Insider Selling: Meta Platforms, Inc. (NASDAQ:META) COO Sells 2,615 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) COO Javier Olivan sold 2,615 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $1,724,226.40. Following the completion of the transaction, the chief operating officer now directly owns 5,437 shares of the company's stock, valued at $3,584,940.32. This represents a 32.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, May 12th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were 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 transaction of $359,936.00.
• On Monday, April 28th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $555.54, for a total transaction of $337,768.32.
• On Monday, April 21st, Javier Olivan sold 406 shares of Meta Platforms stock. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14.
• On Monday, April 14th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $556.45, for a total value of $338,321.60.
• On Monday, April 7th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $488.18, for a total value of $296,813.44.
• On Monday, March 31st, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $563.03, for a total value of $342,322.24.
• On Monday, March 24th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $614.97, for a total value of $373,901.76.
• On Monday, March 17th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $607.50, for a total transaction of $369,360.00.
• On Monday, March 10th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $609.00, for a total value of $370,272.00.

Meta Platforms Stock Performance

META stock traded down $1.60 during midday trading on Wednesday, hitting $635.50. The stock had a trading volume of 11,441,033 shares, compared to its average volume of 14,494,295. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $572.72 and a 200 day simple moving average of $607.81. The firm has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 1.42 and a beta of 1.24.

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

Analysts Set New Price Targets

Several research firms have commented on META. Piper Sandler upped their target price on shares of Meta Platforms from $610.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Scotiabank lowered their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $740.00 price objective on shares of Meta Platforms in a research note on Thursday, May 1st. KeyCorp lifted their target price on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Arete Research upgraded shares of Meta Platforms to a "hold" rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $701.05.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Regent Peak Wealth Advisors LLC boosted its position in Meta Platforms by 5.8% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company's stock valued at $2,939,000 after buying an additional 277 shares in the last quarter. Fjell Capital LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $1,836,000. Opulen Financial Group LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at approximately $325,000. Daner Wealth Management LLC acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $334,000. Finally, Eagle Rock Investment Company LLC boosted its holdings in shares of Meta Platforms by 5.7% in the 4th quarter. Eagle Rock Investment Company LLC now owns 30,644 shares of the social networking company's stock worth $17,942,000 after acquiring an additional 1,648 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

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.