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Meta platforms CFO Susan Li sells over $17.8 million in stock

Published 2024-05-17, 08:16 p/m
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Meta Platforms, Inc. (NASDAQ:META) Chief Financial Officer Susan Li has recently completed a series of stock transactions, selling shares worth over $17.8 million. The transactions, which occurred on May 15th and 16th, were reported in a filing with the Securities and Exchange Commission.

The sales involved a total of 8,950 shares sold at an average price of $471.85 on May 15th, amounting to approximately $4.2 million. Additionally, on May 16th, Li sold a further 16,643 shares in a series of transactions with prices ranging from $474.07 to $476.76, totaling approximately $8.9 million. These sales were executed under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks at a specific time.

Furthermore, the filing revealed that a total of 9,392 shares were withheld by Meta Platforms to satisfy income tax withholding and remittance obligations related to the net settlement of Restricted Stock Units (RSUs). These transactions are not considered open market sales and amounted to approximately $4.4 million at the average price of $471.85.

The transactions come as part of the regular financial activities of corporate executives, who often sell portions of their stock holdings for personal financial management reasons. It's important to note that such sales do not necessarily indicate a lack of confidence in the company's future prospects.

Investors and market watchers often pay close attention to insider transactions as they can provide insights into the executives' views on the company's valuation and outlook. However, these transactions are subject to strict regulatory requirements to prevent any potential misuse of insider information.

As of the latest filing, following these transactions, Li's remaining holdings in Meta Platforms have been adjusted accordingly, reflecting her current stake in the company.

Meta Platforms, formerly known as Facebook Inc ., is a leader in the social media and technology sector, with a broad portfolio of products and services including Facebook, Instagram, and WhatsApp. The company's stock performance is closely monitored by investors, and insider transactions are just one of many factors that can influence investor sentiment.

InvestingPro Insights

As Meta Platforms, Inc. (NASDAQ:META) navigates through the dynamic social media landscape, the company's financial health and market performance continue to be of paramount interest to investors. The recent insider transactions by CFO Susan Li may prompt investors to delve deeper into the company's valuation and outlook. To provide a clearer picture, let's consider some real-time data and InvestingPro Tips.

InvestingPro Data reveals that Meta Platforms holds a formidable market capitalization of $1.2 trillion, reflecting its substantial presence in the industry. The company's P/E ratio stands at 26.43, which adjusts to 24.75 for the last twelve months as of Q1 2024, indicating a valuation that may be attractive relative to its near-term earnings growth. Additionally, the company's revenue growth has been robust, with a 21.62% increase over the last twelve months as of Q1 2024.

One of the InvestingPro Tips highlights Meta's impressive gross profit margins, which reached 81.5% in the last twelve months as of Q1 2024. This financial metric underscores the company's ability to effectively manage its cost of goods sold and maintain profitability. Another tip points out that Meta is trading at a low P/E ratio relative to near-term earnings growth, which could signal a potential undervaluation of its stock given its growth prospects.

For those looking to delve deeper into the financial nuances of Meta Platforms, there are 14 additional InvestingPro Tips available, which can offer further insights into the company's financial strength and market position. These tips, along with comprehensive data, can be accessed through the InvestingPro platform, which provides an in-depth analysis of companies for savvy investors.

Investors interested in leveraging these insights can take advantage of an exclusive offer by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. This offer can help investors stay ahead of the curve with access to valuable financial information and analysis.

Meta Platforms remains a prominent player in the Interactive Media & Services industry, and understanding the company's financials is crucial for investors making informed decisions. With the support of InvestingPro insights, investors can better navigate the complexities of the stock market and the intricacies of Meta Platforms' financial landscape.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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