Insider Selling: Meta Platforms, Inc. (NASDAQ:META) COO Sells 608 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 608 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $631.25, for a total value of $383,800.00. Following the transaction, the chief operating officer now owns 2,582 shares in the company, valued at $1,629,887.50. This trade represents a 19.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Javier Olivan also recently made the following trade(s):

• On Monday, May 5th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $592.00, for a total value of $359,936.00.
• On Monday, April 28th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $555.54, for a total value of $337,768.32.
• On Monday, April 21st, Javier Olivan sold 406 shares of Meta Platforms stock. The stock was sold at an average price of $491.69, for a total value of $199,626.14.
• On Monday, April 14th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $556.45, for a total value of $338,321.60.
• On Monday, April 7th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $488.18, for a total value of $296,813.44.
• On Monday, March 31st, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $563.03, for a total value of $342,322.24.
• On Monday, March 24th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $614.97, for a total value of $373,901.76.
• On Monday, March 17th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $607.50, for a total value of $369,360.00.
• On Monday, March 10th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $609.00, for a total value of $370,272.00.
• On Monday, March 3rd, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $673.96, for a total value of $409,767.68.

Meta Platforms Trading Down 0.5%

Shares of META opened at $640.34 on Friday. The business’s 50-day moving average price is $571.37 and its 200 day moving average price is $606.72. The stock has a market capitalization of $1.62 trillion, a P/E ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. During the same quarter in the previous year, the business posted $4.71 EPS. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. Analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on META shares. Cantor Fitzgerald raised their target price on Meta Platforms from $624.00 to $676.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Wedbush raised their price target on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. TD Securities cut their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Benchmark cut their price objective on shares of Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Meta Platforms from $610.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $701.05.

Hedge Funds Weigh In On Meta Platforms

Several institutional investors and hedge funds have recently bought and sold shares of META. Regent Peak Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 5.8% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company’s stock valued at $2,939,000 after buying an additional 277 shares during the last quarter. RMR Wealth Builders lifted its holdings in shares of Meta Platforms by 4.9% during the 4th quarter. RMR Wealth Builders now owns 11,830 shares of the social networking company’s stock valued at $6,927,000 after buying an additional 556 shares during the last quarter. Matrix Trust Co acquired a new stake in Meta Platforms in the 4th quarter worth approximately $166,000. EWG Elevate Inc. boosted its position in Meta Platforms by 8.0% during the fourth quarter. EWG Elevate Inc. now owns 390 shares of the social networking company’s stock worth $228,000 after purchasing an additional 29 shares during the period. Finally, Fjell Capital LLC bought a new stake in Meta Platforms during the fourth quarter worth approximately $1,836,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Company Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.