Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan Sells 608 Shares

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 608 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $631.25, for a total transaction of $383,800.00. Following the sale, the chief operating officer now owns 2,582 shares of the company’s stock, valued at $1,629,887.50. This trade represents a 19.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, May 5th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $592.00, for a total transaction of $359,936.00.
• On Monday, April 28th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $555.54, for a total transaction of $337,768.32.
• On Monday, April 21st, Javier Olivan sold 406 shares of Meta Platforms stock. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14.
• On Monday, April 14th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $556.45, for a total transaction of $338,321.60.
• On Monday, April 7th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44.
• On Monday, March 31st, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $563.03, for a total transaction of $342,322.24.
• On Monday, March 24th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $614.97, for a total transaction of $373,901.76.
• On Monday, March 17th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $607.50, for a total transaction of $369,360.00.
• On Monday, March 10th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $609.00, for a total transaction of $370,272.00.
• On Monday, March 3rd, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $673.96, for a total transaction of $409,767.68.

Meta Platforms Trading Down 2.3%

NASDAQ:META opened at $643.88 on Friday. The company has a fifty day moving average of $570.68 and a 200 day moving average of $606.39. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.63 trillion, a P/E ratio of 26.92, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last posted its quarterly 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. 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 prior year, the business posted $4.71 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Loop Capital cut their target price on shares of Meta Platforms from $900.00 to $695.00 and set a “buy” rating for the company in a research report on Monday, April 28th. TD Securities cut their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Benchmark cut their price objective on shares of Meta Platforms from $820.00 to $640.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Pivotal Research cut their price objective on shares of Meta Platforms from $875.00 to $830.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, Susquehanna cut their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $696.45.

Institutional Investors Weigh In On Meta Platforms

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in META. Regent Peak Wealth Advisors LLC raised its holdings in Meta Platforms by 5.8% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company’s stock valued at $2,939,000 after buying an additional 277 shares during the last quarter. RMR Wealth Builders increased its position in Meta Platforms by 4.9% during the 4th quarter. RMR Wealth Builders now owns 11,830 shares of the social networking company’s stock valued at $6,927,000 after purchasing an additional 556 shares during the period. Matrix Trust Co purchased a new position in Meta Platforms during the 4th quarter valued at $166,000. EWG Elevate Inc. increased its position in Meta Platforms by 8.0% during the 4th quarter. EWG Elevate Inc. now owns 390 shares of the social networking company’s stock valued at $228,000 after purchasing an additional 29 shares during the period. Finally, Fjell Capital LLC purchased a new position in Meta Platforms during the 4th quarter valued at $1,836,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Company Profile

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.