Meta Platforms Inc. (NASDAQ:META) CEO Mark Zuckerberg sold approximately $88 million worth of company stock over the past week, according to regulatory filings with the U.S. Securities and Exchange Commission (SEC) on Wednesday.
What Happened: The sales occurred in two tranches, with Zuckerberg divesting $43.82 million in shares last week followed by an additional $44.29 million this week. The transactions were executed at prices ranging from $607.97 to $621.88 per share, the SEC filings show.
The stock sales come amid Meta's stellar performance in 2024, with shares surging 82.70% year-to-date. The company's stock closed at $632.68 on Wednesday, up 2.16%, though it edged down 0.20% in after-hours trading.
The social media giant's robust performance aligns with the broader success of the "Magnificent Seven" tech companies. Meta, alongside Apple Inc., Alphabet Inc., Amazon.com Inc., and Tesla Inc., reached new record highs during Wednesday's trading session. Together, these tech giants have achieved a combined market capitalization of $18.2 trillion.
Why It Matters: Despite the recent share sales, Zuckerberg remains one of the world's wealthiest individuals, ranking third on the Bloomberg Billionaire Index with a net worth of $224 billion.
The insider selling activity at Meta has been notable, with company insiders selling 59.63K shares worth $90.71M over the past 30 days, while no insider purchases were reported during the same period.
Meta currently boasts a market capitalization of $1.59 trillion and trades at a price-to-earnings ratio of 29.23. The company's stock has traded between $320.00 and $629.79 over the past 52 weeks, with analysts maintaining a positive outlook.
Based on 41 analyst ratings, Meta has a consensus price target of $639.56, with recent analyses from Piper Sandler, Raymond James, and Wells Fargo suggesting an average upside potential of 4.85%, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
The social media giant's robust performance aligns with the broader success of the "Magnificent Seven" tech companies. Meta, alongside 
ソーシャルメディアの巨人の力強いパフォーマンスは、「マグニフィセントセブン」と呼ばれるテクノロジー企業の成功と一致しています。メタは、アップル、アルファベット、アマゾン･ドットコム、テスラと共に、水曜日の取引セッション中に新たな記録を達成しました。これらのテクノロジー大手は合わせて18.2兆ドルの時価総額を達成しています。
