Meta Platforms Inc’s filing revealed that its Chief Legal Officer Newstead Jennifer unloaded Company’s shares for reported $0.28 million on Apr 02 ’24. In the deal valued at $485.00 per share,585 shares were sold. As a result of this transaction, Newstead Jennifer now holds 38,983 shares worth roughly $20.24 million.
Then, Zuckerberg Mark sold 31,465 shares, generating $15,464,600 in total proceeds. Upon selling the shares at $491.49, the COB and CEO now owns 0 shares.
Before that, Olivan Javier sold 490 shares. Meta Platforms Inc shares valued at $238,508 were divested by the Chief Operating Officer at a price of $486.75 per share. As a result of the transaction, Olivan Javier now holds 8,559 shares, worth roughly $4.44 million.
Oppenheimer reiterated its Meta Platforms Inc [META] rating to an Outperform in a research note published on April 08, 2024; the price target was $585. A number of analysts have revised their coverage, including Jefferies’s analysts, who remained covering the stock and in early April has reiterated a ‘”a Buy”‘ rating for it. Wolfe Research also remained covering META and reiterated its “an Outperform” recommendation on February 02, 2024. Wells Fargo maintained its rating on February 02, 2024. It rated META as “an Overweight”.
Price Performance Review of META
On Monday, Meta Platforms Inc [NASDAQ:META] saw its stock fall -1.53% to $519.25. Over the last five days, the stock has gained 5.68%. Meta Platforms Inc shares have risen nearly 46.70% since the year began. Nevertheless, the stocks have risen 145.53% over the past one year. While a 52-week high of $530.70 was reached on 04/08/24, a 52-week low of $207.13 was recorded on 01/02/24. SMA at 50 days reached $479.93, while 200 days put it at $358.77. A total of 13.14 million shares were traded, compared to the trading of 7.31 million shares in the previous session.
Levels Of Support And Resistance For META Stock
The 24-hour chart illustrates a support level at 514.93, which if violated will result in even more drops to 510.61. On the upside, there is a resistance level at 527.53. A further resistance level may holdings at 535.81. The Relative Strength Index (RSI) on the 14-day chart is 62.00, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 15.57, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 24.38%. Stochastics %K at 76.55% 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 Mar 15, 2024, growing by 50000.0 shares to a total of 29.92 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 29.87 million shares. There was a rise of 0.17%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.36% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.77.
The most recent change occurred on February 02, 2024 when Wedbush resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $520.
