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

Meta Platforms, Inc. (NASDAQ:META) CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $2,918,698.12. Following the completion of the transaction, the chief technology officer now owns 8,565 shares of the company’s stock, valued at approximately $4,943,375.40. The trade was a 37.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

NASDAQ:META traded up $6.69 on Tuesday, hitting $561.09. The company had a trading volume of 9,155,606 shares, compared to its average volume of 15,035,363. The stock has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 26.09, a PEG ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $569.10 and a two-hundred day moving average of $521.96.

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

Meta Platforms Dividend Announcement

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

Hedge Funds Weigh In On Meta Platforms

Several institutional investors and hedge funds have recently bought and sold shares of META. JDM Financial Group LLC purchased a new position in Meta Platforms during the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms in the third quarter worth about $36,000. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. increased its position in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the period. Finally, Halpern Financial Inc. bought a new stake in shares of Meta Platforms in the 3rd quarter worth approximately $46,000. 79.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on META. Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a report on Thursday, October 31st. Piper Sandler upped their price objective on Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Guggenheim raised their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Tigress Financial lifted their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Finally, BMO Capital Markets lifted their price objective on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a 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 assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

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.