Mark Zuckerberg, the Chairman and CEO of Meta Platforms, Inc. (NASDAQ:META), recently sold a significant portion of his Class A Common Stock holdings. According to a filing with the Securities and Exchange Commission, Zuckerberg disposed of shares totaling approximately $7.97 million. The transactions, executed on December 9, 2024, involved the sale of shares at prices ranging from $606.93 to $625.64 per share. The sale comes as Meta's stock trades near its 52-week high of $638.40, having delivered an impressive 89.87% return over the past year. InvestingPro analysis indicates the stock is currently fairly valued, with a GREAT financial health score.
These sales were conducted through the Chan Zuckerberg Initiative Foundation, under a pre-established Rule 10b5-1 trading plan. Despite the sale, Zuckerberg maintains substantial holdings in Meta Platforms through various entities, including CZI Holdings, LLC and other trusts and LLCs associated with the Chan Zuckerberg Initiative. With an impressive gross profit margin of 81.5% and strong market position, Meta continues to demonstrate robust financial performance. Track insider transactions and access 14+ additional ProTips with InvestingPro's comprehensive research reports.
In other recent news, Piper Sandler's PSC 2025 Ad Buyer Survey reveals increased economic confidence and growth expectations in the digital advertising industry. The survey suggests a growth acceleration in both digital and total ad spend for 2025, with Alphabet (NASDAQ:GOOGL) Inc's Google and its AI products identified as potential growth drivers. Meanwhile, Meta Platforms Inc (NASDAQ:META). maintains a robust financial health score, with strong cash flows and a market capitalization of $1.55 trillion.
Piper Sandler has also raised the target for Meta shares, acknowledging the company's impressive earnings results for 2024 and advancements in artificial intelligence. Truist Securities maintains a Buy rating on Amazon (NASDAQ:AMZN) shares, forecasting 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 the fourth quarter of 2024.
In legal developments, a U.S. appeals court upheld legislation mandating ByteDance to sell TikTok, potentially impacting Meta's competitors. Meta Platforms also announced a $0.50 quarterly dividend, continuing its practice of returning value to shareholders, and plans to construct a fiber-optic subsea cable encircling the globe. These recent developments highlight the dynamic nature of the tech sector and the robust demand for tech solutions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.