Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan Sells 2,615 Shares

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 2,615 shares of the firm’s stock in a transaction on 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 directly owns 5,437 shares of the company’s stock, valued at approximately $3,584,940.32. This represents a 32.48% decrease in their ownership of the stock. The sale was disclosed in a 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 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 stock was 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 stock was 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 stock was 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 stock was 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 Trading Up 0.0%

Shares of Meta Platforms stock traded up $0.09 during trading on Monday, hitting $640.43. The stock had a trading volume of 9,560,069 shares, compared to its average volume of 14,526,495. The stock has a 50 day simple moving average of $571.79 and a 200 day simple moving average of $607.61. The company has a market capitalization of $1.61 trillion, a PE ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91.

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, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $4.71 earnings per share. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in META. Regent Peak Wealth Advisors LLC grew its position in Meta Platforms by 5.8% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company’s stock valued at $2,939,000 after purchasing an additional 277 shares in the last quarter. Fjell Capital LLC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $1,836,000. Opulen Financial Group LLC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $325,000. Daner Wealth Management LLC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $334,000. Finally, Eagle Rock Investment Company LLC grew its position in Meta Platforms by 5.7% during the fourth quarter. Eagle Rock Investment Company LLC now owns 30,644 shares of the social networking company’s stock valued at $17,942,000 after purchasing an additional 1,648 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Evercore ISI lifted their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Barclays decreased their price target on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Piper Sandler lifted their price target on shares of Meta Platforms from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Susquehanna decreased their price target on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Finally, KeyCorp lifted their price target on shares of Meta Platforms from $645.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. One investment 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. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $701.05.

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.