In a recent transaction, Jennifer Newstead, Chief Legal Officer of Meta Platforms, Inc. (NASDAQ: ), sold 905 shares of the company’s Class A Common Stock. The tech giant, currently valued at $1.51 trillion, has seen its stock rise 73.71% over the past year. The shares were sold at a price of $591.76 each, for a total transaction value of $535,542. Following the sale, Newstead retains ownership of 32,915 shares. This sale was executed under a Rule 10b5-1 trading plan, adopted by Newstead on November 30, 2023. With META trading near a 52-week high and analysts maintaining an upbeat outlook, InvestingPro subscribers can access extensive insider trading analysis and 13 additional key insights on META’s financial health, which is currently rated EXCELLENT.
In other recent news, the Meta Platforms have seen significant progress. The company has named Joel Kaplan as its new chief global affairs officer, replacing Nick Clegg. Kaplan is expected to take on key responsibilities such as content policy and election management. In financials, JMP Securities raised Meta’s price target to $750, maintaining a market outperform rating thanks to advances in artificial intelligence and messaging. RBC Capital also maintained an Outperform rating on Meta, raising its price target to $700, citing investments in artificial intelligence as a key driver of long-term earnings growth. Canaccord Genuity reiterated this positive view, raising Meta’s target price from $700 to $730. These recent events underscore Meta’s continued growth and the high expectations of various analysts.
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