Insider Selling: Meta Platforms, Inc. (NASDAQ:META) COO Sells $190,756.00 in Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $463.00, for a total value of $190,756.00. Following the completion of the transaction, the chief operating officer now owns 5,559 shares in the company, valued at approximately $2,573,817. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, July 18th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were 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 stock was sold at an average price of $530.81, for a total value 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 transaction of $210,944.00.
• On Thursday, June 27th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $514.41, for a total transaction of $211,936.92.
• On Thursday, June 20th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $502.00, for a total transaction of $206,824.00.
• On Thursday, June 13th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $505.75, for a total value of $208,369.00.
• On Thursday, June 6th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $492.98, for a total value of $203,107.76.
• On Thursday, May 30th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $471.67, for a total value of $194,328.04.
• On Thursday, May 23rd, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40.
• On Wednesday, May 15th, Javier Olivan sold 4,911 shares of Meta Platforms stock. The shares were sold at an average price of $471.85, for a total transaction of $2,317,255.35.

Meta Platforms Stock Up 2.5 %

Shares of NASDAQ:META opened at $474.83 on Thursday. The stock has a 50-day simple moving average of $493.25 and a 200-day simple moving average of $477.38. The stock has a market capitalization of $1.20 trillion, a P/E ratio of 27.27, a PEG ratio of 1.20 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

META has been the subject of a number of research reports. JMP Securities reiterated a “market outperform” rating and set a $525.00 price target on shares of Meta Platforms in a research report on Tuesday. Canaccord Genuity Group lowered their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Wedbush reaffirmed an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research note on Wednesday, July 24th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Finally, TD Cowen lifted their target price on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $538.29.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares in the last quarter. Capital World Investors boosted its holdings in Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after acquiring an additional 244,803 shares during the period. Capital International Investors grew its position in Meta Platforms by 3.2% in the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after acquiring an additional 1,083,719 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Finally, Norges Bank acquired a new position in shares of Meta Platforms during the fourth quarter worth $11,285,855,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

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.