Mark Zuckerberg, the Chairman and CEO of Meta Platforms, Inc. (NASDAQ:META), has sold a significant portion of his holdings in the company. According to a recent filing, Zuckerberg offloaded shares worth approximately $14.1 million. The sales occurred on December 9, 2024, with transaction prices ranging from $606.80 to $625.46 per share. The transaction comes as META trades near its 52-week high of $638.40, having delivered an impressive 79% return year-to-date.
The transactions were executed by CZI Holdings, LLC, a company associated with Zuckerberg, under a pre-established trading plan. The sale involved multiple transactions totaling several thousand shares, reducing Zuckerberg’s direct holdings in the Class A Common Stock of Meta Platforms.
Despite these sales, Zuckerberg continues to maintain substantial ownership in Meta Platforms through various entities, including holdings in Class B Common Stock, which have different voting rights compared to Class A shares. Based on current market conditions, META appears to be trading near its Fair Value according to InvestingPro analysis, which provides comprehensive valuation metrics in its detailed Pro Research Report, available for over 1,400 US stocks.
In other recent news, Meta Platforms Inc (NASDAQ:META). has been in the spotlight due to various developments. Piper Sandler has raised the target for Meta shares, acknowledging the company's impressive earnings results for 2024 and advancements in artificial intelligence. The company also announced a $0.50 quarterly dividend, maintaining its practice of returning value to shareholders. Furthermore, Meta is planning a significant infrastructure project, a fiber-optic subsea cable encircling the globe.
Meanwhile, European regulators are investigating a discontinued advertising collaboration between Google (NASDAQ:GOOGL) and Meta, which was intended to target teenagers. Despite the project's termination, the European Commission continues to probe the details.
Amazon.com Inc (NASDAQ:AMZN). has maintained a Buy rating from Truist Securities, with the firm's analysis suggesting record highs in U.S. e-commerce and digital advertising spending. Amazon is expected to capture approximately 49% of U.S. e-commerce market share, with its U.S. Revenue tracking at or slightly above the current consensus estimate of $114.5 billion for Q4 2024.
Finally, a U.S. appeals court upheld legislation mandating ByteDance to sell TikTok, a ruling that could impact Meta's competitors. These are recent developments that investors may find noteworthy.
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