Insider Selling: Meta Platforms, Inc. (NASDAQ:META) COO Sells 517 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 517 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $683.47, for a total value of $353,353.99. Following the completion of the sale, the chief operating officer now directly owns 8,370 shares of the company’s stock, valued at approximately $5,720,643.90. The trade was a 5.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, June 16th, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $699.27, for a total value of $361,522.59.
• On Monday, June 9th, Javier Olivan sold 517 shares of Meta Platforms stock. The stock was sold at an average price of $698.00, for a total transaction of $360,866.00.
• On Monday, June 2nd, Javier Olivan sold 517 shares of Meta Platforms stock. The stock was sold at an average price of $644.93, for a total transaction of $333,428.81.
• On Tuesday, May 27th, Javier Olivan sold 517 shares of Meta Platforms stock. The stock was sold at an average price of $635.41, for a total transaction of $328,506.97.
• On Monday, May 19th, Javier Olivan sold 517 shares of Meta Platforms stock. The stock was sold at an average price of $628.25, for a total value of $324,805.25.
• On Thursday, May 15th, Javier Olivan sold 2,615 shares of Meta Platforms stock. The shares were sold at an average price of $659.36, for a total value of $1,724,226.40.
• On Monday, May 12th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $631.25, for a total value 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 stock was sold at an average price of $491.69, for a total transaction of $199,626.14.

Meta Platforms Stock Up 2.5%

Meta Platforms stock opened at $726.09 on Friday. The firm has a 50 day moving average price of $633.87 and a 200-day moving average price of $625.73. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The company has a market capitalization of $1.83 trillion, a P/E ratio of 28.32, a P/E/G ratio of 1.74 and a beta of 1.26.

Meta Platforms (NASDAQ:META) last posted 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 38.69% and a net margin of 39.11%. The business had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the business earned $4.71 earnings per share. Meta Platforms’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms’s payout ratio is 8.19%.

Institutional Investors Weigh In On Meta Platforms

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fjell Capital LLC bought a new stake in Meta Platforms during the 4th quarter valued at $1,836,000. Opulen Financial Group LLC purchased a new position in shares of Meta Platforms in the fourth quarter valued at $325,000. Daner Wealth Management LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at $334,000. Brighton Jones LLC lifted its holdings in Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after purchasing an additional 570 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Meta Platforms during the 4th quarter worth about $112,406,000. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

META has been the topic of several research reports. DA Davidson dropped their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, April 14th. UBS Group reaffirmed a “buy” rating and set a $812.00 price target (up from $683.00) on shares of Meta Platforms in a research note on Thursday. Scotiabank reduced their price objective on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a research note on Monday, April 21st. Benchmark decreased their price objective on Meta Platforms from $820.00 to $640.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group increased their target price on Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $715.76.

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.