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Meta CEO Mark Zuckerberg sells shares worth $14.5M

Published 2024-12-11, 09:40 p/m
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META
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Mark Zuckerberg, CEO of Meta Platforms Inc. (NASDAQ:META), disclosed significant stock transactions in a recent filing. The sales come as META trades near its 52-week high of $638.40, having delivered an impressive 89.87% return over the past year. According to InvestingPro data, the company maintains a GREAT financial health score. On December 11, Zuckerberg sold shares valued at approximately $14.5 million through CZI Holdings, LLC. The sales occurred at prices ranging from $623.37 to $638.05 per share. Additionally, the Chan Zuckerberg Initiative Foundation reported sales totaling around $8.2 million, with prices between $622.00 and $638.37 per share. These transactions are part of a trading plan adopted earlier this year. Want deeper insights into META's valuation and 14 additional ProTips? Access the comprehensive Pro Research Report on InvestingPro.

In other recent news, Piper Sandler recently raised its digital ad growth forecast for 2025, reflecting increased economic confidence and adoption of AI tools in the industry. The survey results were particularly favorable for Alphabet (NASDAQ:GOOGL) Inc's Google, with its AI products, Gemini and Performance Max, identified as having strong potential to drive incremental spend in 2025. Meanwhile, Meta experienced impressive revenue growth of 23% over the last twelve months, supported by a robust gross profit margin of 81.5%.

The European Commission is probing a discontinued advertising collaboration between Google and Meta Platforms, aimed at targeting teenagers on YouTube for the promotion of Instagram. Despite the termination of the project, the commission continues to investigate the details of the partnership.

In other developments, Piper Sandler raised the target for Meta shares, recognizing the company's impressive earnings results for 2024 and advancements in artificial intelligence. Truist Securities maintains a Buy rating on Amazon (NASDAQ:AMZN) shares, forecasting record highs in U.S. e-commerce and digital advertising spending. Lastly, Meta Platforms announced a $0.50 quarterly dividend and plans to construct a fiber-optic subsea cable encircling the globe, marking a significant move to take control of its internet infrastructure.

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