The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Meta Platforms Inc shares valued at $305,370 were sold by Newstead Jennifer on Apr 09 ’24. At $522.00 per share, Newstead Jennifer sold 585 shares. The insider’s holdings dropped to 38,398 shares worth approximately $20.09 million following the completion of this transaction.
Also, Olivan Javier sold 490 shares, netting a total of over 253,090 in proceeds. Following the sale of shares at $516.51 each, the insider now holds 8,069 shares.
Before that, Newstead Jennifer had sold 585 shares from its account. In a trade valued at $283,725, the Chief Legal Officer traded Meta Platforms Inc shares for $485.00 each. Upon closing the transaction, the insider’s holdings decreased to 585 shares, worth approximately $20.39 million.
As published in a research note from Piper Sandler on April 11, 2024, Meta Platforms Inc [META] has been retained to an Overweight and the price target has been revised to $600. Analysts at Oppenheimer resumed the stock at ‘”an Outperform”‘ outlook in a report released in early April. As of April 04, 2024, Jefferies has reiterated its “Buy” rating for META. Earlier on February 02, 2024, Wolfe Research resumed its rating. Their recommendation was “an Outperform” for META stock.
Analyzing META Stock Performance
During the last five days, there has been a surge of approximately 2.40%. Over the course of the year, Meta Platforms Inc shares have jumped approximately 47.80%. Shares of the company reached a 52-week high of $531.49 on 04/08/24 and a 52-week low of $340.01 on 01/02/24. A 50-day SMA is recorded $487.23, while a 200-day SMA reached $362.31. Nevertheless, trading volume fell to 10.3 million shares from 11.42 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 519.01, which, if violated, would cause prices to drop to 514.87. In the upper region, resistance lies at 525.58. The next price resistance is at 528.01. RSI (Relative Strength Index) is 63.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 12.76, which suggests the price will increase in the coming days. Percent R is at 16.76%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Meta Platforms Inc subject to short interest?
Stocks of Meta Platforms Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 50000.0 shares to 29.92 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 29.87 million shares. A jump of 0.17% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.77 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.77.
