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

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $522.00, for a total value of $215,586.00. Following the sale, the chief operating officer now owns 13,598 shares of the company’s stock, valued at approximately $7,098,156. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, August 30th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $521.35, for a total transaction 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 transaction 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 value of $2,581,124.00.
• On Thursday, August 1st, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $521.48, for a total value of $214,849.76.
• On Thursday, July 25th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was 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 shares were 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 shares were sold at an average price of $512.00, for a total transaction of $210,944.00.
• On Thursday, June 27th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $514.41, for a total transaction of $211,936.92.
• On Thursday, June 20th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $502.00, for a total transaction of $206,824.00.

Meta Platforms Stock Performance

NASDAQ:META remained flat at $504.79 during trading hours on Tuesday. The company’s stock had a trading volume of 9,892,955 shares, compared to its average volume of 15,812,263. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The firm has a 50-day moving average price of $505.09 and a 200-day moving average price of $494.74. The firm has a market capitalization of $1.28 trillion, a PE ratio of 28.99, a P/E/G ratio of 1.23 and a beta of 1.21.

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

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. Meta Platforms’s payout ratio is 11.49%.

Institutional Investors Weigh In On Meta Platforms

Several institutional investors and hedge funds have recently added to or reduced their stakes in META. Baird Financial Group Inc. grew its holdings in shares of Meta Platforms by 24.2% in the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after acquiring an additional 163,067 shares during the period. California State Teachers Retirement System increased its position in shares of Meta Platforms by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after purchasing an additional 51,900 shares during the last quarter. Voyager Global Management LP lifted its stake in shares of Meta Platforms by 37.3% in the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after purchasing an additional 140,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. boosted its holdings in shares of Meta Platforms by 400.0% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company’s stock worth $885,000 after buying an additional 2,000 shares during the last quarter. Finally, Beacon Pointe Advisors LLC grew its position in Meta Platforms by 4.7% during the fourth quarter. Beacon Pointe Advisors LLC now owns 166,403 shares of the social networking company’s stock valued at $58,900,000 after buying an additional 7,415 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on META shares. Oppenheimer lifted their price target on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler boosted their price objective on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Finally, UBS Group upped their price target on shares of Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

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.