Members of Congress buy Meta Platforms as insiders sell

Two members of Congress bought shares in Meta Platforms four times over the past 30 days, while insiders at the internet group sold $67.6mn of stock on the open market. Filings show company insiders recorded 29 sales and no purchases during the period.

At Okta, one member of Congress made two purchases while insiders sold $11.0mn across 17 sales and bought no shares. Microsoft recorded insider sales of $20.8mn, while three members of Congress made five purchases.

Filings disclosed in the last 30 days showed 20 members of Congress made 560 trades. Lawmakers reported $8.6mn of sales against $3.7mn of purchases, with sales accounting for 70 per cent of disclosed value.

Members of Congress sold the most on balance in energy, which recorded $840,000 of net selling across 13 trades. In technology, lawmakers made 87 trades, with $1.4mn bought and $2.0mn sold.