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Monster insider trade alert for Meta stock

Monster insider trade alert for Meta stock
Elmaz Sabovic

The technology and communication sectors have been among the top performers in the S&P 500 this year, driven by the AI revolution and strong market momentum.

Combined with the AI revolution, it is no wonder Meta Platforms (NASDAQ: META) is up 42% in 2024 alone, setting new all-time highs.

This strong performance has motivated former Chief Operating Officer Sheryl Sandberg to sell 103,459 META shares on May 29 for a profit of almost $50 million.

The sales were executed in accordance with a Rule 10b5-1 trading plan, which was adopted on February 28, 2024. Such plans allow company insiders to sell shares at predetermined times to avoid accusations of insider trading.

Insider sale of META stock by Sheryl Sandberg. Source: Barchart
Insider sale of META stock by Sheryl Sandberg. Source: Barchart

Sandberg’s recent sales are significant due to her recent prominent role at the company and the substantial value of the shares she sold.

This sale follows heavy insider selling activity of META stock in the previous 12 months. With 147 sales and no buys, it is the most sold stock among the members of the ‘Magnificent Seven.’

How much did insiders make in 2024 by selling META stock?

During this period, Meta insiders made 95 sales totaling 4.5 million shares, resulting in substantial profits.

With an average closing price of $450.32 in 2024, multiplied by the 4,555,433 shares sold, insiders made just over $2 billion.

While the strong performance of META shares and the overall market likely motivated profit-taking, insider sales may have also been influenced by personal financial planning and diversification strategies.

META stock price chart

Despite a slight dip of 0.26% in the latest trading session, META shares closed at $493.76 on June 6. This follows gains of 5.98% over the past five trading sessions and a 5.45% increase over the last month.

META stock 5-day price chart. Source: Finbold
META stock 5-day price chart. Source: Finbold

If the gains continue in the upcoming months of 2024, insiders will potentially persist in their selling activities.

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