Meta Platforms, Inc. (NASDAQ:) recently saw a significant stock transaction by 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 a price of $631.55 each, amounting to a total value of $571,552. The transaction comes as Meta trades near its 52-week high of $638.40, and InvestingPro data showing the company maintains a “GREAT” financial health score.
Following the transaction, Newstead retained ownership of 32,010 shares in the company. The sale was conducted under a Rule 10b5-1 trading plan, which was adopted on November 30, 2023, as noted 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 comprehensive analysis and additional insights InvestingPro's detailed research reports, covering more than 1,400 US stocks.
In other recent news, the US Supreme Court is now hearing arguments about the ban or sale of TikTok, a move that could have a negative impact on companies like Meta and Oracle (NYSE:). Commentators from Morgan Stanley (NYSE: ) suggests that Meta and YouTube could benefit from such bans, as users can reclaim their time on these platforms. However, Oracle, which owns TikTok, could see a loss in revenue, as predicted by Evercore ISI analysts.
In recent developments, 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 contribute to its revenue.
Additionally, Meta announced a trial to allow users in Germany, France, and the US to browse eBay (NASDAQ:) listings on Facebook Marketplace. The move follows a ruling by the European Union that the link between Meta's classified ads service and its large social network undermined competition.
In addition, Meta announced an important change in the content moderation policy, switching from a US fact-checking program to a community-based program. This change is similar to the model used by Elon Musk's X, formerly of Twitter, and aims to reduce errors and diagnostic incidents, restoring its basic principles of free expression.
Finally, Meta has expanded its board of directors, welcoming Dana White, CEO of Ultimate Fighting Championship, John Elkann, CEO of Exor (AS:), and Charlie Songhurst, technology investor. These recent developments reflect Meta's continued efforts to adapt and lead in a competitive technology industry.
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