Meta Platforms Inc. [META] Insider Newstead Jennifer sells 670 Shares


Meta Platforms Inc.’s recently made public that its Chief Legal Officer Newstead Jennifer unloaded Company’s shares for reported $0.19 million on Aug 29. In the deal valued at $288.45 per share,670 shares were sold. As a result of this transaction, Newstead Jennifer now holds 39,020 shares worth roughly $ 11.71 million.

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Then, Newstead Jennifer sold 670 shares, generating $196,008 in total proceeds. Upon selling the shares at $292.55, the Chief Legal Officer now owns 39,690 shares.

Before that, Olivan Javier sold 4,277 shares. Meta Platforms Inc. shares valued at $1,253,161 were divested by the Chief Operating Officer at a price of $293.00 per share. As a result of the transaction, Olivan Javier now holds 82,858 shares, worth roughly $24.87 million.

Wedbush initiated its Meta Platforms Inc. [META] rating to an Outperform in a research note published on Tuesday, August 22, 2023; the price target was $350. PT values the company’s stock at a premium of 14.24 to its Tuesday closing price.

Price Performance Review of META

On Tuesday, Meta Platforms Inc. [NASDAQ:META] saw its stock jump 1.27% to $300.15. On the same session, the stock had its day’s lowest price of $295.51, but rose to a high of $301.39. Over the last five days, the stock has gained 3.41%. Meta Platforms Inc. shares have risen nearly 149.42% since the year began. Nevertheless, the stocks have risen 81.51% over the past one year. While a 52-week high of $326.20 was reached on 07/28/23, a 52-week low of $88.09 was recorded on 01/03/23. SMA at 50 days reached $299.51, while 200 days put it at $215.05. A total of 14.93 million shares were traded, compared to the trading of 12.84 million shares in the previous session.

Levels Of Support And Resistance For META Stock

The 24-hour chart illustrates a support level at 296.64, which if violated will result in even more drops to 293.14. On the upside, there is a resistance level at 302.52. A further resistance level may holdings at 304.90. The Relative Strength Index (RSI) on the 14-day chart is 53.05, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.87, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 5.81%. Stochastics %K at 76.04% indicates the stock is a holding.

How much short interest is there in Meta Platforms Inc.?

A steep rise in short interest was recorded in Meta Platforms Inc. stocks on Aug 14, 2023, dropping by -2.91 million shares to a total of 26.08 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 28.99 million shares. There was a decline of -11.16%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.18% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.07.


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