Mark Zuckerberg sells Meta shares for $22.8 million from Investing.com

Meta Platforms, Inc. (NASDAQ:) Chairman and CEO Mark Zuckerberg recently made a series of stock sales, according to a filing with the Securities and Exchange Commission. On December 13, Zuckerberg, through affiliated companies, sold a significant amount of Class A common stock, totaling approximately $22.8 million. The sales come as Meta stock is trading near its 52-week high of $638.40 and has returned an impressive 87.1% over the past year. According to InvestingPro, Meta scores an overall “GREAT” financial health rating.

The transactions were conducted through CZI Holdings, LLC and the Chan Zuckerberg Initiative Foundation. CZI Holdings, LLC’s sales totaled $14.3 million, with prices ranging from $617.80 to $630.23 per share. Meanwhile, the Chan Zuckerberg Initiative Foundation sold $8.1 million worth of shares at prices between $617.87 and $629.83 per share.

These sales were conducted under a pre-agreed trading plan accepted on August 9, 2024. Despite these sales, Zuckerberg retains a significant stake in Meta Platforms through various holdings.

In other recent news, President-elect Donald Trump has hinted at a possible overhaul of the TikTok ban, a notable departure from his previous stance. This development comes as TikTok’s parent company ByteDance faces a deadline to divest the platform by 2025, a lawsuit that was upheld by a federal appeals court. Meanwhile, deVere Group CEO Nigel Green predicts that tech giants including Apple (NASDAQ:), Microsoft (NASDAQ:), Alphabet (NASDAQ:), Amazon (NASDAQ:), Nvidia (NASDAQ:), Meta and Tesla (NASDAQ: ) will continue to thrive through 2025, despite potential risks such as high valuation metrics and increasing regulatory scrutiny.

In a surprise move, Meta donated $1 million to Trump’s inaugural fund, a significant change from its previous decision to ban Trump from its platforms. China’s Instagram rival Xiaohongshu is poised to double its profits to over $1 billion in 2024, potentially paving the way for an IPO.

Piper Sandler has raised its digital advertising growth forecast for 2025, reflecting increased economic confidence and expectations in the digital advertising industry. This forecast is in line with Meta’s recent performance, which posted impressive revenue growth of 23% over the last twelve months. These are some of the recent developments in the global technology industry.

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