Insider Selling: Meta Platforms, Inc. (NASDAQ:META) COO Sells 620 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 620 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $345,340.00. Following the transaction, the chief operating officer now directly owns 19,992 shares in the company, valued at approximately $11,135,544. This represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Friday, November 15th, Javier Olivan sold 4,891 shares of Meta Platforms stock. The stock was sold at an average price of $577.16, for a total transaction of $2,822,889.56.
• On Friday, November 1st, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $567.58, for a total value of $234,410.54.
• On Friday, October 25th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $574.16, for a total value of $237,128.08.
• On Friday, October 18th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $580.65, for a total value of $239,808.45.
• On Friday, October 11th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $584.83, for a total transaction of $241,534.79.
• On Friday, October 4th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $583.73, for a total transaction of $241,080.49.
• On Friday, September 27th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $570.00, for a total transaction of $235,410.00.
• On Friday, September 20th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $560.00, for a total transaction of $231,280.00.
• On Friday, September 13th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $520.57, for a total value of $214,995.41.
• On Friday, September 6th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $522.00, for a total value of $215,586.00.

Meta Platforms Stock Performance

Shares of META stock opened at $565.52 on Thursday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $571.30 and a two-hundred day simple moving average of $523.03. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The firm has a market capitalization of $1.43 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s payout ratio is 9.42%.

Wall Street Analyst Weigh In

META has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their target price on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Robert W. Baird upped their price objective on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Morgan Stanley boosted their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Wedbush reiterated an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Institutional Investors Weigh In On Meta Platforms

Institutional investors and hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. lifted its position in shares of Meta Platforms by 48.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after purchasing an additional 16,138 shares in the last quarter. Empowered Funds LLC increased its stake in Meta Platforms by 22.4% in the 1st quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock valued at $32,629,000 after buying an additional 12,301 shares during the last quarter. Cypress Asset Management Inc. TX lifted its position in shares of Meta Platforms by 541.8% during the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after buying an additional 3,224 shares in the last quarter. Northern Capital Management Inc. boosted its stake in shares of Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after buying an additional 21 shares during the last quarter. Finally, Catalytic Wealth RIA LLC grew its holdings in shares of Meta Platforms by 24.3% in the first quarter. Catalytic Wealth RIA LLC now owns 7,131 shares of the social networking company’s stock valued at $3,463,000 after acquiring an additional 1,396 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

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.