Insider Selling: Meta Platforms (NASDAQ:META) COO Sells $369,448.20 in Stock

Meta Platforms, Inc. (NASDAQ:METAGet Free Report) COO Javier Olivan sold 517 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $714.60, for a total transaction of $369,448.20. Following the transaction, the chief operating officer owned 9,615 shares of the company’s stock, valued at approximately $6,870,879. This represents a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

  • On Monday, January 26th, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $665.00, for a total value of $343,805.00.
  • On Tuesday, January 20th, Javier Olivan sold 517 shares of Meta Platforms stock. The stock was sold at an average price of $608.35, for a total value of $314,516.95.
  • On Monday, January 12th, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $653.00, for a total value of $337,601.00.
  • On Monday, January 5th, Javier Olivan sold 517 shares of Meta Platforms stock. The stock was sold at an average price of $650.41, for a total value of $336,261.97.
  • On Monday, December 29th, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $658.14, for a total value of $340,258.38.
  • On Monday, December 22nd, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $661.11, for a total transaction of $341,793.87.
  • On Monday, December 15th, Javier Olivan sold 517 shares of Meta Platforms stock. The stock was sold at an average price of $646.00, for a total transaction of $333,982.00.
  • On Monday, December 8th, Javier Olivan sold 517 shares of Meta Platforms stock. The stock was sold at an average price of $669.63, for a total transaction of $346,198.71.
  • On Monday, December 1st, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $639.03, for a total transaction of $330,378.51.
  • On Monday, November 24th, Javier Olivan sold 517 shares of Meta Platforms stock. The stock was sold at an average price of $598.54, for a total transaction of $309,445.18.

Meta Platforms Stock Down 1.3%

Shares of META stock opened at $661.46 on Friday. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The stock has a market cap of $1.67 trillion, a price-to-earnings ratio of 28.15, a PEG ratio of 1.14 and a beta of 1.28. The firm’s 50-day moving average is $656.76 and its 200-day moving average is $695.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.60 and a current ratio of 2.60.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results on Wednesday, January 28th. The social networking company reported $8.88 EPS for the quarter, topping analysts’ consensus estimates of $8.16 by $0.72. The business had revenue of $59.89 billion during the quarter, compared to analysts’ expectations of $58.33 billion. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.Meta Platforms’s quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the company posted $8.02 earnings per share. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, December 15th. Meta Platforms’s dividend payout ratio is 8.94%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Meta Platforms by 0.4% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,506 shares of the social networking company’s stock valued at $2,587,000 after buying an additional 13 shares during the period. Hemington Wealth Management lifted its holdings in shares of Meta Platforms by 0.6% during the 2nd quarter. Hemington Wealth Management now owns 2,223 shares of the social networking company’s stock worth $1,641,000 after acquiring an additional 14 shares during the period. Trust Co of the South boosted its position in shares of Meta Platforms by 0.8% during the 3rd quarter. Trust Co of the South now owns 1,850 shares of the social networking company’s stock worth $1,359,000 after acquiring an additional 14 shares in the last quarter. Sentinel Pension Advisors LLC increased its stake in Meta Platforms by 1.6% in the third quarter. Sentinel Pension Advisors LLC now owns 915 shares of the social networking company’s stock valued at $672,000 after acquiring an additional 14 shares during the last quarter. Finally, Alpine Bank Wealth Management raised its position in Meta Platforms by 0.3% during the third quarter. Alpine Bank Wealth Management now owns 4,301 shares of the social networking company’s stock valued at $3,159,000 after purchasing an additional 14 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on META shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Meta Platforms in a report on Monday, December 29th. Zacks Research downgraded shares of Meta Platforms from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Stifel Nicolaus upped their price target on shares of Meta Platforms from $785.00 to $820.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Robert W. Baird raised their price objective on shares of Meta Platforms from $815.00 to $830.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Finally, Wall Street Zen cut Meta Platforms from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Four equities research analysts have rated the stock with a Strong Buy rating, forty have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $847.40.

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Meta Platforms Company Profile

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Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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