Meta platforms’ chief legal officer sells $635,527 in stock

Jennifer Newstead, Chief Legal Officer of Meta Platforms, Inc. (NASDAQ:META), recently sold a portion of her holdings in the company. The stock has shown remarkable strength, gaining over 57% in the past year and currently trading near its 52-week high of $718.90. According to InvestingPro analysis, Meta maintains a "GREAT" financial health score of 3.37 out of 5. According to a Form 4 filed with the Securities and Exchange Commission, Newstead sold 905 shares of Meta’s Class A common stock on February 4, 2025. The shares were sold at a price of $702.24 each, resulting in a total transaction value of approximately $635,527.

Following this transaction, Newstead retains ownership of 28,390 shares in the company. The sale was conducted under a Rule 10b5-1 trading plan, which was adopted by Newstead on November 30, 2023.

In other recent news, the sale of TikTok, owned by ByteDance, is on hold pending approval from the Chinese government, a development that has emerged amid heightened U.S.-China tensions. Meanwhile, Meta Platforms, under the new head of global affairs, Joel Kaplan, has expressed resistance to the European Union’s AI Code of Practice, potentially complicating the company’s relationship with European regulators.

On the other hand, Meta’s Chief Technology Officer, Andrew Bosworth, has identified 2025 as a pivotal year for the success of the company’s ventures into the metaverse, with plans to launch six AI-powered wearable devices. The company is also considering moving its incorporation from Delaware to Texas, although the corporate headquarters will remain in California.

In the financial realm, UBS analyst Stephen Ju raised the stock price target for Meta Platforms to $786, based on the expectation that Meta will outperform revenue and earnings estimates for 2025. This optimism stems from Meta’s recent guidance and budget announcements, which included a projected capital expenditure budget of $60-65 billion for 2025 and plans to hire more technical staff.

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