Insider Selling: Meta Platforms, Inc. (NASDAQ:META) COO Sells 413 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $520.57, for a total value of $214,995.41. Following the completion of the sale, the chief operating officer now directly owns 13,185 shares of the company’s stock, valued at $6,863,715.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, September 6th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $522.00, for a total transaction of $215,586.00.
• On Friday, August 30th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $521.35, for a total transaction of $215,317.55.
• On Friday, August 23rd, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $536.92, for a total transaction of $221,747.96.
• On Thursday, August 15th, Javier Olivan sold 4,900 shares of Meta Platforms stock. The stock was sold at an average price of $526.76, for a total value of $2,581,124.00.
• On Thursday, August 1st, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $521.48, for a total value of $214,849.76.
• On Thursday, July 25th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $463.00, for a total transaction of $190,756.00.
• On Thursday, July 18th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $474.86, for a total value of $195,642.32.
• On Thursday, July 11th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $530.81, for a total value of $218,693.72.
• On Friday, July 5th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $512.00, for a total transaction of $210,944.00.
• On Thursday, June 27th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $514.41, for a total transaction of $211,936.92.

Meta Platforms Stock Up 0.6 %

Shares of META stock traded up $3.04 on Tuesday, hitting $536.32. 11,672,337 shares of the stock were exchanged, compared to its average volume of 15,672,752. The firm has a market capitalization of $1.36 trillion, a P/E ratio of 30.74, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The business has a 50-day moving average of $505.21 and a 200 day moving average of $495.81. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.23 EPS. Equities analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of META. University of Texas Texas AM Investment Management Co. increased its position in Meta Platforms by 7.6% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 14,495 shares of the social networking company’s stock worth $7,309,000 after buying an additional 1,024 shares during the last quarter. American Trust boosted its stake in shares of Meta Platforms by 2.8% during the 2nd quarter. American Trust now owns 3,267 shares of the social networking company’s stock worth $1,647,000 after acquiring an additional 88 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Meta Platforms by 46.4% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 9,962 shares of the social networking company’s stock worth $5,023,000 after acquiring an additional 3,158 shares during the last quarter. Heritage Wealth Management Inc. bought a new stake in Meta Platforms in the 2nd quarter valued at $213,000. Finally, Sanctuary Advisors LLC bought a new stake in Meta Platforms in the 2nd quarter valued at $105,117,000. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on META. BMO Capital Markets restated a “market perform” rating and issued a $450.00 target price on shares of Meta Platforms in a research note on Wednesday, June 12th. Barclays raised their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Robert W. Baird upped their target price on shares of Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Guggenheim upped their price objective on Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

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.