On October 24, 2023, Jennifer Newstead, the Chief Legal Officer of Meta Platforms Inc (META, Financial), sold 670 shares of the company. This move is part of a broader trend of insider selling at Meta Platforms Inc over the past year.
Jennifer Newstead is a seasoned legal professional with a wealth of experience in both the public and private sectors. As the Chief Legal Officer of Meta Platforms Inc, she is responsible for overseeing all legal matters related to the company. Her role is crucial in navigating the complex legal landscape of the tech industry.
Meta Platforms Inc, formerly known as Facebook Inc, is a global technology company that builds products to connect people. The company's main products include Facebook, Instagram, Messenger, WhatsApp, and Oculus. Meta Platforms Inc is headquartered in Menlo Park, California, and has a market cap of $741.95 billion.
Over the past year, Jennifer Newstead has sold a total of 26,936 shares and has not purchased any shares. This recent sale of 670 shares is part of this broader trend.
The insider transaction history for Meta Platforms Inc shows a clear trend of insider selling. Over the past year, there have been 76 insider sells and no insider buys. This could be an indication of the insiders' perception of the company's future prospects.
On the day of the insider's recent sale, shares of Meta Platforms Inc were trading for $316.78 each. This gives the stock a price-earnings ratio of 33.61, which is higher than the industry median of 18.41 but lower than the company’s historical median price-earnings ratio.
Despite the insider selling, the stock appears to be modestly undervalued based on its GF Value. With a price of $316.78 and a GuruFocus Value of $342.53, Meta Platforms Inc has a price-to-GF-Value ratio of 0.92.
The GF Value is an intrinsic value estimate developed by GuruFocus. It is calculated based on historical multiples that the stock has traded at, a GuruFocus adjustment factor based on the company’s past returns and growth, and future estimates of business performance from Morningstar analysts.
In conclusion, while the insider's recent sale of shares may raise some eyebrows, the stock's valuation suggests that Meta Platforms Inc may still be a good investment opportunity. However, potential investors should always conduct their own thorough research before making any investment decisions.
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.
