Meta Platforms (NASDAQ:META) COO Javier Olivan Sells 434 Shares

Meta Platforms, Inc. (NASDAQ:METAGet Free Report) COO Javier Olivan sold 434 shares of Meta Platforms stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $602.70, for a total transaction of $261,571.80. Following the completion of the sale, the chief operating officer owned 5,856 shares of the company’s stock, valued at $3,529,411.20. This trade represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • On Monday, August 10th, Javier Olivan sold 1,258 shares of Meta Platforms stock. The shares were sold at an average price of $600.00, for a total transaction of $754,800.00.
  • On Monday, July 27th, Javier Olivan sold 629 shares of Meta Platforms stock. The stock was sold at an average price of $607.85, for a total transaction of $382,337.65.
  • On Monday, July 27th, Javier Olivan sold 837 shares of Meta Platforms stock. The shares were sold at an average price of $607.85, for a total transaction of $508,770.45.
  • On Monday, July 20th, Javier Olivan sold 629 shares of Meta Platforms stock. The stock was sold at an average price of $645.85, for a total value of $406,239.65.
  • On Monday, July 20th, Javier Olivan sold 837 shares of Meta Platforms stock. The stock was sold at an average price of $645.85, for a total value of $540,576.45.
  • On Monday, July 6th, Javier Olivan sold 1,887 shares of Meta Platforms stock. The shares were sold at an average price of $600.62, for a total value of $1,133,369.94.
  • On Monday, July 6th, Javier Olivan sold 3,348 shares of Meta Platforms stock. The stock was sold at an average price of $600.97, for a total value of $2,012,047.56.
  • On Monday, June 15th, Javier Olivan sold 1,258 shares of Meta Platforms stock. The stock was sold at an average price of $600.00, for a total value of $754,800.00.
  • On Monday, June 15th, Javier Olivan sold 140 shares of Meta Platforms stock. The stock was sold at an average price of $600.00, for a total transaction of $84,000.00.
  • On Monday, June 1st, Javier Olivan sold 629 shares of Meta Platforms stock. The stock was sold at an average price of $629.29, for a total transaction of $395,823.41.

Meta Platforms Stock Performance

NASDAQ META traded down $20.27 on Wednesday, hitting $578.85. 16,115,411 shares of the company’s stock traded hands, compared to its average volume of 16,827,484. The firm’s 50-day moving average price is $596.66 and its two-hundred day moving average price is $621.07. The firm has a market capitalization of $1.47 trillion, a PE ratio of 21.80, a P/E/G ratio of 1.02 and a beta of 1.25. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Wednesday, July 29th. The social networking company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $7.19 by ($1.01). The business had revenue of $60.80 billion during the quarter, compared to analyst estimates of $60.22 billion. Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%.The firm’s revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.14 EPS. As a group, analysts expect that Meta Platforms, Inc. will post 28.5 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 15th. Meta Platforms’s payout ratio is 7.91%.

Institutional Trading of Meta Platforms

Institutional investors and hedge funds have recently made changes to their positions in the business. RHL Group LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $28,000. Advantage Trust Co acquired a new stake in Meta Platforms in the 2nd quarter worth about $28,000. Strategic Wealth Advisors LLC purchased a new stake in Meta Platforms during the 4th quarter worth approximately $29,000. Niles Investment Management LLC purchased a new stake in Meta Platforms during the 4th quarter worth approximately $29,000. Finally, Axiom Investment Management LLC acquired a new position in shares of Meta Platforms during the first quarter valued at approximately $36,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on META. Wolfe Research reiterated an “outperform” rating and set a $700.00 price target on shares of Meta Platforms in a research report on Thursday, July 30th. The Goldman Sachs Group dropped their price objective on shares of Meta Platforms from $815.00 to $725.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Scotiabank reaffirmed a “sector perform” rating and set a $600.00 target price on shares of Meta Platforms in a report on Thursday, July 30th. BNP Paribas Exane started coverage on shares of Meta Platforms in a research note on Tuesday, June 2nd. They issued an “outperform” rating for the company. Finally, Cantor Fitzgerald lowered their price target on shares of Meta Platforms from $770.00 to $680.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $785.32.

Read Our Latest Report on META

Key Stories Impacting Meta Platforms

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About Meta Platforms

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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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Insider Buying and Selling by Quarter for Meta Platforms (NASDAQ:META)

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