Meta platforms’ COO Javier Olivan sells shares worth $243,323 By Investing.com

Meta Platforms, Inc. (NASDAQ:) Chief Operating Officer Javier Olivan recently sold 413 shares of the company’s Class A common stock.The transaction occurred on December 30, 2024 at a price of $589.16 per share. , which is a total cost of $243,323. The sale comes as Meta, now valued at $1.51 trillion, is trading near its 52-week high of $638.40, delivering an impressive 73.71% return over the past year executed pursuant to a Rule 10b5-1 trading plan adopted by Olivan on August 30, 2023.

After this transaction, Olivan directly owns 17,514 shares. In addition, he maintains indirect ownership through various entities, including Olivan D LLC and the Olivan Reinhold Family Revocable Trust are a significant portion of its remaining stake in Meta Platforms.

In other recent news, Meta Platforms has seen significant developments. The tech giant has appointed Joel Kaplan as its new COO, replacing Nick Clegg. Kaplan’s responsibilities will include handling key issues such as content policy and elections.

In financials, JMP Securities raised its price target on Meta to $750, maintaining a market outperform rating. The company cited advances in artificial intelligence (AI) and messaging as a catalyst. RBC Capital also expressed confidence in Meta’s AI strategy raising his price target to $700. Canaccord Genuity responded to this sentiment by raising its price target on Meta from $700 to $730, recognizing the company’s growth prospects in ad creative production and business messaging.

Meanwhile, Meta’s Instagram platform is predicted to generate half of the company’s advertising revenue in the US by 2025. Despite being hit with a $264 million fine by the Irish Data Protection Commission, analysts at Truist Securities are positive. have reported on Meta’s prospects for 2025. These are recent developments that provide insight into the dynamic environment in which Meta operates.

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