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Christopher Cox, Chief Product Officer of Meta Platforms, Inc. (NASDAQ:META), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Cox sold shares of Meta’s Class A Common Stock totaling approximately $13.55 million. The transactions occurred on February 27, 2025, with shares sold at prices ranging from $663.33 to $688.21 per share. According to InvestingPro data, Meta’s stock has shown impressive momentum with a 28% gain over the past six months, and the company currently maintains a market capitalization of $1.66 trillion.
These sales were conducted under a pre-established trading plan, as noted in the filing. Following these transactions, the Christopher K. Cox Revocable Trust, which held the shares, retains ownership of 308,686 shares of Meta Platforms. InvestingPro analysis indicates Meta is currently trading near its Fair Value, while maintaining impressive gross profit margins of 82%.
The sales were part of a series of transactions that saw Cox divest shares in various tranches, with the largest single sale involving 2,455 shares at an average price of $684.95. Despite the sales, Cox continues to hold a substantial number of shares in the company, indicating continued investment in Meta Platforms. InvestingPro subscribers can access over a dozen additional key insights about Meta’s financial health, which currently rates as "GREAT" based on comprehensive analysis of multiple financial metrics.
In other recent news, Meta Platforms is preparing to launch a standalone artificial intelligence application in the second quarter, marking a significant step in its AI strategy. The company also plans to introduce a paid subscription service for Meta AI, taking cues from OpenAI’s business model. Additionally, Meta is reportedly in talks with Apollo Global Management (NYSE:APO) for a $35 billion financing package to develop data centers across the United States, although these discussions are still in preliminary stages. In response to a recent technical issue, Meta announced it has resolved a glitch that caused Instagram Reels feeds to display inappropriate content, addressing user complaints worldwide.
Furthermore, Meta’s CEO Mark Zuckerberg has hinted at substantial investments in AI infrastructure, with plans to spend "hundreds of billions of dollars" over the long term. This includes potential plans for a massive data center campus dedicated to AI projects, which could cost over $200 billion. The company is considering locations such as Louisiana, Wyoming, or Texas for this development. Lastly, Italian Prime Minister Giorgia Meloni met with Meta’s Chief Global Affairs Officer to discuss potential new investments in Italy, focusing on artificial intelligence and technological collaboration.
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