Zuckerberg Sells Meta Platforms (NASDAQ: $META) Shares

Meta Platforms

Meta Platforms (NASDAQ: $META) founder and CEO, Mark Zuckerberg, has recently divested his shares for the first time since November 2021. According to a Bloomberg report, entities linked to Zuckerberg, including his trust and various charitable and political organizations, sold approximately 682,000 shares of Meta in November, totaling nearly $185 million.

It’s noteworthy that Zuckerberg has periodically sold blocks of Meta stocks over the past decade. However, he did not sell any shares in 2022, a year marked by the company’s significant single-day stock decline following disappointing quarterly results, resulting in Meta’s worst annual performance since 2012.

The decision to sell Meta shares in November raises questions about the motivations behind Zuckerberg’s move. Despite being one of the top-performing stocks of the year, with a surge of almost 172% until November, Meta is nearing its record highs from 2021. Given that Zuckerberg and his charitable foundation, the Chan Zuckerberg Initiative, had previously sold $1 million worth of Meta shares in 2021, this recent divestment appears to align with past actions.

The Bloomberg report highlights that the uptick in Meta’s stock has enabled Zuckerberg to maximize his involvement in various activities outside the company, including venture capital, scientific research, and investments.

As of now, the 39-year-old Zuckerberg still retains approximately 13% of Meta, contributing around $117.7 billion to his fortune, according to the Bloomberg Billionaires Index. Zuckerberg and his wife, Priscilla Chan, committed to donating 99% of their wealth to philanthropic causes nearly eight years ago. The Chan Zuckerberg Initiative, established in 2015 in Palo Alto, California, is jointly led by Zuckerberg and Chan.

Subscribe for the Latest News & Breakout Alerts:
*By Clicking 'Subscribe Now', You Hereby Agree That You Had Read, Understand, & Are In Agreement To All Terms & Conditions In Our Disclaimer & Privacy Policy.

About Meta Platforms:

Meta Platforms is a technology enterprise specializing in the creation of products and services that facilitate connectivity, community building, and business growth.

Recognized for its prominent offerings such as Facebook, Instagram, WhatsApp, Messenger, Oculus, and Portal, the company underwent a name change in October 2023, transitioning from Facebook, Inc. to Meta Platforms to better align with its ambitious goal of constructing the metaverse—an immersive digital realm fostering interaction among individuals and digital content.

As one of the globe’s most substantial and influential corporations, Meta Platforms boasts a user base exceeding 3.5 billion monthly active users across its diverse range of applications. It stands among the market’s most valuable entities, sporting a market capitalization of approximately $877 billion as of December 1, 2023.

The majority of Meta Platforms’ revenue, constituting 96% of its $34.15 billion total revenue in Q3 2023, is derived from advertising. Additionally, the company places considerable emphasis on research and development, particularly in the domains of artificial intelligence, augmented reality, virtual reality, and blockchain.

Meta Platforms
Meta Platforms (NASDAQ: $META) Stock Chart

Meta Platforms (NASDAQ: $META) Stock Price Today

As of December 6, 2023, the current stock price of Meta Platforms (NASDAQ: $META) stands at $318.29. This reflects a decrease of -0.54% from the closing price of $327.15 on November 30, 2023. The stock’s 52-week high is $384.33, while the 52-week low is $244.13.

What is the price target for Meta 12-month?

A total of 65 analysts providing 12-month price predictions for Meta Platforms Inc (META) have set a share price target at $340.42. This median forecast reflects a 1.71% upside from the most recent price of $334.70 as of November 29.

Click Here for Updates on Meta Platforms (NASDAQ: $META) – It’s FREE to Sign Up for Text Message Notifications!

Disclaimer: This website provides information about cryptocurrency and stock market investments. This website does not provide investment advice and should not be used as a replacement for investment advice from a qualified professional. This website is for educational and informational purposes only. The owner of this website is not a registered investment advisor and does not offer investment advice. You, the reader / viewer, bear responsibility for your own investment decisions and should seek the advice of a qualified securities professional before making any investment.

Subscribe for the Latest News & Breakout Alerts:
*By Clicking 'Subscribe Now', You Hereby Agree That You Had Read, Understand, & Are In Agreement To All Terms & Conditions In Our Disclaimer & Privacy Policy.