Insider Selling: Meta Platforms, Inc. (NASDAQ:META) COO Sells 517 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) COO Javier Olivan sold 517 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $683.47, for a total value of $353,353.99. Following the sale, the chief operating officer now owns 8,370 shares of the company's stock, valued at approximately $5,720,643.90. This represents a 5.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, June 16th, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $699.27, for a total transaction of $361,522.59.
• On Monday, June 9th, Javier Olivan sold 517 shares of Meta Platforms stock. The stock was sold at an average price of $698.00, for a total transaction of $360,866.00.
• On Monday, June 2nd, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $644.93, for a total value of $333,428.81.
• On Tuesday, May 27th, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $635.41, for a total value of $328,506.97.
• On Monday, May 19th, Javier Olivan sold 517 shares of Meta Platforms stock. The stock was sold at an average price of $628.25, for a total value of $324,805.25.
• On Thursday, May 15th, Javier Olivan sold 2,615 shares of Meta Platforms stock. The shares were sold at an average price of $659.36, for a total transaction of $1,724,226.40.
• On Monday, May 12th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $631.25, for a total transaction of $383,800.00.
• On Monday, May 5th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $592.00, for a total value of $359,936.00.
• On Monday, April 28th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $555.54, for a total value of $337,768.32.
• On Monday, April 21st, Javier Olivan sold 406 shares of Meta Platforms stock. The shares were sold at an average price of $491.69, for a total value of $199,626.14.

Meta Platforms Stock Down 0.5%

Shares of META stock traded down $3.52 on Wednesday, reaching $708.68. 9,285,562 shares of the company were exchanged, compared to its average volume of 14,488,533. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company has a 50-day moving average of $625.25 and a 200-day moving average of $624.38. The company has a market cap of $1.78 trillion, a price-to-earnings ratio of 27.78, a PEG ratio of 1.75 and a beta of 1.26. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the company earned $4.71 earnings per share. The company's quarterly revenue was up 16.1% on a year-over-year basis. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.

Institutional Trading of Meta Platforms

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Inlight Wealth Management LLC bought a new stake in shares of Meta Platforms during the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Meta Platforms during the 1st quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in Meta Platforms during the 1st quarter worth approximately $33,000. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth approximately $40,000. Finally, WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth approximately $43,000. Institutional investors own 79.91% of the company's stock.

Analyst Ratings Changes

META has been the subject of a number of research reports. Rosenblatt Securities increased their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. The Goldman Sachs Group increased their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Benchmark decreased their target price on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. DA Davidson lowered their price target on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, TD Securities cut their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $712.69.

Meta Platforms Company Profile

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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