S&P 500 falls on pressure from retail stocks, weak jobless claims
Meta Platforms (NASDAQ:META) Chief Technology Officer Andrew Bosworth sold 16,751 shares of Class A Common Stock on August 15th and 18th, at prices ranging from $775.00 to $782.13, totaling approximately $12.9 million. The sales occurred as Meta’s stock trades near its 52-week high of $796.25, with the company’s market capitalization reaching $1.89 trillion. According to InvestingPro analysis, META is currently trading above its Fair Value.
According to a Form 4 filing with the Securities and Exchange Commission, the sales included 5,057 shares sold on August 15 for $782.13 apiece, amounting to $3.9 million. On August 18, Bosworth sold 11,694 shares at $775.00 per share, for a total value of $9 million.
On the same day, Bosworth also exercised options to acquire a total of 13,192 shares of Class A Common Stock.
In other recent news, Meta Platforms is undergoing a significant restructuring of its artificial intelligence division, splitting the Meta Superintelligence Labs into four separate groups. This marks the fourth restructuring of its AI efforts in just six months. The reorganization will focus on AI research, superintelligence development, products, and infrastructure, including data centers and hardware. Bank of America Securities has maintained its Buy rating and $900 price target on Meta, despite these restructuring plans. Additionally, Meta has introduced DINOv3, a new self-supervised vision AI model that excels in diverse visual tasks without needing labeled data. This model was trained on 1.7 billion images and scaled to 7 billion parameters, making it significantly larger than its predecessor. Meanwhile, OpenAI employees are set to sell approximately $6 billion in shares, valuing the company at $500 billion. The investor group involved in this transaction includes Thrive Capital, SoftBank (TYO:9984) Group Corp., and Dragoneer Investment Group.
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