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Meta’s COO Olivan sells $2.27 million in Class A common shares

Meta Platforms Inc said earlier this week its Chief Operating Officer Javier Olivan had sold company shares in a total transaction size of $2.27 million.

The tech company said in a regulatory filing that its COO had sold 13,341 shares of Meta’s Class A common stock in a transaction that occurred on February 17th.

The shares were sold at a price of $170.23 each, the filing showed.

The shares of Meta Platforms Inc (META) closed 0.46% ($0.80) lower at $172.08 on Nasdaq on Tuesday, while erasing the gain from last Friday.

The tech giant’s total market cap now stands at $446.14 billion.

The shares of Meta Platforms Inc went down 64.22% in 2022, compared with a 19.44% loss for the benchmark index, S&P 500 (SPX).

The shares have risen 42.99% so far this year, while solidly outperforming the major stock index.

In other news, Meta Platforms is expected to announce a monthly subscription service for Instagram and Facebook this week.

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