Mark Zuckerberg, the Chairman and CEO of Meta Platforms, Inc. (NASDAQ:META), has recently sold shares of the company amounting to approximately $22 million. The transactions, executed on December 17, 2024, involved the sale of Class A Common Stock through CZI Holdings, LLC, and the Chan Zuckerberg Initiative Foundation. Meta, currently valued at $1.52 trillion, has demonstrated remarkable strength, with its stock trading near its 52-week high of $638.40.
Zuckerberg's transactions through CZI Holdings, LLC, included the sale of 15,446 shares, generating proceeds of about $14.3 million. The shares were sold at prices ranging from $617.69 to $631.26 per share.
Additionally, the Chan Zuckerberg Initiative Foundation sold 11,343 shares, amounting to approximately $8.1 million. These shares were sold at prices ranging from $617.70 to $631.90 per share.
These sales are part of a pre-established trading plan under Rule 10b5-1, which allows company insiders to sell a predetermined number of shares at a predetermined time. Following these transactions, Zuckerberg continues to hold a significant stake in Meta Platforms, Inc. According to InvestingPro, Meta maintains a "GREAT" overall financial health score, with 14 additional key insights available to subscribers.
In other recent news, Snap Inc (NYSE:SNAP). faces pressure following the U.S. Supreme Court's decision to hear a bid by TikTok and its parent company ByteDance to block a law that could force the sale of TikTok or potentially ban it. This development adds a layer of complexity to the social media industry, affecting companies like Snap and Meta Platforms Inc (NASDAQ:META). Meanwhile, Meta's Instagram is projected to constitute half of the firm's advertising revenue in the United States by 2025, according to Emarketer's estimates. This highlights Instagram's growing significance as a revenue generator for Meta.
Furthermore, Meta's Irish subsidiary was recently fined $264 million by the Irish data protection commission following a data breach that affected 29 million users globally. The breach was promptly addressed by Meta Platforms Ireland Limited and its US parent company. In a separate development, Truist Securities has expressed a positive stance on the Internet and Digital Media Group's prospects for 2025, with Meta listed among its top picks. These recent developments underscore the dynamic nature of the social media industry.
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