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

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $560.00, for a total value of $231,280.00. Following the completion of the sale, the chief operating officer now owns 12,772 shares of the company’s stock, valued at $7,152,320. The sale was disclosed in a legal 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 13th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $520.57, for a total transaction of $214,995.41.
• 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 value of $215,586.00.
• On Friday, August 30th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was 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 transaction 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 stock was 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 shares were sold at an average price of $530.81, for a total transaction 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 value of $210,944.00.

Meta Platforms Stock Performance

NASDAQ:META opened at $568.31 on Thursday. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $576.88. The firm has a market capitalization of $1.44 trillion, a PE ratio of 32.64, a P/E/G ratio of 1.39 and a beta of 1.21. The stock has a 50-day simple moving average of $512.54 and a two-hundred day simple moving average of $498.54. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.23 earnings per share. Analysts forecast 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. Investors of record on Monday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Monday, September 16th. Meta Platforms’s payout ratio is presently 11.49%.

Institutional Investors Weigh In On Meta Platforms

Several large investors have recently bought and sold shares of the business. Baird Financial Group Inc. boosted its stake in shares of Meta Platforms by 24.2% during the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after purchasing an additional 163,067 shares during the period. California State Teachers Retirement System boosted its holdings in Meta Platforms by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after acquiring an additional 51,900 shares in the last quarter. Voyager Global Management LP grew its position in Meta Platforms by 37.3% during the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after purchasing an additional 140,000 shares during the last quarter. Gradient Investments LLC raised its stake in Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after acquiring an additional 5,953 shares during the last quarter. Finally, Baillie Gifford & Co. raised its stake in shares of Meta Platforms by 14.0% in the first quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock worth $2,962,767,000 after purchasing an additional 748,076 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of a number of recent analyst reports. Rosenblatt Securities boosted their price target on shares of Meta Platforms from $562.00 to $643.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. TD Cowen boosted their price target on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Stifel Nicolaus raised their target price on shares of Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Roth Mkm upped their price target on Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, KeyCorp raised their target price on shares of Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $578.92.

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.