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 technology 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, amounting to a transaction value of $535,542. Following the sale, Newstead retains ownership of 32,915 shares. This sale was executed under the Rule 10b5-1 trading plan, adopted by Newstead on November 30, 2023. With META trading near the 52-week high and analysts maintaining a bullish view, InvestingPro subscribers have access to comprehensive insider trading analysis and 13 additional key insights into META's financial health, currently rated as GREAT.
In other recent news, Meta Platforms has seen significant development. The company appointed 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. On the financial side, JMP Securities raised its price target on Meta to $750, maintaining a Market Outperform rating due to advances in artificial intelligence and messaging. RBC Capital also maintained an Outperform rating on Meta, raising its price target to $700, citing AI investment as a key driver of long-term earnings growth. Canaccord Genuity also explained the situation, raising the price of Meta from $ 700 to $ 730. This latest development shows the continued growth of Meta and high expectations from different analysts.
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