Social media giant Meta Platforms’ (NASDAQ:META) CEO, Mark Zuckerberg, sold nearly $500 million worth of company shares at the end of 2023, capitalizing on the stock’s 2023 gains. Over the past year, Meta stock has gained by more than 150%.
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This was Zuckerberg’s first share sale in almost two years. Despite the sale, Zuckerberg still retains about a 13% stake in the company and is currently ranked as the seventh-richest person globally with a $125 billion fortune, according to the Bloomberg Billionaires Index. The CEO’s move was part of a trading plan set in July. META stock, like the broader market, has struggled in early 2024, declining 2.7% in the first two trading days of the new year.
Is META a Buy, Sell, or Hold?
Analysts remain bullish about META stock with a Strong Buy consensus rating based on 36 Buys and one Hold. The average META price target of $392.20 implies an upside potential of 13.7% at current levels.
