Zuckerberg's transactions also included a conversion of Class B common stock into Class A common stock, although this particular transaction did not involve any financial exchange. Following these transactions, Zuckerberg maintains significant holdings across various entities, including CZI Holdings and the Chan Zuckerberg Initiative Foundation. For detailed insights into Meta's valuation and 16+ additional ProTips, visit InvestingPro. For detailed insights into Meta's valuation and 16+ additional ProTips, visit InvestingPro.
Additionally, the Chan Zuckerberg Initiative Foundation sold shares worth approximately $7.9 million, with transaction prices ranging from $606.53 to $616.85 per share. These sales were made under a pre-established trading plan adopted by Zuckerberg in August 2024. According to InvestingPro data, Meta maintains a GREAT financial health score, reflecting its strong market position.
Zuckerberg's transactions also included a conversion of Class B common stock into Class A common stock, although this particular transaction did not involve any financial exchange. Following these transactions, Zuckerberg maintains significant holdings across various entities, including CZI Holdings and the Chan Zuckerberg Initiative Foundation.
In other recent news, Meta Platforms Inc (NASDAQ:META). has announced its plan to construct a fiber-optic subsea cable encircling the globe, an investment expected to surpass $10 billion. The project is still in the planning phase, with more details anticipated in early 2025. Meanwhile, Raymond (NS:RYMD) James has reaffirmed its Strong Buy rating on Meta, citing growth potential in artificial intelligence. The firm's analyst projected an increase in user engagement and a market opportunity exceeding $10 billion by 2026 in certain sectors.
The U.S. Supreme Court has decided not to rule on a securities fraud lawsuit against Meta, leaving the lower court's decision intact. The lawsuit accuses Meta of misleading investors about user data misuse. In another development, Monness Crespi Hardt has raised its price target on Meta to $650 from $620, noting stronger market sentiment for Meta compared to Alphabet (NASDAQ:GOOGL).
Meta Platforms reported a 19% year-over-year increase in total revenue for Q3 2024, reaching $40.6 billion. Daily active users across Meta's apps surpassed 3.2 billion, with WhatsApp calls hitting 2 billion per day. The company's focus on AI and infrastructure investments are expected to drive growth in 2025. These are the recent developments for Meta Platforms.
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