Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan Sells 413 Shares

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $577.49, for a total value of $238,503.37. Following the completion of the transaction, the chief operating officer now directly owns 19,166 shares in the company, valued at $11,068,173.34. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, November 25th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $562.77, for a total value of $232,424.01.
• On Monday, November 18th, Javier Olivan sold 620 shares of Meta Platforms stock. The stock was sold at an average price of $557.00, for a total value of $345,340.00.
• On Friday, November 15th, Javier Olivan sold 4,891 shares of Meta Platforms stock. The stock was sold at an average price of $577.16, for a total value of $2,822,889.56.
• On Friday, November 1st, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $567.58, for a total value of $234,410.54.
• On Friday, October 25th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $574.16, for a total value of $237,128.08.
• On Friday, October 18th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $580.65, for a total value of $239,808.45.
• On Friday, October 11th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $584.83, for a total value of $241,534.79.
• On Friday, October 4th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $583.73, for a total value of $241,080.49.
• On Friday, September 27th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $570.00, for a total value of $235,410.00.
• On Friday, September 20th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $560.00, for a total value of $231,280.00.

Meta Platforms Stock Up 0.0 %

Shares of NASDAQ META opened at $613.78 on Thursday. The company has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 28.91, a price-to-earnings-growth ratio of 1.35 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The business has a 50-day moving average of $576.78 and a two-hundred day moving average of $529.92. Meta Platforms, Inc. has a 1 year low of $315.39 and a 1 year high of $617.78.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on META. Susquehanna increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Stifel Nicolaus raised their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Tigress Financial increased their price target on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Finally, BMO Capital Markets increased their price target on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

Hedge Funds Weigh In On Meta Platforms

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boulder Wealth Advisors LLC acquired a new position in Meta Platforms during the 3rd quarter worth approximately $408,000. Oriental Harbor Investment Fund acquired a new stake in shares of Meta Platforms in the 3rd quarter worth approximately $95,734,000. American Trust grew its holdings in shares of Meta Platforms by 112.1% in the 3rd quarter. American Trust now owns 6,930 shares of the social networking company’s stock worth $3,967,000 after acquiring an additional 3,663 shares during the period. Old North State Trust LLC grew its holdings in shares of Meta Platforms by 3.4% in the 3rd quarter. Old North State Trust LLC now owns 1,290 shares of the social networking company’s stock worth $738,000 after acquiring an additional 42 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Meta Platforms by 2.8% in the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock worth $4,101,602,000 after acquiring an additional 186,728 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

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.