Meta Platforms COO Javier Olivan Sells Shares Worth $2.6 Million

On January 29th, 2024, Chief Operating Officer (COO) Javier Olivan of Meta Platforms, Inc. (NASDAQ:META) completed the sale of 6,500 shares of the company's stock. Priced at $400 per share, the total value of the transaction amounted to $2,600,000. Post-sale, Olivan retains 68,935 Meta shares, with an estimated market value of $27,574,000. This executive transaction was officially filed with the Securities and Exchange Commission (SEC) and details can be checked through a specific SEC link.

Recent Trades by COO Javier Olivan

Shortly before this considerable sale, Javier Olivan made a few other transactions: on January 24th, he sold 4,500 shares at $395 each; on January 22nd, 9,000 shares at $388.90 each; back on November 29th, 6,077 shares at $339.77 each; and on November 15th, a sale of 7,634 shares occurred at $336.31 each.

Meta Platforms' Stock Performance

META's stock opened at $474.99 on the reporting Friday. Over the past year, its value ranged from a low of $167.66 to a high of $485.96. Financial indicators like a 0.13 debt-to-equity ratio and a P/E ratio of 41.92 are noteworthy. The market capitalization is reported at $1.22 trillion. The 50-day and 200-day simple moving averages are $358.32 and $325.99, respectively.

The quarterly earnings, reported on February 1st, revealed earnings per share (EPS) of $5.33, outdoing the expected $4.82. A 24.7% year-over-year revenue rise to $40.11 billion was also reported.

Dividend and Analyst Outlook

A dividend of $0.50 per share is to be disbursed on March 26th to shareholders on record as of February 22nd, translating to an annual $2.00 per share. The yield stands at 0.42%. Analysts have updated their price targets, with UBS Group and The Goldman Sachs Group presenting optimistic outlooks. Generally, Meta Platforms is rated favorably among analysts, who set an average price target of $483.44.

Institutional Investors and Hedge Fund Activity

In recent investment activities, institutional investors and hedge funds have adjusted their holdings in Meta Platforms. Stone House Investment Management, Cranbrook Wealth Management, and Stephens Investment Management are among firms edging their positions in the company.

About Meta Platforms

Meta Platforms has continued to innovate and grow its impressive array of communication and social networking tools, which include Facebook, Instagram, Messenger, and WhatsApp, servicing a vast global user base.

Meta, Stock, COO