Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan Sells 490 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 490 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $445.93, for a total value of $218,505.70. Following the completion of the transaction, the chief operating officer now directly owns 6,109 shares of the company’s stock, valued at approximately $2,724,186.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, April 26th, Javier Olivan sold 490 shares of Meta Platforms stock. The stock was sold at an average price of $441.54, for a total value of $216,354.60.
• On Friday, April 19th, Javier Olivan sold 490 shares of Meta Platforms stock. The stock was sold at an average price of $501.18, for a total transaction of $245,578.20.
• On Friday, April 12th, Javier Olivan sold 490 shares of Meta Platforms stock. The shares were sold at an average price of $517.75, for a total transaction of $253,697.50.
• On Friday, April 5th, Javier Olivan sold 490 shares of Meta Platforms stock. The shares were sold at an average price of $516.51, for a total value of $253,089.90.
• On Monday, April 1st, Javier Olivan sold 490 shares of Meta Platforms stock. The shares were sold at an average price of $486.75, for a total transaction of $238,507.50.
• On Friday, March 22nd, Javier Olivan sold 490 shares of Meta Platforms stock. The shares were sold at an average price of $507.00, for a total value of $248,430.00.
• On Friday, March 15th, Javier Olivan sold 490 shares of Meta Platforms stock. The stock was sold at an average price of $488.25, for a total value of $239,242.50.
• On Friday, March 8th, Javier Olivan sold 490 shares of Meta Platforms stock. The shares were sold at an average price of $513.32, for a total value of $251,526.80.
• On Friday, March 1st, Javier Olivan sold 490 shares of Meta Platforms stock. The shares were sold at an average price of $492.13, for a total transaction of $241,143.70.
• On Friday, February 23rd, Javier Olivan sold 490 shares of Meta Platforms stock. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70.

Meta Platforms Trading Up 0.5 %

META stock opened at $468.24 on Wednesday. Meta Platforms, Inc. has a 52 week low of $230.27 and a 52 week high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The company’s 50-day simple moving average is $490.40 and its 200 day simple moving average is $410.65. The company has a market capitalization of $1.19 trillion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 1.18 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.1 earnings per share for the current year.

Hedge Funds Weigh In On Meta Platforms

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. grew its position in Meta Platforms by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after acquiring an additional 32,423 shares during the last quarter. Bank of Stockton lifted its stake in Meta Platforms by 9.2% in the 4th quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock valued at $1,819,000 after purchasing an additional 400 shares during the last quarter. Signify Wealth acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $228,000. Illinois Municipal Retirement Fund grew its stake in shares of Meta Platforms by 1.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 223,788 shares of the social networking company’s stock worth $79,212,000 after buying an additional 4,025 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. increased its holdings in shares of Meta Platforms by 1.5% during the fourth quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock worth $3,880,000 after buying an additional 164 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

META has been the topic of several analyst reports. Canaccord Genuity Group lowered their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, April 25th. Citigroup cut their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Truist Financial lowered their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Oppenheimer reduced their price target on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $509.80.

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.