Jennifer Newstead, the Chief Legal Officer of Meta Platforms, Inc. (NASDAQ:META), recently sold shares of the company. According to a filing with the Securities and Exchange Commission, Newstead sold 905 shares of Meta's Class A Common Stock on December 10, 2024. The shares were sold at a price of $618 each, totaling $559,290. The transaction comes as Meta's stock trades near its 52-week high of $638.40, having delivered an impressive 89% return over the past year.
After this transaction, Newstead retains ownership of 35,630 shares in the company. The sale was conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for selling stocks to avoid potential conflicts of interest. According to InvestingPro analysis, Meta maintains a GREAT financial health score and currently appears to be trading above its Fair Value. For deeper insights into Meta's valuation and 14 additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Meta, the parent company of Facebook, has made a significant move with a $1 million donation to President-elect Donald Trump's inaugural fund, following a meeting between CEO Mark Zuckerberg and Trump. This development demonstrates a shift in Meta's stance towards Trump, indicating Zuckerberg's intent to influence the new administration's technology policies.
Chinese Instagram rival, Xiaohongshu Technology, is on track to double its profits to surpass $1 billion in 2024, paving the way for a potential initial public offering (IPO). This projected milestone signals a strategic shift for the company towards profitability over user growth, despite a slowdown in user growth since the pandemic's peak.
Piper Sandler, in its recent PSC 2025 Ad Buyer Survey, has raised its digital ad growth forecast for 2025. The survey results were particularly favorable for Alphabet (NASDAQ:GOOGL) Inc's Google, with its AI products identified as having strong potential to drive incremental spend in 2025. The outlook for Meta Platforms Inc (NASDAQ:META) was more mixed, though the company's financial health score remains "GREAT," with strong cash flows and a market capitalization of $1.55 trillion.
European regulators are probing a discontinued advertising collaboration between Google and Meta Platforms, intended to target teenagers aged 13 to 17 on YouTube for the promotion of Instagram. Although the project has been terminated, the European Commission continues to investigate the details of this partnership.
Finally, Piper Sandler has raised the target for Meta shares, recognizing the company's impressive earnings results for 2024 and advancements in artificial intelligence. The firm also acknowledged the challenging year-over-year comparison for Meta in the first half of 2025, leading to a slight adjustment in estimates.
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