Insider Sale: Chief Legal Officer Jennifer Newstead Sells Shares of Meta Platforms Inc (META)
On August 20, 2024, Jennifer Newstead, Chief Legal Officer of Meta Platforms Inc (NASDAQ:META), sold 905 shares of the company at a price of $528.38 per share. The transaction was documented in a recent SEC Filing. Following this sale, the insider now owns 40,532 shares of Meta Platforms Inc.
Meta Platforms Inc, formerly known as Facebook, operates as a social media conglomerate, including platforms such as Facebook, Instagram, and WhatsApp among others. The company focuses on connecting people through technology and has expanded its business to include virtual reality and advertisements.
Over the past year, Jennifer Newstead has sold a total of 35,869 shares of Meta Platforms Inc and has not made any purchases of the stock. This recent sale is part of a broader trend observed within the company, where there have been 273 insider sells and no insider buys over the past year.
As of the latest trading session, Meta Platforms Inc (NASDAQ:META) had a market cap of approximately $1,346.12 billion. The stock's price-earnings ratio stood at 27.15, which is above the industry median of 20.09. This indicates a higher valuation compared to its peers.
The GF Value, an intrinsic value estimate from GuruFocus, is set at $380.27 for Meta Platforms Inc, suggesting that the stock is significantly overvalued with a price-to-GF-Value ratio of 1.39.
This valuation is based on historical trading multiples like the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for expected business performance.
The insider's recent transaction could provide investors with insights into the current valuation and future expectations of the company, amidst its ongoing developments and market positioning.
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.