Meta Platforms, Inc. (NASDAQ:META) is Connective Capital Management LLC’s 10th Largest Position

Connective Capital Management LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,154 shares of the social networking company’s stock after purchasing an additional 169 shares during the period. Meta Platforms comprises approximately 3.5% of Connective Capital Management LLC’s portfolio, making the stock its 10th largest position. Connective Capital Management LLC’s holdings in Meta Platforms were worth $3,018,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Ballentine Partners LLC raised its stake in Meta Platforms by 1.4% during the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock worth $34,087,000 after acquiring an additional 808 shares in the last quarter. UMB Bank n.a. raised its stake in Meta Platforms by 0.6% during the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock worth $82,314,000 after acquiring an additional 897 shares in the last quarter. Suvretta Capital Management LLC raised its stake in Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after acquiring an additional 1,850 shares in the last quarter. Skye Global Management LP raised its stake in Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock worth $44,616,000 after acquiring an additional 43,200 shares in the last quarter. Finally, Brueske Advisory Services LLC acquired a new position in Meta Platforms in the fourth quarter valued at $459,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 0.5%

Shares of META opened at $637.10 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a 50 day simple moving average of $572.72 and a 200-day simple moving average of $607.81. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The stock has a market cap of $1.60 trillion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business earned $4.71 earnings per share. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Meta Platforms from $610.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Cantor Fitzgerald lifted their price objective on shares of Meta Platforms from $624.00 to $676.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Oppenheimer lifted their price objective on shares of Meta Platforms from $650.00 to $665.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Roth Capital lifted their price objective on shares of Meta Platforms from $580.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, Tigress Financial restated a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $701.05.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer now owns 1,183 shares in the company, valued at $753,393.55. This trade represents a 94.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 3,523 shares of Meta Platforms stock in a transaction on Friday, February 21st. The shares were sold at an average price of $701.10, for a total transaction of $2,469,975.30. The disclosure for this sale can be found here. Insiders have sold a total of 79,169 shares of company stock worth $50,927,926 in the last quarter. 13.71% of the stock is owned by insiders.

Meta Platforms Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.