Yahoo Finance Meta Platforms Inc's Chief Legal Officer Jennifer Newstead Sells Company Shares
Meta Platforms Inc (NASDAQ:META) has reported an insider sale according to a recent SEC filing. Chief Legal Officer Jennifer Newstead sold 585 shares of the company on April 16, 2024. This transaction has been documented in the SEC filing which can be found here.Meta Platforms Inc, known for its social media and technology services, including the flagship social networking site Facebook, has a diverse business model that encompasses various platforms such as Instagram, WhatsApp, and Oculus. The company's focus on connecting people through technology has positioned it as a leader in the digital space.Over the past year, the insider has sold a total of 32,428 shares and has not made any purchases of the company's stock. This latest sale continues the trend observed over the past year, where there have been no insider buys and a total of 215 insider sells for Meta Platforms Inc.
On the day of the sale, shares of Meta Platforms Inc were trading at $498.59, giving the company a market capitalization of $1,279.265 billion. The price-earnings ratio stood at 33.68, which is above the industry median of 20.65 and also higher than the company's historical median price-earnings ratio.The stock's valuation, when compared to the GuruFocus Value (GF Value) of $351.38, indicates that Meta Platforms Inc is significantly overvalued with a price-to-GF-Value ratio of 1.42.
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.The insider's recent sale may be of interest to investors tracking insider behaviors as an indicator of company performance and valuation. However, it is important to consider the broader context of the market and the company's financials when evaluating the significance 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.
This article first appeared on GuruFocus.
