Meta Platforms, Inc. has witnessed (NASDAQ:) recently made a major stock deal by its chief legal officer, Jennifer Newstead. According to a Form 4 filed with the Securities and Exchange Commission, Newstead sold 905 shares of Meta's Class A common stock on January 7, 2025. The shares were sold at a price of $631.55 per share, amounting to a total sale value of $571,552. This deal comes as the Meta is trading near a 52-week high of $638.40. InvestingPro Data shows the company maintains an “outstanding” financial health score.
Following this transaction, Newstead retains ownership of 32,010 shares in the company. The sale was made pursuant to a Rule 10b5-1 trading plan, which was adopted on November 30, 2023, as stated in the filing. With Meta's market cap now at $1.56 trillion and its next earnings report scheduled for January 29, investors can access comprehensive analysis and additional insights through InvestingPro Detailed research reports covering over 1,400 US stocks.
In other recent news, the US Supreme Court is currently hearing arguments regarding the potential ban or sale of TikTok, a move that could significantly impact companies like Meta and Oracle (NYSE:). Analysts from Morgan Stanley (NYSE:) notes that Meta and YouTube could benefit from such a ban, as users would likely redirect their time to these platforms. However, Oracle, which hosts TikTok, may see a loss in revenue, Evercore ISI analysts estimate.
In recent developments, Meta has initiated a Buy rating by China Merchants Securities, citing the company's strong profitability and potential for further growth through AI applications. Meta's efforts to monetize features like Threads and WhatsApp are expected to contribute to its revenue.
Furthermore, Meta announced an experiment that allows users in Germany, France, and the United States to browse eBay (NASDAQ:) listings on Facebook Marketplace. The move follows a European Union ruling that the association between Meta's classifieds service and its main social network undermines competition.
Additionally, Meta announced a major shift in its content moderation policy, moving from a US-based fact-checking program to a community-based system. This change is similar to the model used by Elon Musk's X, formerly Twitter, and aims to reduce errors and instances of censorship, and restore the basic principles of freedom of expression.
Finally, Meta has expanded its board of directors, welcoming Dana White, CEO of the Ultimate Fighting Championship, John Elkann, CEO of Exor (AS:), and Charlie Songhurst, an experienced technology investor. These latest developments reflect Meta's ongoing efforts to adapt and lead in the competitive technology industry.
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