Javier Olivan, the Chief Operating Officer of Meta Platforms, Inc. (NASDAQ:META), recently sold 413 shares of the company’s Class A Common Stock. The transaction, which took place on December 30, 2024, was executed at a price of $589.16 per share, amounting to a total value of $243,323. The sale comes as Meta, now valued at $1.51 trillion, trades near its 52-week high of $638.40, having delivered an impressive 73.71% return over the past year. This sale was conducted under a Rule 10b5-1 trading plan, which Olivan adopted on August 30, 2023.
Following this transaction, Olivan holds 17,514 shares directly. Additionally, he maintains indirect ownership through various entities, including Olivan D LLC, Olivan Reinhold D LLC, and the Olivan Reinhold Family Revocable Trust. These holdings collectively account for a significant portion of his remaining stake in Meta Platforms.
In other recent news, Meta Platforms has seen significant developments. The tech giant appointed Joel Kaplan as its new chief global affairs officer, replacing Nick Clegg. Kaplan’s responsibilities will include handling key issues such as content policy and elections.
In the financial realm, JMP Securities raised Meta’s price target to $750, maintaining a Market Outperform rating. The firm cited advancements in artificial intelligence (AI) and messaging as growth catalysts. RBC Capital also expressed confidence in Meta’s AI strategy, raising its price target to $700. Canaccord Genuity echoed this sentiment, raising Meta’s price target from $700 to $730, recognizing the company’s growth prospects in ad creative generation and business messaging.
Meanwhile, Meta’s Instagram platform is projected to generate half of the company’s advertising revenue in the U.S. by 2025. Despite facing a $264 million fine from the Irish data protection commission over a data breach, analysts from Truist Securities expressed a positive outlook on Meta’s prospects for 2025. These are recent developments, providing insight into the dynamic environment in which Meta operates.
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