Mark Zuckerberg, Chairman and CEO of Meta Platforms Inc. (NASDAQ:META), recently executed a series of stock transactions involving the company's Class A common stock. The transactions, filed with the Securities and Exchange Commission, reveal that Zuckerberg sold shares totaling approximately $13.95 million. These sales come as META trades near its 52-week high of $617.78, with the stock delivering an impressive 92% return over the past year. According to InvestingPro analysis, META maintains strong market momentum with a market capitalization of $1.55 trillion.
The sales were conducted through CZI Holdings, LLC, a vehicle through which Zuckerberg holds shares. These sales occurred at prices ranging from $600.06 to $614.02 per share. The transactions were part of a pre-established trading plan under Rule 10b5-1, adopted by Zuckerberg on August 9, 2024.
In addition to these sales, further transactions were executed by the Chan Zuckerberg Initiative Foundation, amounting to approximately $7.89 million, with prices ranging from $600.17 to $613.86 per share. These sales were also part of a Rule 10b5-1 trading plan.
Overall, the transactions reflect significant activity in Zuckerberg's holdings in Meta Platforms, with a considerable number of shares being sold through structured trading plans.
In other recent news, Meta Platforms Inc. has announced a robust 19% year-over-year increase in total revenue to $40.6 billion for the third quarter of 2024. The company also revealed plans to construct a $10 billion global subsea cable to enhance its internet infrastructure. This undertaking is expected to offer reliable connections for Meta's platforms' substantial traffic. Analyst firm Raymond (NS:RYMD) James maintained a Strong Buy rating on Meta shares, highlighting the company's potential for growth in artificial intelligence (AI) by 2025. In contrast, the U.S. Supreme Court declined to rule on a securities fraud lawsuit against Meta, leaving the matter to the lower appellate court. These are among the recent developments involving Meta Platforms Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.