Andrew Bosworth Sells 5,057 Shares of Meta Platforms, Inc. (NASDAQ:META) Stock

Meta Platforms, Inc. (NASDAQ:META) CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the sale, the chief technology officer now owns 16,463 shares of the company’s stock, valued at $10,855,043.68. This trade represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, May 16th, Andrew Bosworth sold 22,449 shares of Meta Platforms stock. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65.

Meta Platforms Price Performance

Meta Platforms stock opened at $637.10 on Wednesday. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The firm has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.42 and a beta of 1.24. The company has a fifty day simple moving average of $572.72 and a 200-day simple moving average of $607.81. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the firm posted $4.71 earnings per share. Meta Platforms’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent analyst reports. Roth Capital lifted their target price on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Cantor Fitzgerald upped their price objective on shares of Meta Platforms from $624.00 to $676.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Argus set a $775.00 price objective on shares of Meta Platforms in a report on Tuesday, February 4th. Scotiabank dropped their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a report on Monday, April 21st. Finally, Rosenblatt Securities upped their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $701.05.

Institutional Investors Weigh In On Meta Platforms

A number of hedge funds have recently modified their holdings of the company. Regent Peak Wealth Advisors LLC boosted its stake in Meta Platforms by 5.8% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company’s stock worth $2,939,000 after buying an additional 277 shares during the period. Fjell Capital LLC purchased a new position in Meta Platforms during the fourth quarter worth about $1,836,000. Opulen Financial Group LLC purchased a new position in Meta Platforms during the fourth quarter worth about $325,000. Daner Wealth Management LLC purchased a new position in Meta Platforms during the fourth quarter worth about $334,000. Finally, Eagle Rock Investment Company LLC boosted its stake in Meta Platforms by 5.7% during the fourth quarter. Eagle Rock Investment Company LLC now owns 30,644 shares of the social networking company’s stock worth $17,942,000 after buying an additional 1,648 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

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.