Javier Olivan, Chief Operating Officer of Meta Platforms, Inc. (NASDAQ:), recently sold 413 shares of the company’s Class A Common Stock. The transaction, which occurred on December 30, 2024, was executed at a price of $589.16 per share, for a total value of $243,323. The sale comes as the Meta, now valued at $1.51 trillion, is trading near a 52-week high of $638.40, after posting an impressive 73.71% return over the past year. This sale was conducted under the Rule 10b5-1 trading plan adopted by Olivan on August 30, 2023.
After this transaction, Olivan directly holds 17,514 shares. In addition, he retains indirect ownership through various entities, including Olivan D LLC, Olivan Reinhold D LLC and the Olivan Reinhold Family Revocable Trust. Together, these holdings make up a significant portion of his remaining stake in Meta Platforms.
In other recent news, the Meta Platforms have seen significant progress. The tech giant has appointed Joel Kaplan as its new chief global affairs officer, replacing Nick Clegg. Kaplan’s responsibilities will include addressing key issues such as content policy and elections.
In financials, JMP Securities raised Meta’s price target to $750, maintaining an outperform rating. The company cited advances in artificial intelligence (AI) and messaging as growth catalysts. RBC Capital also expressed confidence in Meta’s AI strategy, raising its price target to $700. Canaccord Genuity echoed that sentiment, raising Meta’s price target from $700 to $730, recognizing the company’s growth prospects in creative ad and business messaging.
Meanwhile, Meta’s Instagram platform is forecast to generate half of the company’s US advertising revenue by 2025. Despite $264 million in fines from the Irish Data Protection Commission over a data breach, analysts at Truist Securities expressed a positive outlook for Meta’s prospects for 2025. These are recent developments that provide insight into the dynamic environment in which Meta operates.
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