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Insider Sale: Chief Legal Officer of Meta Platforms Inc (META) Sells Shares

Chief Legal Officer Jennifer Newstead sold 905 shares of Meta Platforms Inc (NASDAQ:META) on May 21, 2024, according to a recent SEC Filing. Following this transaction, the insider now owns 43,275 shares of the company.

Meta Platforms Inc, known for its social media and technology innovations, operates globally, providing products that enable people to connect through mobile devices, personal computers, and other surfaces. The company's offerings include Facebook, Instagram, Messenger, WhatsApp, and Oculus. Meta Platforms Inc also extends its services to advertising businesses and provides a platform for marketers to connect with their audiences.

Over the past year, Jennifer Newstead has sold a total of 33,379 shares and has not made any purchases of the company's stock. This recent transaction is part of a broader trend observed within the company, where there have been 218 insider sells and no insider buys over the past year.

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On the date of the latest transaction, shares of Meta Platforms Inc were priced at $467.57, bringing the company's market cap to approximately $1,181.47 billion. The price-earnings ratio stands at 26.75, which is above the industry median of 23.05.

The stock's valuation, according to the GF Value, is set at $361.45, indicating that with a current price of $467.57, Meta Platforms Inc is modestly overvalued with a price-to-GF-Value ratio of 1.29.

Insider Sale: Chief Legal Officer of Meta Platforms Inc (META) Sells Shares
Insider Sale: Chief Legal Officer of Meta Platforms Inc (META) Sells Shares
Insider Sale: Chief Legal Officer of Meta Platforms Inc (META) Sells Shares
Insider Sale: Chief Legal Officer of Meta Platforms Inc (META) Sells Shares

The GF Value is calculated considering historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.

This insider sale might interest investors tracking insider behaviors as an indicator of the company's future performance and stock valuation adjustments.

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.

This article first appeared on GuruFocus.