Facebook, Inc. (NASDAQ:FB) Stake Cut by Cullinan Associates Inc.

Share on StockTwits

Cullinan Associates Inc. decreased its stake in shares of Facebook, Inc. (NASDAQ:FB) by 5.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 125,200 shares of the social networking company’s stock after selling 7,600 shares during the period. Facebook accounts for 1.7% of Cullinan Associates Inc.’s portfolio, making the stock its 6th largest position. Cullinan Associates Inc.’s holdings in Facebook were worth $25,697,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of FB. Nuveen Asset Management LLC lifted its holdings in Facebook by 5,336.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 22,496,340 shares of the social networking company’s stock worth $4,341,794,000 after purchasing an additional 22,082,561 shares in the last quarter. Viking Global Investors LP lifted its holdings in Facebook by 231.7% during the 2nd quarter. Viking Global Investors LP now owns 7,063,705 shares of the social networking company’s stock worth $1,363,295,000 after purchasing an additional 4,934,406 shares in the last quarter. Marshall Wace North America L.P. lifted its holdings in Facebook by 577.3% during the 2nd quarter. Marshall Wace North America L.P. now owns 1,671,746 shares of the social networking company’s stock worth $322,647,000 after purchasing an additional 1,424,922 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Facebook by 32.6% during the 3rd quarter. California Public Employees Retirement System now owns 5,218,412 shares of the social networking company’s stock worth $929,295,000 after purchasing an additional 1,284,127 shares in the last quarter. Finally, Johanson Financial Advisors Inc. lifted its holdings in Facebook by 21,147.8% during the 4th quarter. Johanson Financial Advisors Inc. now owns 1,219,198 shares of the social networking company’s stock worth $5,940,000 after purchasing an additional 1,213,460 shares in the last quarter. 63.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of Facebook stock opened at $221.15 on Thursday. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $624.70 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 1.17 and a beta of 1.05. The business’s 50-day moving average price is $205.75 and its 200-day moving average price is $193.71. Facebook, Inc. has a 12 month low of $142.52 and a 12 month high of $222.38.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.91 by $0.21. Facebook had a return on equity of 20.39% and a net margin of 27.08%. The firm had revenue of $17.65 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same period in the prior year, the company earned $1.76 EPS. The company’s revenue was up 28.6% on a year-over-year basis. As a group, analysts predict that Facebook, Inc. will post 8.48 earnings per share for the current fiscal year.

In related news, CEO Mark Zuckerberg sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $187.62, for a total transaction of $1,407,150.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jennifer Newstead sold 260 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $212.85, for a total value of $55,341.00. Following the transaction, the vice president now owns 1,306 shares in the company, valued at $277,982.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,228,140 shares of company stock worth $233,184,417. 14.53% of the stock is owned by corporate insiders.

A number of analysts recently issued reports on FB shares. Wells Fargo & Co set a $260.00 price objective on Facebook and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets decreased their target price on Facebook from $197.00 to $185.00 and set a “market perform” rating on the stock in a research note on Thursday, October 31st. DZ Bank restated a “buy” rating on shares of Facebook in a research note on Thursday, October 31st. Morgan Stanley upped their target price on Facebook from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Goldman Sachs Group set a $231.00 target price on Facebook and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-six have issued a buy rating and one has issued a strong buy rating to the stock. Facebook currently has an average rating of “Buy” and an average price target of $238.04.

Facebook Profile

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.

Read More: Cash Flow

Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2020 BBNS.