Meta Platforms Inc (NASDAQ:META), a leading technology company specializing in social networking services and digital platforms, has reported an insider sale according to a recent SEC filing. Chief Legal Officer Jennifer Newstead sold 585 shares of the company on March 12, 2024.
The transaction was executed at a price of $493.75 per share, resulting in a total sale amount of $288,843.75. Following this transaction, the insider's total sales over the past year amount to 31,468 shares, with no recorded purchases in the same period.
The insider transaction history for Meta Platforms Inc indicates a trend of insider sales, with 192 insider sells and no insider buys over the past year.
On the valuation front, Meta Platforms Inc's shares were trading at $493.75 on the day of the insider's recent sale, giving the company a market capitalization of approximately $1,253.925 billion. The price-earnings ratio stands at 33.01, which is above the industry median of 21.835 but below the company's historical median price-earnings ratio.
The stock's current price-to-GF-Value ratio is 1.43, with a GF Value of $345.75, indicating that Meta Platforms Inc is significantly overvalued according to GuruFocus's valuation model. The GF Value is determined by considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.
For more detailed information on insider transactions and the company's financial performance, interested parties can refer to the SEC filing linked below.
SEC Filing
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