Meta Platforms, Inc. (NASDAQ:META - Get Free Report) CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer now owns 1,183 shares of the company's stock, valued at $753,393.55. This trade represents a 94.99% decrease in their position. The transaction was disclosed in a legal 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 stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52.
Meta Platforms Price Performance
META stock traded down $9.51 during midday trading on Friday, reaching $627.06. The company had a trading volume of 8,442,469 shares, compared to its average volume of 14,484,817. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The firm has a 50-day moving average price of $574.80 and a 200-day moving average price of $608.90. The company has a market capitalization of $1.58 trillion, a P/E ratio of 26.21, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its 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 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 analyst estimates of $41.45 billion. During the same period in the previous year, the business earned $4.71 earnings per share. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Meta Platforms
Hedge funds and other institutional investors have recently modified their holdings of the company. Inlight Wealth Management LLC purchased a new stake in shares of Meta Platforms in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms in the 1st quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Meta Platforms in the 1st quarter valued at $33,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms during the fourth quarter valued at about $40,000. Finally, WealthTrak Capital Management LLC purchased a new stake in Meta Platforms during the fourth quarter valued at about $43,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
META has been the subject of a number of recent research reports. The Goldman Sachs Group raised their target price on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Wells Fargo & Company decreased their target price on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. TD Securities decreased their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price objective on Meta Platforms from $610.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $740.00 target price on shares of Meta Platforms in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $701.05.
Check Out Our Latest Research Report on Meta Platforms
About Meta Platforms
(
Get Free Report)
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.
Further Reading
Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
