Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg recently sold a significant amount of the company’s stock, according to the company’s latest filings. The transactions, which took place on March 26, 2024, involved the sale of shares of Class A common stock, totaling more than $16 million.
The sales were executed at varying prices, ranging from $495.7316 to $509.4152 per share. This range reflects the weighted average prices of the multiple transactions, as detailed in the filing notes. The total value of the shares sold under the transaction code S(2) was approximately $16,588,523.
In addition, under the transaction code S(17), Zuckerberg sold shares totaling $6,639,781, with individual sales prices ranging from $495.7673 to $509.7501. These trades were also part of a pre-arranged trading plan that was approved on July 31, 2023.
It is important to note that the shares sold were owned by the Chan Zuckerberg Initiative Foundation and the Mark Zuckerberg Trust on July 7, 2006. Although Zuckerberg is considered to have voting and investment authority over the shares owned by these entities, he has no financial interest in them.
The recent transactions do not reflect any direct purchases of shares by Zuckerberg, as the transaction code C, which typically indicates an acquisition of shares, reported a total value of $0.0 at a price of $0.0.
Investors and Meta Platforms followers are likely to closely watch Zuckerberg’s future transactions to gauge the CEO’s confidence in the social media giant’s prospects. The company’s stock performance and Zuckerberg’s trading activity often serve as indicators of market sentiment toward the tech industry and Meta’s strategic direction.
