Let’s look at the key reasons that are pushing Meta Platforms Inc (META) to new highs

A new trading day began on Monday, with Meta Platforms Inc (NASDAQ: META) stock price up 0.17% from the previous day of trading, before settling in for the closing price of $468.11. META’s price has ranged from $167.66 to $485.96 over the past 52 weeks.

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Over the past five-year period, the growth rate of yearbook sales for the company of the Communication Services sector was 19.99%. Meanwhile, its annual earnings per share averaged 33.86%. With a float of $2.19 billion, this company’s outstanding shares have now reached $2.21 billion.

Considering the fact that the conglomerate employs Feb 21 2024 people, you should pay attention to its efficiency factor.

Meta Platforms Inc (META) Breakdown of a Key Holders of the stock

As we move forward, let’s examine how large-scale investors are investing in this stock of the Internet Content & Information Industry. The insider ownership of Meta Platforms Inc is 13.98%, while institutional ownership is 67.03%. The most recent insider transaction that took place on Feb 09, was worth 45,601,727. In this transaction COB and CEO of this company sold 97,093 shares at a rate of $469.67, taking the stock ownership to the 0 shares. Before that another transaction happened on Feb 08, when Company’s COB and CEO sold 97,093 for $468.18, making the entire transaction worth $45,456,884. This insider now owns 0 shares in total.

Meta Platforms Inc (META) Recent Fiscal highlights

Wall Street market experts anticipate that the next fiscal year will bring earnings of 12.31 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around 33.86% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 26.00% during the next five years compared to 14.46% growth over the previous five years of trading.

Meta Platforms Inc (NASDAQ: META) Trading Performance Indicators

Here are Meta Platforms Inc’s current performance indicators. According to the last quarter’s results, the stock had a quick ratio of 2.67. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 8.86. Likewise, its price to free cash flow for the trailing twelve months is 27.26.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 14.90, a number that is poised to hit 4.24 in the next quarter and is forecasted to reach 23.20 in one year’s time.

Technical Analysis of Meta Platforms Inc (META)

Compared to the last year’s volume of 20.81 million, its volume of 20.27 million showed lagged in the last five days. As of the previous 9 days, the stock’s Stochastic %D was 82.85%. Additionally, its Average True Range was 13.46.

During the past 100 days, Meta Platforms Inc’s (META) raw stochastic average was set at 91.74%, which indicates a significant increase from 82.99% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 78.92% in the past 14 days, which was higher than the 38.72% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $372.38, while its 200-day Moving Average is $313.31. Nevertheless, the first resistance level for the watch stands at $476.50 in the near term. At $484.11, the stock is likely to face the second major resistance level. The third major resistance level sits at $489.07. If the price goes on to break the first support level at $463.94, it is likely to go to the next support level at $458.98. Now, if the price goes above the second support level, the third support stands at $451.37.

Meta Platforms Inc (NASDAQ: META) Key Stats

With a market capitalization of 1195.42 billion, the company has a total of 2,569,863K Shares Outstanding. Currently, annual sales are 116,609 M while annual income is 23,200 M. The company’s previous quarter sales were 34,146 M while its latest quarter income was 11,583 M.