Insider Selling: Meta Platforms (NASDAQ:META) CTO Sells $4,769,642.01 in Stock

Meta Platforms, Inc. (NASDAQ:METAGet Free Report) CTO Andrew Bosworth sold 7,847 shares of Meta Platforms stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the transaction, the chief technology officer owned 414 shares of the company’s stock, valued at $251,641.62. The trade was a 94.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Andrew Bosworth also recently made the following trade(s):

  • On Wednesday, February 18th, Andrew Bosworth sold 8,089 shares of Meta Platforms stock. The shares were sold at an average price of $631.24, for a total value of $5,106,100.36.

Meta Platforms Stock Performance

NASDAQ META opened at $607.38 on Friday. The stock has a 50-day simple moving average of $618.57 and a two-hundred day simple moving average of $637.18. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 22.08, a PEG ratio of 1.07 and a beta of 1.25. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, beating analysts’ consensus estimates of $6.67 by $3.77. The business had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The company’s revenue was up 33.1% on a year-over-year basis. During the same quarter last year, the business posted $6.43 EPS. On average, equities analysts forecast that Meta Platforms, Inc. will post 29.49 earnings per share for the current year.

Meta Platforms News Roundup

Here are the key news stories impacting Meta Platforms this week:

Institutional Investors Weigh In On Meta Platforms

Institutional investors have recently modified their holdings of the business. Westchester Capital Management Inc. acquired a new stake in Meta Platforms in the 3rd quarter worth about $26,000. RHL Group LLC acquired a new stake in Meta Platforms in the 4th quarter worth about $28,000. Strategic Wealth Advisors LLC acquired a new stake in Meta Platforms in the 4th quarter worth about $29,000. Niles Investment Management LLC acquired a new stake in Meta Platforms in the 4th quarter worth about $29,000. Finally, Bayban boosted its holdings in Meta Platforms by 100.0% in the 1st quarter. Bayban now owns 70 shares of the social networking company’s stock worth $40,000 after buying an additional 35 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

META has been the subject of a number of recent research reports. DA Davidson lifted their price objective on Meta Platforms from $825.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Rothschild & Co Redburn set a $900.00 target price on Meta Platforms in a research report on Monday, January 26th. Sanford C. Bernstein dropped their target price on Meta Platforms from $900.00 to $850.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. Robert W. Baird raised their target price on Meta Platforms from $815.00 to $830.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Finally, Truist Financial dropped their target price on Meta Platforms from $900.00 to $840.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $840.19.

View Our Latest Stock Report on META

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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