Insider Selling: Meta Platforms (NASDAQ:META) COO Sells $596,954.38 in Stock

Key Points

• Meta COO Javier Olivan sold 946 shares for about $597,000 at an average price of $631.03 under a pre-arranged Rule 10b5-1 trading plan. He retained 3,148 shares after the sale, a 23.11% reduction in his position.
• Meta’s latest quarterly results beat estimates: earnings per share were $7.40 versus the $6.54 consensus, while revenue of $64.6 billion topped forecasts and rose 26.1% year over year.
• Meta shares recently traded at $623.61, down 0.8% on the day described; analysts’ average price target was $833.12, and the stock carried a “Moderate Buy” consensus rating.

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) COO Javier Olivan sold 946 shares of the firm's stock in a transaction on Monday, November 9th. The stock was sold at an average price of $631.03, for a total value of $596,954.38. Following the completion of the sale, the chief operating officer directly owned 3,148 shares of the company's stock, valued at approximately $1,986,482.44. This trade represents a 23.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, November 9th, Javier Olivan sold 629 shares of Meta Platforms stock. The shares were sold at an average price of $631.03, for a total value of $396,917.87.
• On Monday, November 2nd, Javier Olivan sold 629 shares of Meta Platforms stock. The stock was sold at an average price of $614.15, for a total value of $386,300.35.
• On Monday, November 2nd, Javier Olivan sold 946 shares of Meta Platforms stock. The stock was sold at an average price of $614.15, for a total value of $580,985.90.
• On Monday, October 26th, Javier Olivan sold 629 shares of Meta Platforms stock. The stock was sold at an average price of $640.00, for a total value of $402,560.00.
• On Monday, October 26th, Javier Olivan sold 946 shares of Meta Platforms stock. The shares were sold at an average price of $640.00, for a total value of $605,440.00.
• On Monday, October 19th, Javier Olivan sold 629 shares of Meta Platforms stock. The shares were sold at an average price of $707.20, for a total value of $444,828.80.
• On Monday, October 19th, Javier Olivan sold 946 shares of Meta Platforms stock. The shares were sold at an average price of $707.20, for a total value of $669,011.20.
• On Monday, October 12th, Javier Olivan sold 629 shares of Meta Platforms stock. The stock was sold at an average price of $728.10, for a total transaction of $457,974.90.
• On Monday, October 12th, Javier Olivan sold 946 shares of Meta Platforms stock. The stock was sold at an average price of $728.10, for a total transaction of $688,782.60.
• On Monday, October 5th, Javier Olivan sold 629 shares of Meta Platforms stock. The stock was sold at an average price of $728.08, for a total transaction of $457,962.32.

Meta Platforms Stock Down 0.8%

META traded down $5.16 on Thursday, reaching $623.61. 10,268,372 shares of the company traded hands, compared to its average volume of 18,105,703. The stock's 50 day moving average price is $678.62 and its 200-day moving average price is $632.12. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $779.82. The company has a market cap of $1.59 trillion, a price-to-earnings ratio of 21.26, a PEG ratio of 1.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.90 and a quick ratio of 1.90.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Thursday, October 22nd. The social networking company reported $7.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.54 by $0.86. The company had revenue of $64.60 billion during the quarter, compared to the consensus estimate of $63.34 billion. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. The company's revenue was up 26.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.25 EPS. On average, sell-side analysts expect that Meta Platforms, Inc. will post 29.01 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, September 21st were paid a $0.5250 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms's dividend payout ratio is 7.16%.

Hedge Funds Weigh In On Meta Platforms

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bill Few Associates Inc. lifted its position in Meta Platforms by 1.3% during the 3rd quarter. Bill Few Associates Inc. now owns 1,206 shares of the social networking company's stock worth $874,000 after acquiring an additional 15 shares during the last quarter. Value Partners Investments Inc. grew its position in shares of Meta Platforms by 1.8% in the third quarter. Value Partners Investments Inc. now owns 866 shares of the social networking company's stock valued at $630,000 after purchasing an additional 15 shares during the last quarter. Tenzing Financial LLC grew its position in shares of Meta Platforms by 1.3% in the second quarter. Tenzing Financial LLC now owns 1,210 shares of the social networking company's stock valued at $726,000 after purchasing an additional 16 shares during the last quarter. Uptown Financial Advisors LLC increased its stake in shares of Meta Platforms by 1.3% in the second quarter. Uptown Financial Advisors LLC now owns 1,273 shares of the social networking company's stock worth $717,000 after purchasing an additional 16 shares during the period. Finally, Sheets Smith Wealth Management increased its stake in shares of Meta Platforms by 2.8% in the second quarter. Sheets Smith Wealth Management now owns 594 shares of the social networking company's stock worth $334,000 after purchasing an additional 16 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Latest Meta Platforms News

Investors following META have been watching these news items:

• Positive Sentiment: ETFs bought about $99.7 million of Meta shares on November 10, a sign of institutional demand. ETFs Bought $99.7 Million of Meta Platforms
• Negative Sentiment: A $27 billion AI data-center financing arrangement drew scrutiny from investor Steve Eisman, who compared it to Enron’s off-balance-sheet financing. Another investor disputed the analogy, but the debate may fuel concerns about the scale and transparency of Meta’s AI spending. Meta's $27B Off-Balance-Sheet AI Deal
• Negative Sentiment: The UK fined Meta over repeated inaccuracies in WhatsApp Business data, adding regulatory risk. Separately, a Brazilian electoral court fined Facebook over alleged unequal content treatment during a presidential campaign. Meta Fined by UK Regulator Meta Fined by Brazil Electoral Court

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. HSBC reduced their price objective on Meta Platforms from $905.00 to $830.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Arete Research raised their price target on shares of Meta Platforms from $735.00 to $806.00 and gave the company a "buy" rating in a report on Wednesday, September 16th. Citigroup lifted their price objective on shares of Meta Platforms from $895.00 to $905.00 and gave the company a "buy" rating in a research note on Thursday, October 22nd. DA Davidson lifted their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a research note on Thursday, October 22nd. Finally, Mizuho upped their price objective on shares of Meta Platforms from $750.00 to $950.00 and gave the stock an "outperform" rating in a report on Thursday, October 22nd. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $833.12.

Meta Platforms Company Profile

Meta Platforms, Inc. is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world. The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta's business, with its platforms providing tools for businesses to promote products and services.

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