Following this sale, Olivan directly owns 19,166 shares of Meta stock. Additionally, he holds indirect ownership stakes through several entities, including Olivan D LLC, Olivan Reinhold D LLC, and the Olivan Reinhold Family Revocable Trust. These holdings collectively account for a significant number of shares, demonstrating Olivan's continued investment in the company, which now boasts a market capitalization of $1.55 trillion and maintains a "GREAT" financial health rating according to InvestingPro, which offers comprehensive analysis and 17 additional valuable insights about Meta's performance and valuation.
Following this sale, Olivan directly owns 19,166 shares of Meta stock. Additionally, he holds indirect ownership stakes through several entities, including Olivan D LLC, Olivan Reinhold D LLC, and the Olivan Reinhold Family Revocable Trust. These holdings collectively account for a significant number of shares, demonstrating Olivan's continued investment in the company, which now boasts a market capitalization of $1.55 trillion and maintains a "GREAT" financial health rating according to InvestingPro, which offers comprehensive analysis and 17 additional valuable insights about Meta's performance and valuation.
In other recent news, Meta Platforms Inc (NASDAQ:META). has announced plans for a $10 billion global subsea cable to manage internet traffic from its platforms. This significant investment will help the company gain greater control over its internet infrastructure. Alongside this, Meta reported robust growth in its Q3 2024 earnings, with a 19% increase in total revenue year-over-year to $40.6 billion.
Raymond (NS:RYMD) James retained its Strong Buy rating on Meta, citing potential growth in AI. The firm also highlighted Meta's potential for generative AI monetization by 2025. Meanwhile, Monness Crespi Hardt raised its price target for Meta, noting stronger market sentiment compared to Alphabet (NASDAQ:GOOGL).
The U.S. Supreme Court declined to make a ruling on a securities fraud lawsuit against Meta, leaving the decision to the lower court. These recent developments reflect the dynamic landscape of the technology sector for Meta Platforms Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.