newstead Jennifer had sold 342 shares from its account. In a trade valued at $54,802, the Chief Legal Officer traded Meta Platforms Inc. shares for $160.24 each. Upon closing the transaction, the insider’s holdings decreased to 342 shares, worth approximately $3.31 million.

As published in a research note from Morgan Stanley on August 19, 2022, Meta Platforms Inc. [META] has been retained to an Overweight and the price target has been revised to $225. This represents a 36.84% premium over Wednesday’s closing price. Analysts at DZ Bank downgraded the stock from ‘”a Hold”‘ to ‘”a Sell”‘ outlook in a report released in late July. As of July 26, 2022, Itau BBA has initiated its “Market perform” rating for META. Earlier on July 13, 2022, Cowen resumed its rating. Their recommendation was “an Outperform” for META stock.

Analyzing META’s Price Performance

On Wednesday, Meta Platforms Inc. [NASDAQ: META] plunged -2.72% to $142.12. The stock’s lowest price that day was $142.00, but it reached a high of $149.60 in the same session. During the last five days, there has been a drop of approximately -6.17%. Over the course of the year, Meta Platforms Inc. shares have dropped approximately -57.75%. Shares of the company reached a 52-week high of $343.09 on 01/04/22 and a 52-week low of $142.00 on 09/21/22. A 50-day SMA is recorded $164.76, while a 200-day SMA reached $216.06. Nevertheless, trading volume fell to 38.05 million shares from 23.22 million shares the previous day.

Support And Resistance Levels for Meta Platforms Inc. (META)

According to the 24-hour chart, there is a support level at 139.55, which, if violated, would cause prices to drop to 136.97. In the upper region, resistance lies at 147.15. The next price resistance is at 152.17. RSI (Relative Strength Index) is 32.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -10.41, which suggests the price will decrease in the coming days. Percent R is at 99.59%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Meta Platforms Inc. subject to short interest?

Stocks of Meta Platforms Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -4.63 million shares to 26.81 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 31.44 million shares. A decline of -17.27% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 0.87 of the overall float, the days-to-cover ratio (short ratio) decline to 0.87.

Which companies own the most shares of Meta Platforms Inc. (META)?

According to The Vanguard Group, Inc. filings, the company currently owns 171,134,178 shares, which is about 7.50% of the total META shares outstanding. The investor’s shares have appreciated by 68,958 from its previous 13-F filing of 171065220.0 shares. With the completion of the sale transaction, Fidelity Management & Research Co’s stake is now worth $17,734,196,663. BlackRock Fund Advisors reduced a -0.59% interest valued at $16.38 billion while SSgA Funds Management, Inc. sold a -2,829,787 stake. A total of -23,026,442 shares of Meta Platforms Inc. were sold by T. Rowe Price Associates, Inc. during the quarter, and -4,518,349 were sold by Capital Research & Management Co. In its current portfolio, Geode Capital Management LLC holds 42,657,115 shares valued at $6.95 billion.

In terms of Meta Platforms Inc. share price expectations, FactSet research, analysts set an average price target of $216.67 in the next 12 months, up nearly 47.17% from the previous closing price of $146.09. Analysts anticipate Meta Platforms Inc. stock to reach $292.00 by 2022, with the lowest price target being $150.00. In spite of this, 53 analysts ranked Meta Platforms Inc. stock as an Overweight at the end of 2022.


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