Meta Platforms Inc ( META ) shares have been treading water for the better part of the past month. The company reported earnings at the end of October. Here’s a look at what you need to know.

What To Know: Meta shares have struggled to move higher since the company reported third-quarter financial results last month. Although Meta beat analyst estimates on the top and bottom lines as revenue jumped 19% and daily actives climbed 5%, the stock faced selling pressure due to spending concerns.

Meta raised its full-year 2024 capital expenditures outlook by $1 billion and said it continues to expect operating losses to “increase meaningfully” year-over-year for Reality Labs.

It’s worth noting that insiders have been selling Meta shares in recent months. CEO Mark Zuckerberg, CFO Susan Li and COO Javier Olivan all sold shares in November under trading plans, with Olivan most recently selling shares on Monday, according to Benzinga data.

On a positive note, Axios reported Wednesday that Meta’s Threads has added 35 million new users on the platform since Nov. 1. Micro-blogging startup Bluesky has seen users flock to the platform since Election Day, suggesting users are leaving X because of Elon Musk’s political views. Meta also appears to be a beneficiary.

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On the earnings call last month, Zuckerberg said Threads had over 275 million monthly active users. That number appears to be growing rapidly with Axios reporting that the app has seen more than one million daily sign-ups for three months straight.

Meta aims to capitalize on the momentum. Zuckerberg on Monday said Threads is testing a new feature that will allow users to choose what they see when they open the app. Previously, Threads directed users to a default feed, but users can now choose to only see posts from accounts they follow.

Meta is also set to head to trial in April after Judge James Boasberg rejected Meta’s attempted dismissal of the case and set a court date earlier this week. The Facebook parent company will face U.S. Federal Trade Commission allegations that it acquired Instagram and WhatsApp to stifle competition in the social media space.

META Price Action: Meta shares closed Wednesday down 0.76% at $569.20, according to Benzinga Pro.