Insider Selling: Meta Platforms (NASDAQ:META) CTO Sells 7,847 Shares of Stock

by · The Cerbat Gem

Meta Platforms, Inc. (NASDAQ:META – Get Free Report) CTO Andrew Bosworth sold 7,847 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $607.83, for a total value of $4,769,642.01. Following the transaction, the chief technology officer directly owned 414 shares of the company’s stock, valued at $251,641.62. This trade represents a 94.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through 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 stock was sold at an average price of $631.24, for a total value of $5,106,100.36.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded down $8.60 during trading on Tuesday, reaching $602.61. 11,716,804 shares of the company’s stock were exchanged, compared to its average volume of 15,909,861. 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, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25. The company has a market cap of $1.52 trillion, a P/E ratio of 21.91, a PEG ratio of 1.07 and a beta of 1.25. The firm’s 50-day moving average price is $620.35 and its 200 day moving average price is $637.91.

Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The company had revenue of $56.31 billion during the quarter, compared to analysts’ expectations of $55.56 billion. During the same quarter in the previous year, the firm earned $6.43 EPS. Meta Platforms’s revenue was up 33.1% on a year-over-year basis. As a group, research analysts anticipate that Meta Platforms, Inc. will post 29.65 earnings per share for the current year.

Trending Headlines about Meta Platforms

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Rothschild & Co Redburn set a $900.00 target price on shares of Meta Platforms in a research report on Monday, January 26th. Wedbush lifted their price target on shares of Meta Platforms from $880.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. Robert W. Baird lifted their price target on shares of Meta Platforms from $815.00 to $830.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. Raymond James Financial cut their price target on shares of Meta Platforms from $825.00 to $800.00 and set a “strong-buy” rating on the stock in a report on Monday, January 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Meta Platforms in a report on Thursday, January 29th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $840.31.

Check Out Our Latest Stock Analysis on Meta Platforms

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds have recently bought and sold shares of the company. Westchester Capital Management Inc. bought a new stake in shares of Meta Platforms during the third quarter worth about $26,000. RHL Group LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth about $28,000. Strategic Wealth Advisors LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth about $29,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth about $42,000. Finally, Bayban increased its position in shares of Meta Platforms by 100.0% during the first quarter. Bayban now owns 70 shares of the social networking company’s stock worth $40,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Company Profile

(Get Free Report)

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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