GuruFocus - On June 4, 2024, Jennifer Newstead, Chief Legal Officer of Meta Platforms Inc (NASDAQ:META), sold 905 shares of the company. The transaction was executed at a price of $477 per share, as detailed in the SEC Filing. Following this sale, the insider now owns 41,465 shares of Meta Platforms Inc.
Meta Platforms Inc, known for its social media and technology innovations, operates globally providing platforms that enable users to connect, share, discover, and communicate with each other. The company's main products include Facebook (NASDAQ:META), Instagram, Messenger, WhatsApp, and Oculus among others, focusing on connecting people through technology.
Over the past year, Jennifer Newstead has sold a total of 33,745 shares of Meta Platforms Inc and has not made any purchases of the stock. This recent transaction is part of a broader trend observed within the company, where there have been 221 insider sells and no insider buys over the past year.
The shares of Meta Platforms Inc were trading at $477 on the day of the sale, giving the company a market cap of approximately $1,259.49 billion. The price-earnings ratio of the company stands at 28.52, which is above the industry median of 22.15.
According to the GF Value, the intrinsic value of Meta Platforms Inc is estimated at $364.11 per share, which suggests that the stock is Significantly Overvalued with a price-to-GF-Value ratio of 1.31. The GF Value is calculated based on historical trading multiples, an adjustment factor from GuruFocus, and future business performance estimates from analysts.
This insider sale might interest investors tracking insider behaviors as an indicator of confidence levels in the company's future prospects, especially considering the stock's current valuation levels.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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