Meta Platforms (NASDAQ:META) COO Javier Olivan Sells 1,258 Shares

Meta Platforms, Inc. (NASDAQ:METAGet Free Report) COO Javier Olivan sold 1,258 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $600.00, for a total transaction of $754,800.00. Following the transaction, the chief operating officer directly owned 1,517 shares of the company’s stock, valued at approximately $910,200. This represents a 45.33% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • On Monday, July 27th, Javier Olivan sold 629 shares of Meta Platforms stock. The shares were sold at an average price of $607.85, for a total transaction of $382,337.65.
  • On Monday, July 27th, Javier Olivan sold 837 shares of Meta Platforms stock. The stock was sold at an average price of $607.85, for a total transaction of $508,770.45.
  • On Monday, July 20th, Javier Olivan sold 629 shares of Meta Platforms stock. The shares were sold at an average price of $645.85, for a total value of $406,239.65.
  • On Monday, July 20th, Javier Olivan sold 837 shares of Meta Platforms stock. The shares were sold at an average price of $645.85, for a total value of $540,576.45.
  • On Monday, July 6th, Javier Olivan sold 1,887 shares of Meta Platforms stock. The shares were sold at an average price of $600.62, for a total value of $1,133,369.94.
  • On Monday, July 6th, Javier Olivan sold 3,348 shares of Meta Platforms stock. The shares were sold at an average price of $600.97, for a total transaction of $2,012,047.56.
  • On Monday, June 15th, Javier Olivan sold 1,258 shares of Meta Platforms stock. The stock was sold at an average price of $600.00, for a total transaction of $754,800.00.
  • On Monday, June 15th, Javier Olivan sold 140 shares of Meta Platforms stock. The stock was sold at an average price of $600.00, for a total value of $84,000.00.
  • On Monday, June 1st, Javier Olivan sold 629 shares of Meta Platforms stock. The shares were sold at an average price of $629.29, for a total value of $395,823.41.
  • On Monday, June 1st, Javier Olivan sold 837 shares of Meta Platforms stock. The shares were sold at an average price of $629.29, for a total value of $526,715.73.

Meta Platforms Stock Performance

Shares of META traded down $20.27 during midday trading on Wednesday, hitting $578.85. 16,115,411 shares of the stock traded hands, compared to its average volume of 16,827,484. The business’s 50 day moving average price is $596.66 and its two-hundred day moving average price is $621.07. The firm has a market capitalization of $1.47 trillion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 1.02 and a beta of 1.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The social networking company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $7.19 by ($1.01). The firm had revenue of $60.80 billion during the quarter, compared to the consensus estimate of $60.22 billion. Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.14 earnings per share. Equities research analysts predict that Meta Platforms, Inc. will post 28.5 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 15th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, June 15th. Meta Platforms’s payout ratio is 7.91%.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds and other institutional investors have recently modified their holdings of META. Auto Owners Insurance Co raised its position in Meta Platforms by 76,587.7% in the 4th quarter. Auto Owners Insurance Co now owns 105,292,277 shares of the social networking company’s stock valued at $69,502,379,000 after purchasing an additional 105,154,977 shares during the last quarter. Norges Bank acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $22,152,075,000. Vanguard Group Inc. increased its stake in shares of Meta Platforms by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock valued at $132,015,115,000 after buying an additional 7,269,279 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of Meta Platforms by 488.1% in the fourth quarter. Corient Private Wealth LLC now owns 5,466,595 shares of the social networking company’s stock valued at $3,608,445,000 after buying an additional 4,537,076 shares during the last quarter. Finally, State Street Corp lifted its position in Meta Platforms by 5.1% during the 4th quarter. State Street Corp now owns 90,841,345 shares of the social networking company’s stock worth $59,963,463,000 after buying an additional 4,395,763 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Key Stories Impacting Meta Platforms

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on META shares. Phillip Securities upgraded shares of Meta Platforms to a “strong-buy” rating in a research report on Monday, August 3rd. Arete Research set a $735.00 price objective on shares of Meta Platforms and gave the company a “buy” rating in a report on Tuesday, June 2nd. Bank of America lowered their price objective on shares of Meta Platforms from $835.00 to $810.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. BNP Paribas Exane began coverage on Meta Platforms in a research note on Tuesday, June 2nd. They set an “outperform” rating for the company. Finally, Robert W. Baird lowered their price target on Meta Platforms from $830.00 to $750.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $785.32.

View Our Latest Stock Analysis on META

Meta Platforms Company Profile

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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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