Meta Platforms Inc (NASDAQ:META), a leading technology company specializing in social media and related products and services, has reported an insider sale according to a recent SEC filing. Chief Legal Officer Jennifer Newstead sold 585 shares of the company on February 27, 2024.
The transaction was executed at a price of $480 per share, resulting in a total sale amount of $280,800. Following this transaction, Jennifer Newstead's total sales over the past year amount to 31,084 shares, with no recorded purchases of the company's stock during the same period.
The insider transaction history for Meta Platforms Inc indicates a trend of insider sales, with a total of 172 insider sells and no insider buys over the past year.
In terms of valuation, Meta Platforms Inc's shares were trading at $480 on the day of the insider's recent sale, giving the company a market cap of approximately $1,248.239 billion. The price-earnings ratio stands at 32.48, which is above the industry median of 22.27 but below the company's historical median price-earnings ratio.
With the current share price and a GuruFocus Value of $344.09, Meta Platforms Inc has a price-to-GF-Value ratio of 1.39, indicating that the stock is Significantly Overvalued based on its GF Value. The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
The sale by the insider may be of interest to investors tracking insider behavior as an indicator of company performance and valuation. However, it is important to consider a wide range of factors when evaluating the implications of insider transactions.
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.
