Insider Selling: Meta Platforms, Inc. (NASDAQ:META) COO Sells 413 Shares of Stock

by · The Markets Daily

Meta Platforms, Inc. (NASDAQ:META – Get Free Report) COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $560.00, for a total transaction of $231,280.00. Following the completion of the sale, the chief operating officer now owns 12,772 shares in the company, valued at $7,152,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • 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 transaction of $214,995.41.
  • On Friday, September 6th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $522.00, for a total value of $215,586.00.
  • On Friday, August 30th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $521.35, for a total value of $215,317.55.
  • On Friday, August 23rd, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $536.92, for a total value of $221,747.96.
  • On Thursday, August 15th, Javier Olivan sold 4,900 shares of Meta Platforms stock. The shares were sold at an average price of $526.76, for a total transaction of $2,581,124.00.
  • On Thursday, August 1st, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $521.48, for a total transaction of $214,849.76.
  • On Thursday, July 25th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $463.00, for a total transaction of $190,756.00.
  • On Thursday, July 18th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $474.86, for a total value of $195,642.32.
  • On Thursday, July 11th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $530.81, for a total value of $218,693.72.
  • On Friday, July 5th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $512.00, for a total value of $210,944.00.

Meta Platforms Price Performance

NASDAQ:META opened at $567.84 on Friday. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $577.40. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm’s 50-day simple moving average is $514.38 and its 200 day simple moving average is $499.02. The firm has a market cap of $1.44 trillion, a price-to-earnings ratio of 32.62, a P/E/G ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META – Get Free Report) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the firm earned $3.23 earnings per share. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is 11.49%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Quest Partners LLC acquired a new stake in Meta Platforms during the fourth quarter worth about $32,000. Clear Investment Research LLC lifted its holdings in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the period. Delos Wealth Advisors LLC boosted its position in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms in the second quarter valued at approximately $38,000. Finally, Ruedi Wealth Management Inc. raised its position in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on META. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $660.00 price target on shares of Meta Platforms in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Evercore ISI raised their price objective on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group upped their target price on Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $591.23.

Check Out Our Latest Stock Analysis on Meta Platforms

Meta Platforms Company Profile

(Get Free Report)

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.

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