Mark Zuckerberg, CEO of Meta Platforms, Inc. (NASDAQ:META), recently executed a series of transactions involving the company's Class A Common Stock. The sales come as Meta, now a $1.55 trillion market cap company, trades near its 52-week high of $629.79 and boasts an impressive 74% gain year-to-date. On December 5, Zuckerberg sold a total of 22,892 shares through CZI Holdings, LLC, generating approximately $14 million. The shares were sold at prices ranging from $607.87 to $619.23 per share.
Additionally, the Chan Zuckerberg Initiative Foundation, another entity associated with Zuckerberg, sold 15,579 shares of Meta stock, amounting to a total of about $7.9 million. These shares were transacted at prices between $607.92 and $619.25 per share. According to InvestingPro, Meta maintains excellent financial health with an impressive 81.5% gross profit margin.
Zuckerberg also converted 22,946 shares of Class B Common Stock into Class A shares, although these transactions did not involve any monetary exchange. The sales were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks. For deeper insights into Meta's insider trading patterns and 15+ additional ProTips, check out the comprehensive research available on InvestingPro.
In other recent news, Amazon (NASDAQ:AMZN) continues to impress, with Truist Securities maintaining a Buy rating on the company's shares amid expectations for record highs in U.S. e-commerce and digital advertising spending. Amazon's U.S. revenue is tracking at or slightly above the consensus estimate of $114.5 billion for Q4 2024, indicating a strong performance. Meanwhile, Meta Platforms announced a $0.50 quarterly dividend, affirming its commitment to shareholder returns. The company also celebrated a significant legal victory as a U.S. appeals court upheld legislation mandating ByteDance to sell TikTok. Meta is also planning to construct a fiber-optic subsea cable that will encircle the globe, a project expected to surpass $10 billion in investment. Piper Sandler analysts, after conducting a 2025 CIO Survey, revealed a strong outlook for IT spending, suggesting a dynamic year ahead for tech companies. These are among the recent developments in the tech sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.