Meta Platforms, Inc. (NASDAQ: ) recently experienced a significant stock transaction by its Chief Legal Officer, Jennifer Newstead. According to a Form 4 filing with the Securities and Exchange Commission, Newstead sold 905 shares of Meta’s Class A Common Stock on January 7, 2025. The shares were sold at $631.55 each, for a total sale value of $571,552. The transaction comes as Meta trades near its 52-week high of $638.40, with InvestingPro data showing that the company maintains an “EXCELLENT” financial health rating.
Following this transaction, Newstead retains ownership of 32,010 shares of the company. The sale was made under a Rule 10b5-1 trading plan, which was adopted on November 30, 2023, as stated in the filing. With Meta’s market cap now at $1.56 trillion and its next earnings report scheduled for January 29, investors can access extensive analysis and additional insights via InvestingPro’s detailed research reports, covering more than 1,400 US stocks.
In other recent news, the US Supreme Court is currently hearing arguments regarding a potential ban or sale of TikTok, a move that could significantly affect companies like Meta and Oracle (NYSE: ). Analysts from Morgan Stanley (NYSE: ) suggest that Meta and YouTube could benefit from such a ban, as users would likely shift their time to those platforms. However, Oracle, which hosts TikTok, could experience a loss of revenue, according to analyst Evercore ISI.
In the latest development, Meta has been upgraded to a Buy rating by China Merchants Securities, citing the company’s strong profitability and potential for further growth through AI applications. Meta’s efforts to monetize features like Threads and WhatsApp are expected to add to revenue.
Additionally, Meta announced a trial that will allow users in Germany, France and the US to browse eBay (NASDAQ: ) listings on Facebook Marketplace. The move follows a European Union ruling that the link between Meta’s classifieds service and its main social network undermines competition.
In addition, Meta announced a significant change in its content moderation policy, moving from an American fact-checking program to a community-based system. This change is similar to the model used by X Elon Musk, formerly of Twitter, and aims to reduce errors and instances of censorship, restoring its core principles of freedom of expression.
Finally, Meta expanded its board of directors, bringing in Dana White, CEO of the Ultimate Fighting Championship, John Elkann, CEO of Exor (AS:), and Charlie Songhurst, an experienced technology investor. These recent developments reflect Meta’s ongoing efforts to adapt and take leadership in the competitive technology industry.
This article was generated with the help of AI and reviewed by an editor. See our T&C for more information.
