Insider Selling: Meta Platforms, Inc. (NASDAQ:META) CTO Sells $2,918,698.12 in Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $2,918,698.12. Following the completion of the sale, the chief technology officer now owns 8,565 shares of the company's stock, valued at approximately $4,943,375.40. This trade represents a 37.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, November 18th, Andrew Bosworth sold 14,746 shares of Meta Platforms stock. The shares were sold at an average price of $553.53, for a total transaction of $8,162,353.38.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded up $6.69 on Tuesday, reaching $561.09. 9,155,606 shares of the stock were exchanged, compared to its average volume of 15,035,363. The firm's 50 day moving average is $569.10 and its 200-day moving average is $521.96. The firm has a market cap of $1.42 trillion, a PE ratio of 26.09, a P/E/G ratio of 1.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. Meta Platforms's dividend payout ratio (DPR) is presently 9.42%.

Institutional Investors Weigh In On Meta Platforms

Institutional investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Meta Platforms by 48.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company's stock valued at $23,886,000 after purchasing an additional 16,138 shares in the last quarter. Empowered Funds LLC lifted its stake in Meta Platforms by 22.4% in the first quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company's stock worth $32,629,000 after purchasing an additional 12,301 shares during the last quarter. Cypress Asset Management Inc. TX increased its stake in shares of Meta Platforms by 541.8% during the first quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company's stock valued at $1,862,000 after purchasing an additional 3,224 shares in the last quarter. Northern Capital Management Inc. boosted its holdings in shares of Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company's stock valued at $314,000 after acquiring an additional 21 shares during the last quarter. Finally, Catalytic Wealth RIA LLC lifted its stake in shares of Meta Platforms by 24.3% in the 1st quarter. Catalytic Wealth RIA LLC now owns 7,131 shares of the social networking company's stock worth $3,463,000 after purchasing an additional 1,396 shares during the period. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

META has been the topic of a number of recent analyst reports. Scotiabank cut their price target on shares of Meta Platforms from $585.00 to $583.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 31st. TD Cowen raised their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on Meta Platforms from $640.00 to $660.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Rosenblatt Securities restated a "buy" rating and issued a $811.00 price objective on shares of Meta Platforms in a research note on Thursday, October 31st. Finally, JMP Securities upped their target price on Meta Platforms from $635.00 to $660.00 and gave the company a "market outperform" rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $634.10.

About Meta Platforms

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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