Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Meta Platforms Inc shares valued at $268,606 were sold by Newstead Jennifer on May 07 ’24. At $466.33 per share, Newstead Jennifer sold 576 shares. The insider’s holdings dropped to 36,067 shares worth approximately $17.15 million following the completion of this transaction.
Also, Olivan Javier sold 490 shares, netting a total of over 218,506 in proceeds. Following the sale of shares at $445.93 each, the insider now holds 6,109 shares.
Before that, Newstead Jennifer had sold 585 shares from its account. In a trade valued at $252,164, the Chief Legal Officer traded Meta Platforms Inc shares for $431.05 each. Upon closing the transaction, the insider’s holdings decreased to 585 shares, worth approximately $17.42 million.
As published in their initiating research note from Exane BNP Paribas on May 02, 2024, Meta Platforms Inc [META] has been an Underperform and the price target has been revised to $360. Analysts at Oppenheimer resumed the stock at ‘”an Outperform”‘ outlook in a report released in late April. As of April 15, 2024, Citigroup has reiterated its “Buy” rating for META. Earlier on April 11, 2024, Piper Sandler resumed its rating. Their recommendation was “an Overweight” for META stock.
Analyzing META Stock Performance
During the last five days, there has been a surge of approximately 7.64%. Over the course of the year, Meta Platforms Inc shares have jumped approximately 34.31%. 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 $489.59, while a 200-day SMA reached $379.68. Nevertheless, trading volume fell to 9.16 million shares from 11.68 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 470.01, which, if violated, would cause prices to drop to 464.59. In the upper region, resistance lies at 478.46. The next price resistance is at 481.49. RSI (Relative Strength Index) is 50.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 12.55, which suggests the price will increase in the coming days. Percent R is at 36.21%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
