Mark Zuckerberg, Chairman and CEO of Meta Platforms, Inc. (NASDAQ:META), recently executed a series of stock sales, according to a filing with the Securities and Exchange Commission. On December 13, Zuckerberg sold a substantial amount of Class A Common Stock through entities associated with him, amounting to a total of approximately $22.8 million. The sales come as Meta's stock trades near its 52-week high of $638.40, having delivered an impressive 87.1% return over the past year. According to InvestingPro, Meta maintains a "GREAT" overall financial health score.
The transactions were carried out through CZI Holdings, LLC and the Chan Zuckerberg Initiative Foundation. The sales by CZI Holdings, LLC, totaled $14.3 million, with prices ranging from $617.80 to $630.23 per share. Meanwhile, the Chan Zuckerberg Initiative Foundation sold shares worth $8.1 million, at prices between $617.87 and $629.83 per share.
These sales were conducted under a pre-arranged trading plan adopted on August 9, 2024. Despite these sales, Zuckerberg maintains a significant stake in Meta Platforms through various holdings.
In other recent news, President-elect Donald Trump has hinted at a possible reconsideration of the TikTok ban, a notable shift from his previous stance. This development comes as TikTok's parent company, ByteDance, faces a deadline to divest the platform by 2025, an action upheld by a federal appeals court. Meanwhile, deVere Group CEO Nigel Green predicts that tech giants, including Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL), Amazon (NASDAQ:AMZN), Nvidia (NASDAQ:NVDA), Meta, and Tesla (NASDAQ:TSLA), will continue to thrive through 2025, despite potential risks such as high valuation multiples and increasing regulatory scrutiny.
In a surprising move, Meta has donated $1 million to Trump's inaugural fund, a significant change from its previous decision to ban Trump from its platforms. China's Instagram-rival Xiaohongshu is poised to double its profits to surpass $1 billion in 2024, potentially paving the way for an initial public offering.
Piper Sandler has raised its digital ad growth forecast for 2025, reflecting increased economic confidence and expectations in the digital advertising industry. This forecast aligns with Meta's recent performance, which saw impressive revenue growth of 23% over the last twelve months. These are among the recent developments in the global tech industry.
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