Andrew Bosworth Sells 5,057 Shares of Meta Platforms, Inc. (NASDAQ:META) Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction 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 transaction, the chief technology officer now owns 16,463 shares in the company, valued at approximately $10,855,043.68. This trade represents a 23.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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 value of $14,296,645.65.

Meta Platforms Trading Down 1.5%

META stock traded down $9.51 during trading on Friday, hitting $627.06. The company had a trading volume of 8,442,469 shares, compared to its average volume of 14,484,817. The firm has a market capitalization of $1.58 trillion, a P/E ratio of 26.21, a PEG ratio of 1.42 and a beta of 1.24. The company has a 50 day simple moving average of $574.80 and a 200-day simple moving average of $608.90. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. 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 earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company posted $4.71 earnings per share. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

META has been the topic of several research analyst reports. Oppenheimer boosted their price objective on Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Citigroup boosted their price target on Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Piper Sandler boosted their target price on shares of Meta Platforms from $610.00 to $650.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Royal Bank of Canada reissued an "outperform" rating and issued a $740.00 target price on shares of Meta Platforms in a report on Thursday, May 1st. Finally, Pivotal Research lowered their target price on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $701.05.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Ballentine Partners LLC increased its stake in shares of Meta Platforms by 1.4% during the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock valued at $34,087,000 after buying an additional 808 shares during the period. UMB Bank n.a. increased its position in Meta Platforms by 0.6% during the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock valued at $82,314,000 after purchasing an additional 897 shares during the period. Suvretta Capital Management LLC increased its position in Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after purchasing an additional 1,850 shares during the period. Skye Global Management LP increased its position in Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after purchasing an additional 43,200 shares during the period. Finally, Brueske Advisory Services LLC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $459,000. 79.91% of the stock is currently owned by hedge funds and other 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.