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 $287,381 were sold by Newstead Jennifer on Apr 23 ’24. At $491.25 per share, Newstead Jennifer sold 585 shares. The insider’s holdings dropped to 37,228 shares worth approximately $16.43 million following the completion of this transaction.
Also, Olivan Javier sold 490 shares, netting a total of over 245,578 in proceeds. Following the sale of shares at $501.18 each, the insider now holds 7,089 shares.
Before that, Newstead Jennifer had sold 585 shares from its account. In a trade valued at $291,675, the Chief Legal Officer traded Meta Platforms Inc shares for $498.59 each. Upon closing the transaction, the insider’s holdings decreased to 585 shares, worth approximately $16.69 million.
As published in a research note from Oppenheimer on April 25, 2024, Meta Platforms Inc [META] has been retained to an Outperform and the price target has been revised to $500. Analysts at Citigroup resumed the stock at ‘”a Buy”‘ outlook in a report released in mid April. As of April 11, 2024, Piper Sandler has reiterated its “an Overweight” rating for META. Earlier on April 08, 2024, Oppenheimer resumed its rating. Their recommendation was “an Outperform” for META stock.
Analyzing META Stock Performance
During the last five days, there has been a drop of approximately -12.04%. Over the course of the year, Meta Platforms Inc shares have jumped approximately 24.70%. 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 $495.04, while a 200-day SMA reached $372.34. Nevertheless, trading volume fell to 82.53 million shares from 37.77 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 422.00, which, if violated, would cause prices to drop to 402.61. In the upper region, resistance lies at 453.27. The next price resistance is at 465.15. RSI (Relative Strength Index) is 31.14 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -21.63, which suggests the price will decrease in the coming days. Percent R is at 77.02%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
