Insider Selling: Meta Platforms (NASDAQ:META) COO Sells 926 Shares of Stock

Meta Platforms, Inc. (NASDAQ:METAGet Free Report) COO Javier Olivan sold 926 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $632.02, for a total transaction of $585,250.52. Following the transaction, the chief operating officer owned 14,261 shares of the company’s stock, valued at $9,013,237.22. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Monday, March 16th, Javier Olivan sold 629 shares of Meta Platforms stock. The stock was sold at an average price of $632.02, for a total value of $397,540.58.
  • On Monday, March 9th, Javier Olivan sold 629 shares of Meta Platforms stock. The shares were sold at an average price of $634.94, for a total value of $399,377.26.
  • On Monday, March 9th, Javier Olivan sold 926 shares of Meta Platforms stock. The stock was sold at an average price of $634.94, for a total value of $587,954.44.
  • On Monday, March 2nd, Javier Olivan sold 629 shares of Meta Platforms stock. The stock was sold at an average price of $637.21, for a total value of $400,805.09.
  • On Monday, March 2nd, Javier Olivan sold 926 shares of Meta Platforms stock. The shares were sold at an average price of $637.21, for a total value of $590,056.46.
  • On Monday, February 23rd, Javier Olivan sold 629 shares of Meta Platforms stock. The stock was sold at an average price of $652.68, for a total value of $410,535.72.
  • On Monday, February 23rd, Javier Olivan sold 926 shares of Meta Platforms stock. The stock was sold at an average price of $652.68, for a total transaction of $604,381.68.
  • On Tuesday, February 17th, Javier Olivan sold 629 shares of Meta Platforms stock. The shares were sold at an average price of $639.18, for a total transaction of $402,044.22.
  • On Tuesday, February 17th, Javier Olivan sold 172 shares of Meta Platforms stock. The shares were sold at an average price of $639.18, for a total transaction of $109,938.96.
  • On Sunday, February 15th, Javier Olivan sold 2,461 shares of Meta Platforms stock. The shares were sold at an average price of $639.77, for a total transaction of $1,574,473.97.

Meta Platforms Stock Performance

META traded down $6.98 on Wednesday, reaching $615.68. The stock had a trading volume of 11,697,104 shares, compared to its average volume of 14,986,292. The business’s 50-day moving average price is $651.86 and its two-hundred day moving average price is $675.20. The company has a market cap of $1.56 trillion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.27.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.16 by $0.72. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The business had revenue of $59.89 billion for the quarter, compared to analyst estimates of $58.33 billion. During the same period in the prior year, the company posted $8.02 EPS. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, March 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s dividend payout ratio is currently 8.94%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. DA Davidson upped their target price on Meta Platforms from $825.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Robert W. Baird boosted their price target on shares of Meta Platforms from $815.00 to $830.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. Citigroup restated an “outperform” rating on shares of Meta Platforms in a research report on Thursday, January 29th. Evercore increased their price objective on shares of Meta Platforms from $875.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Finally, BNP Paribas Exane began coverage on shares of Meta Platforms in a research note on Monday, November 24th. They set an “outperform” rating and a $800.00 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $846.63.

View Our Latest Stock Analysis on META

Hedge Funds Weigh In On Meta Platforms

Several hedge funds and other institutional investors have recently modified their holdings of META. Goldstone Financial Group LLC lifted its position in shares of Meta Platforms by 44.4% during the 3rd quarter. Goldstone Financial Group LLC now owns 3,752 shares of the social networking company’s stock valued at $2,756,000 after acquiring an additional 1,153 shares during the last quarter. CW Advisors LLC raised its position in shares of Meta Platforms by 27.8% during the second quarter. CW Advisors LLC now owns 176,762 shares of the social networking company’s stock worth $130,467,000 after purchasing an additional 38,432 shares during the period. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Meta Platforms by 34.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 52,252 shares of the social networking company’s stock valued at $38,373,000 after purchasing an additional 13,311 shares during the last quarter. Cherokee Insurance Co acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $3,321,000. Finally, Becker Capital Management Inc. boosted its position in shares of Meta Platforms by 5.0% in the 3rd quarter. Becker Capital Management Inc. now owns 35,052 shares of the social networking company’s stock valued at $25,741,000 after purchasing an additional 1,657 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms News Summary

Here are the key news stories impacting Meta Platforms this week:

About Meta Platforms

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Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Insider Buying and Selling by Quarter for Meta Platforms (NASDAQ:META)

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