Mark Zuckerberg, the Chief Executive Officer and Chairman of Meta Platforms Inc. (NASDAQ:META), reported the sale of Meta stock valued at approximately $13.6 million, according to a recent SEC filing. These transactions, executed on December 18, 2024, involved the sale of Class A Common Stock at prices ranging from $600.819 to $626.5479 per share. The sales come as Meta trades near its 52-week high of $638.40, with the stock delivering an impressive 75.67% return year-to-date. According to InvestingPro analysis, Meta currently trades close to its Fair Value.
The sales were conducted by CZI Holdings, LLC, an entity through which Zuckerberg holds shares. This move comes as part of a trading plan adopted on August 9, 2024, under Rule 10b5-1, which allows insiders to set up a predetermined plan to sell stocks at a later date. Meta maintains strong financial health with a "GREAT" overall score on InvestingPro, which offers 14 additional valuable insights about the company's performance and prospects.
In addition to these sales, Zuckerberg also converted Class B Common Stock into Class A Common Stock, increasing his Class A shares by 22,035. However, this conversion did not involve any financial transaction as the shares were exchanged on a 1-for-1 basis.
Zuckerberg's recent stock activities reflect his ongoing management of his holdings in Meta Platforms, ensuring compliance with regulatory standards while maintaining strategic control over his investments.
In other recent news, Meta Platforms Inc. has been at the center of several significant developments. The company's Instagram platform is projected to account for half of Meta's U.S. advertising revenue by 2025, according to Emarketer's estimates. This projection is backed by Instagram's impressive contribution to Meta's global business, which reached nearly 30% by early 2022.
In legal news, Meta's Irish subsidiary has been hit with a $264 million fine due to a data breach affecting 29 million users globally. The breach was reported in 2018 and compromised data such as full names, email addresses, and phone numbers. The Irish data protection commission found that Meta violated General Data Protection Regulation rules.
Meanwhile, Truist Securities has upgraded its price target for Meta to $700, maintaining a 'Buy' rating. This decision is backed by Meta's robust revenue growth and gross profit margin. Truist Securities has identified Meta as one of its top picks for 2025, citing the company's continuous innovation and industry outperformance.
Lastly, Snap Inc (NYSE:SNAP). experienced a notable stock decline following the U.S. Supreme Court's decision to hear a bid by TikTok to block a law that could force its sale on national security grounds. While Snap's stock has succumbed to the pressure, Meta's shares have displayed resilience amid the news.
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