Meta Platforms, Inc. (NASDAQ:META) CTO Andrew Bosworth Sells 5,057 Shares

Meta Platforms, Inc. (NASDAQ:META) CTO Andrew Bosworth sold 5,057 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 $3,334,383.52. Following the completion of the transaction, the chief technology officer now owns 16,463 shares of the company’s stock, valued at approximately $10,855,043.68. This trade represents a 23.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Andrew Bosworth also recently made the following trade(s):

• On Friday, May 16th, Andrew Bosworth sold 22,449 shares of Meta Platforms stock. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65.

Meta Platforms Trading Up 0.0%

NASDAQ:META opened at $640.43 on Tuesday. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The firm has a market cap of $1.61 trillion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $571.79 and a 200 day moving average price of $607.61.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) 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 business had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. During the same quarter last year, the business posted $4.71 EPS. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. Sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. JMP Securities reissued a “market outperform” rating and issued a $750.00 price objective on shares of Meta Platforms in a report on Wednesday, April 30th. Raymond James dropped their price target on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 1st. Royal Bank of Canada restated an “outperform” rating and set a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. Tigress Financial reaffirmed a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. Finally, UBS Group boosted their target price on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $701.05.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in META. Inlight Wealth Management LLC purchased a new position in Meta Platforms in the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Meta Platforms in the 1st quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Meta Platforms during the 1st quarter worth about $33,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms during the fourth quarter worth approximately $40,000. Finally, WealthTrak Capital Management LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

About Meta Platforms

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.