Meta Platforms, Inc. (NASDAQ:META) CTO Sells $14,296,645.65 in Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the sale, the chief technology officer now directly owns 1,183 shares of the company's stock, valued at approximately $753,393.55. The trade was a 94.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, May 15th, Andrew Bosworth sold 5,057 shares of Meta Platforms stock. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52.

Meta Platforms Stock Performance

Shares of NASDAQ META traded up $0.09 during trading hours on Monday, reaching $640.43. The stock had a trading volume of 9,560,069 shares, compared to its average volume of 14,526,495. The business's fifty day moving average is $571.79 and its two-hundred day moving average is $607.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market cap 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 twelve month low of $442.65 and a twelve month high of $740.91.

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, beating analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. Meta Platforms's revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.71 earnings per share. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Ballentine Partners LLC raised its stake in Meta Platforms by 1.4% during the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock worth $34,087,000 after acquiring an additional 808 shares in the last quarter. UMB Bank n.a. raised its stake in Meta Platforms by 0.6% during the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock worth $82,314,000 after acquiring an additional 897 shares in the last quarter. Suvretta Capital Management LLC raised its stake in Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after acquiring an additional 1,850 shares in the last quarter. Skye Global Management LP raised its stake in Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after acquiring an additional 43,200 shares in the last quarter. Finally, Brueske Advisory Services LLC acquired a new position in Meta Platforms during the fourth quarter worth $459,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on META. Jefferies Financial Group lowered their price target on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Barclays lowered their price target on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Arete Research raised Meta Platforms to a "hold" rating in a research note on Friday, January 24th. Morgan Stanley boosted their price target on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, BMO Capital Markets boosted their price target on Meta Platforms from $530.00 to $610.00 and gave the company a "market perform" rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and an average price target of $701.05.

About Meta Platforms

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.