Meta Platforms (NASDAQ:META) stock is on the move Friday following an insider at the social media company selling shares.
Jennifer Newstead, the Chief Legal Officer at Meta Platforms, revealed a share sale in a filing with the Securities and Exchange Commission (SEC). The META executive sold 670 shares of the company’s stock on Tuesday.
Newstead sold her shares of META stock for an average price of $297.66 each. That brings the total value of the insider’s stock sale to $199,432.20. It also leaves the executive still holding 36,340 shares of the company’s stock.
Considering Newstead continues to hold a large sum of META stock, investors aren’t likely to take this news negatively. That’s good for the company’s shares, as insiders selling stock can sometimes cause the price to fall.
META Stock Movement on Friday
With the recent insider selling news, investors are likely wondering how shares of META stock are reacting today. As of this writing, about 1.6 million shares of the company’s stock have changed hands. That’s still a far way off from the company’s daily average trading volume of about 23 million shares.
META stock is up 1.1% as of Friday morning despite the insider selling. Investors will also keep in mind that the company’s shares are up 147.2% since the start of the year.
Investors searching for even more of the most recent stock market stories today are in the right place!
We have all of the latest stock market coverage that traders will want to read about on Friday! Among that is what’s going on with shares of Blue Apron (NASDAQ:APRN), SoFi (NASDAQ:SOFI) and Tonix Pharmaceuticals (NASDAQ:TNXP) stock today. All of that news is ready to go at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
