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 $3,662,588 were sold by Zuckerberg Mark on Jun 18 ’24. At $503.24 per share, Zuckerberg Mark sold 7,278 shares. The insider’s holdings dropped to 262,761 shares worth approximately $131.83 million following the completion of this transaction.
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Also, Newstead Jennifer sold 905 shares, netting a total of over 456,754 in proceeds. Following the sale of shares at $504.70 each, the insider now holds 39,655 shares.
Before that, Zuckerberg Mark had sold 16,702 shares from its account. In a trade valued at $8,436,693, the COB and CEO traded Meta Platforms Inc shares for $505.13 each. Upon closing the transaction, the insider’s holdings decreased to 16,702 shares, worth approximately $133.74 million.
As published in a research note from BMO Capital Markets on June 12, 2024, Meta Platforms Inc [META] has been retained to a Market perform and the price target has been revised to $450. Analysts at Exane BNP Paribas started covering the stock with ‘”an Underperform”‘ outlook in a report released in early May. As of April 25, 2024, Oppenheimer has reiterated its “an Outperform” rating for META. Earlier on April 15, 2024, Citigroup resumed its rating. Their recommendation was “a Buy” for META stock.
Analyzing META Stock Performance
During the last five days, there has been a drop of approximately -1.40%. Over the course of the year, Meta Platforms Inc shares have jumped approximately 41.74%. 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 $480.26, while a 200-day SMA reached $405.18. Nevertheless, trading volume fell to 11.13 million shares from 13.06 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 497.76, which, if violated, would cause prices to drop to 493.81. In the upper region, resistance lies at 504.66. The next price resistance is at 507.61. RSI (Relative Strength Index) is 59.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 7.03, which suggests the price will increase in the coming days. Percent R is at 20.67%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
