Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan Sells 517 Shares

by · The Cerbat Gem

Meta Platforms, Inc. (NASDAQ:META – Get Free Report) COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $628.25, for a total value of $324,805.25. Following the completion of the sale, the chief operating officer now owns 10,955 shares of the company’s stock, valued at approximately $6,882,478.75. The trade was a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Thursday, May 15th, Javier Olivan sold 2,615 shares of Meta Platforms stock. The shares were sold at an average price of $659.36, for a total transaction of $1,724,226.40.
  • On Monday, May 12th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $631.25, for a total transaction of $383,800.00.
  • 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 shares were 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 shares were 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 shares were sold at an average price of $556.45, for a total value 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 value of $296,813.44.
  • On Monday, March 31st, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $563.03, for a total value 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 value 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 value of $369,360.00.

Meta Platforms Price Performance

NASDAQ:META opened at $635.50 on Thursday. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The company has a market cap of $1.60 trillion, a P/E ratio of 26.57, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock’s 50-day simple moving average is $573.28 and its 200 day simple moving average is $608.00.

Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period last year, the company earned $4.71 earnings per share. The business’s revenue was up 16.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Meta Platforms

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Meta Platforms during the 4th quarter worth about $19,949,512,000. GAMMA Investing LLC grew its holdings in Meta Platforms by 67,172.9% during the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock worth $13,517,178,000 after purchasing an additional 23,417,803 shares during the period. Proficio Capital Partners LLC grew its holdings in Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock worth $3,658,713,000 after purchasing an additional 6,240,810 shares during the period. Nuveen LLC acquired a new position in Meta Platforms during the first quarter worth approximately $2,990,544,000. Finally, Raymond James Financial Inc. bought a new stake in Meta Platforms in the fourth quarter valued at approximately $2,243,603,000. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Mizuho lifted their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company cut their target price on shares of Meta Platforms from $752.00 to $664.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. JMP Securities reissued a “market outperform” rating and issued a $750.00 price target on shares of Meta Platforms in a report on Wednesday, April 30th. JPMorgan Chase & Co. upped their price objective on shares of Meta Platforms from $610.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald lifted their target price on Meta Platforms from $624.00 to $676.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $701.05.

Read Our Latest Research Report on META

About Meta Platforms

(Get Free Report)

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.

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