Connective Capital Management LLC Acquires 169 Shares of Meta Platforms, Inc. (NASDAQ:META)

Connective Capital Management LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,154 shares of the social networking company’s stock after buying an additional 169 shares during the period. Meta Platforms makes up about 3.5% of Connective Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Connective Capital Management LLC’s holdings in Meta Platforms were worth $3,018,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ballentine Partners LLC increased 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 buying an additional 808 shares during the period. UMB Bank n.a. increased 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 buying an additional 897 shares during the period. Suvretta Capital Management LLC increased 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 buying an additional 1,850 shares during the period. Skye Global Management LP increased 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 buying an additional 43,200 shares during the period. Finally, Brueske Advisory Services LLC purchased a new stake in Meta Platforms during the 4th quarter worth $459,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $686.28, for a total value of $417,258.24. Following the transaction, the chief operating officer now directly owns 9,270 shares in the company, valued at approximately $6,361,815.60. This trade represents a 6.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 3,523 shares of the firm’s 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 90 days. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Down 0.5%

META stock opened at $637.10 on Wednesday. The company has a 50 day moving average of $572.72 and a two-hundred day moving average of $607.81. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a market cap of $1.60 trillion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.42 and a beta of 1.24. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

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

Wall Street Analyst Weigh In

META has been the topic of several analyst reports. TD Securities dropped their price target on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Barclays lowered their price objective on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Wedbush boosted their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, Wells Fargo & Company lowered their price objective on shares of Meta Platforms from $752.00 to $664.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $701.05.

Meta Platforms Company 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.