Andrew Bosworth Sells 22,449 Shares of Meta Platforms, Inc. (NASDAQ:META) Stock

Meta Platforms, Inc. (NASDAQ:META) CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the sale, the chief technology officer now directly owns 1,183 shares of the company’s stock, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Thursday, May 15th, Andrew Bosworth sold 5,057 shares of Meta Platforms stock. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $637.10 on Wednesday. The firm has a fifty day simple moving average of $572.72 and a two-hundred day simple moving average of $607.81. The stock has a market capitalization of $1.60 trillion, a P/E ratio of 26.63, a PEG ratio of 1.42 and a beta of 1.24. 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, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share 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 company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the business posted $4.71 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Meta Platforms

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acorns Advisers LLC lifted its holdings in Meta Platforms by 10.9% during the 1st quarter. Acorns Advisers LLC now owns 2,627 shares of the social networking company’s stock valued at $1,514,000 after buying an additional 258 shares in the last quarter. Blue Rock Wealth Management LLC bought a new stake in shares of Meta Platforms in the 1st quarter valued at about $506,000. Fortis Capital Advisors LLC raised its holdings in shares of Meta Platforms by 7.9% in the 1st quarter. Fortis Capital Advisors LLC now owns 10,917 shares of the social networking company’s stock valued at $6,292,000 after purchasing an additional 800 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Meta Platforms by 4.8% in the 1st quarter. Focus Partners Wealth now owns 497,294 shares of the social networking company’s stock valued at $286,353,000 after purchasing an additional 22,586 shares in the last quarter. Finally, Capital Impact Advisors LLC bought a new stake in shares of Meta Platforms in the 1st quarter valued at about $15,646,000. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on META. Royal Bank of Canada reissued an “outperform” rating and set a $740.00 price objective on shares of Meta Platforms in a research note on Thursday, May 1st. KeyCorp raised their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Wells Fargo & Company reduced their price target on shares of Meta Platforms from $752.00 to $664.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. DA Davidson lowered their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Evercore ISI raised their price objective on Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $701.05.

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.