Eqis Capital Management Inc. raised its position in Facebook, Inc. (NASDAQ:FB) by 4.6% in the third quarter, HoldingsChannel.com reports. The fund owned 28,691 shares of the social networking company’s stock after purchasing an additional 1,264 shares during the quarter. Eqis Capital Management Inc.’s holdings in Facebook were worth $5,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently made changes to their positions in FB. Financial Advantage Inc. acquired a new stake in Facebook in the 3rd quarter worth about $28,000. Cordasco Financial Network raised its stake in Facebook by 70.0% in the 2nd quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock worth $33,000 after purchasing an additional 70 shares in the last quarter. Shamrock Asset Management LLC acquired a new stake in Facebook in the 2nd quarter worth about $38,000. Clean Yield Group acquired a new stake in Facebook in the 2nd quarter worth about $39,000. Finally, Litman Gregory Asset Management LLC acquired a new stake in Facebook in the 2nd quarter worth about $41,000. Hedge funds and other institutional investors own 63.17% of the company’s stock.
Shares of Facebook stock traded up $1.71 during midday trading on Tuesday, hitting $191.32. 175,998 shares of the company traded hands, compared to its average volume of 15,070,674. The stock has a market cap of $544.23 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.08 and a beta of 1.05. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.66 and a current ratio of 4.66. The firm’s fifty day moving average price is $185.42 and its 200-day moving average price is $187.38. Facebook, Inc. has a 12 month low of $123.02 and a 12 month high of $208.66.
In related news, CRO David B. Fischer sold 12,267 shares of Facebook stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $184.12, for a total transaction of $2,258,600.04. Following the sale, the executive now directly owns 48,970 shares in the company, valued at approximately $9,016,356.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David M. Wehner sold 11,036 shares of Facebook stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $183.44, for a total transaction of $2,024,443.84. Following the sale, the chief financial officer now owns 19,477 shares in the company, valued at $3,572,860.88. The disclosure for this sale can be found here. Insiders have sold a total of 4,555,764 shares of company stock worth $843,798,351 over the last ninety days. 14.53% of the stock is currently owned by insiders.
Several analysts have weighed in on FB shares. SunTrust Banks lifted their price objective on shares of Facebook from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “hold” rating and issued a $205.00 price objective (up previously from $180.00) on shares of Facebook in a research note on Monday, October 28th. They noted that the move was a valuation call. Deutsche Bank lifted their price objective on shares of Facebook from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. They noted that the move was a valuation call. Summit Redstone began coverage on shares of Facebook in a research note on Friday, September 27th. They issued a “buy” rating for the company. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $270.00 target price (up from $260.00) on shares of Facebook in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-one have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $228.33.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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