Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Meta Platforms Inc shares valued at $520,104 were sold by Newstead Jennifer on Oct 22 ’24. At $574.70 per share, Newstead Jennifer sold 905 shares. The insider’s holdings dropped to 32,387 shares worth approximately $18.39 million following the completion of this transaction.
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Also, Olivan Javier sold 413 shares, netting a total of over 239,808 in proceeds. Following the sale of shares at $580.65 each, the insider now holds 11,120 shares.
Before that, Newstead Jennifer had added 905 shares to its account. In a trade valued at $520,104, the Officer bought Meta Platforms Inc shares for $574.70 each.
As published in their initiating research note from Scotiabank on October 11, 2024, Meta Platforms Inc [META] has been a Sector perform. Analysts at Cantor Fitzgerald resumed the stock at ‘”an Overweight”‘ outlook in a report released in early October. As of October 01, 2024, Pivotal Research Group has initiated its “Buy” rating for META. Earlier on September 30, 2024, Monness Crespi & Hardt 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 -1.59%. Over the course of the year, Meta Platforms Inc shares have jumped approximately 60.41%. Shares of the company reached a 52-week high of $602.95 on 10/07/24 and a 52-week low of $340.01 on 01/02/24. A 50-day SMA is recorded $550.46, while a 200-day SMA reached $495.63. Nevertheless, trading volume fell to 6.96 million shares from 14.25 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 563.24, which, if violated, would cause prices to drop to 558.70. In the upper region, resistance lies at 570.60. The next price resistance is at 573.42. RSI (Relative Strength Index) is 49.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -10.09, which suggests the price will decrease in the coming days. Percent R is at 84.89%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
