Insider Selling: Meta Platforms, Inc. (NASDAQ:META) CTO Sells 5,057 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) CTO Andrew Bosworth sold 5,057 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the sale, the chief technology officer now directly owns 16,463 shares of the company's stock, valued at $10,855,043.68. This trade represents a 23.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Andrew Bosworth also recently made the following trade(s):

• On Friday, May 16th, Andrew Bosworth sold 22,449 shares of Meta Platforms stock. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65.

Meta Platforms Trading Up 0.0%

NASDAQ:META traded up $0.09 during mid-day trading on Monday, hitting $640.43. 9,560,069 shares of the stock traded hands, compared to its average volume of 14,526,495. The stock has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The firm's 50 day moving average is $571.79 and its two-hundred day moving average is $607.61. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm's revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.71 EPS. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on META shares. Moffett Nathanson raised their price target on shares of Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Meta Platforms from $610.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Guggenheim raised their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Wells Fargo & Company dropped their target price on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, BMO Capital Markets raised their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $701.05.

Hedge Funds Weigh In On Meta Platforms

Several hedge funds have recently added to or reduced their stakes in META. Norges Bank bought a new position in Meta Platforms in the 4th quarter worth about $19,949,512,000. GAMMA Investing LLC grew its stake in Meta Platforms by 67,172.9% in the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after acquiring an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after acquiring an additional 6,240,810 shares in the last quarter. Nuveen LLC bought a new position in Meta Platforms in the 1st quarter worth about $2,990,544,000. Finally, Raymond James Financial Inc. bought a new position in Meta Platforms in the 4th quarter worth about $2,243,603,000. 79.91% of the stock is currently owned by institutional investors.

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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