Meta Platforms, Inc. (NASDAQ:META) COO Sells $1,724,226.40 in Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 2,615 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $1,724,226.40. Following the transaction, the chief operating officer now owns 5,437 shares in the company, valued at $3,584,940.32. The trade was a 32.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, May 12th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $631.25, for a total transaction of $383,800.00.
• 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 transaction of $359,936.00.
• On Monday, April 28th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $555.54, for a total transaction of $337,768.32.
• On Monday, April 21st, Javier Olivan sold 406 shares of Meta Platforms stock. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14.
• On Monday, April 14th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $556.45, for a total transaction of $338,321.60.
• On Monday, April 7th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $488.18, for a total transaction 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 transaction 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 transaction 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 transaction 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 transaction of $370,272.00.

Meta Platforms Stock Up 0.0%

META traded up $0.09 during trading hours on Monday, reaching $640.43. 9,560,069 shares of the stock traded hands, compared to its average volume of 14,526,495. The firm’s fifty day simple moving average is $571.79 and its two-hundred day simple moving average is $607.61. The company has a market cap of $1.61 trillion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on META shares. Benchmark reduced 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. Scotiabank reduced their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a research note on Monday, April 21st. Argus set a $775.00 price objective on shares of Meta Platforms in a research note on Tuesday, February 4th. DA Davidson reduced their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Arete Research raised shares of Meta Platforms to a “hold” rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $701.05.

Institutional Investors Weigh In On Meta Platforms

A number of large investors have recently added to or reduced their stakes in the company. SageView Advisory Group LLC grew its holdings in Meta Platforms by 1.9% during the 1st quarter. SageView Advisory Group LLC now owns 19,537 shares of the social networking company’s stock valued at $11,260,000 after purchasing an additional 359 shares in the last quarter. Advisory Alpha LLC grew its holdings in Meta Platforms by 21.9% during the 1st quarter. Advisory Alpha LLC now owns 8,435 shares of the social networking company’s stock valued at $4,862,000 after purchasing an additional 1,516 shares in the last quarter. Trinity Financial Advisors LLC grew its holdings in Meta Platforms by 17.1% during the 1st quarter. Trinity Financial Advisors LLC now owns 1,306 shares of the social networking company’s stock valued at $694,000 after purchasing an additional 191 shares in the last quarter. Oriental Harbor Investment Fund grew its holdings in Meta Platforms by 8.6% during the 1st quarter. Oriental Harbor Investment Fund now owns 181,073 shares of the social networking company’s stock valued at $104,363,000 after purchasing an additional 14,382 shares in the last quarter. Finally, Game Plan Financial Advisors LLC grew its holdings in Meta Platforms by 18.6% during the 1st quarter. Game Plan Financial Advisors LLC now owns 414 shares of the social networking company’s stock valued at $239,000 after purchasing an additional 65 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

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.