Meta Platforms, Inc. (NASDAQ:META) CTO Sells $14,296,645.65 in Stock

Meta Platforms, Inc. (NASDAQ:META) CTO Andrew Bosworth sold 22,449 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer now owns 1,183 shares in the company, valued at approximately $753,393.55. This represents a 94.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, May 15th, Andrew Bosworth sold 5,057 shares of Meta Platforms stock. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52.

Meta Platforms Stock Up 0.0%

Shares of META stock traded up $0.09 during trading hours on Monday, reaching $640.43. 9,560,069 shares of the company’s stock were exchanged, compared to its average volume of 14,526,495. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The stock’s 50 day moving average is $571.79 and its 200-day moving average is $607.61. 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 company has a market cap of $1.61 trillion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24.

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

Institutional Investors Weigh In On Meta Platforms

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock worth $111,948,344,000 after purchasing an additional 1,502,553 shares during the period. Geode Capital Management LLC grew its position in shares of Meta Platforms by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock valued at $28,719,970,000 after acquiring an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock valued at $24,777,282,000 after acquiring an additional 1,049,121 shares during the period. Capital World Investors grew its position in shares of Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock valued at $23,606,338,000 after acquiring an additional 1,141,355 shares during the period. Finally, Norges Bank acquired a new stake in shares of Meta Platforms during the 4th quarter valued at about $19,949,512,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on META. Argus set a $775.00 target price on Meta Platforms in a research note on Tuesday, February 4th. Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Bank of America increased their target price on Meta Platforms from $640.00 to $690.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Evercore ISI raised their price target on Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Finally, Guggenheim raised their price target on Meta Platforms from $675.00 to $725.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $701.05.

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.