NewFocus Financial Group LLC bought a new stake in Facebook, Inc. (NASDAQ:FB) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,350 shares of the social networking company’s stock, valued at approximately $334,000.
Other institutional investors also recently modified their holdings of the company. Arcadia Investment Management Corp MI lifted its stake in shares of Facebook by 20.0% in the 1st quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after acquiring an additional 120 shares during the period. Cohen Capital Management Inc. acquired a new stake in shares of Facebook in the 1st quarter worth $121,000. Cable Hill Partners LLC lifted its stake in shares of Facebook by 9.5% in the 1st quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock worth $129,000 after acquiring an additional 79 shares during the period. Viking Fund Management LLC acquired a new stake in shares of Facebook in the 1st quarter worth $142,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Facebook in the 1st quarter worth $180,000. Institutional investors and hedge funds own 57.30% of the company’s stock.
Several research firms have weighed in on FB. BidaskClub upgraded shares of Facebook from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Robert W. Baird restated an “outperform” rating and set a $185.00 target price (up from $163.00) on shares of Facebook in a report on Thursday, July 27th. Mizuho reiterated a “buy” rating on shares of Facebook in a report on Monday, August 7th. MKM Partners reiterated a “buy” rating and set a $200.00 price target (up from $180.00) on shares of Facebook in a report on Monday, August 7th. Finally, Pivotal Research downgraded shares of Facebook from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have given a buy rating and three have given a strong buy rating to the company’s stock. Facebook has a consensus rating of “Buy” and an average price target of $183.74.
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In related news, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $152.35, for a total transaction of $2,437,600.00. Following the completion of the sale, the insider now owns 194,765 shares of the company’s stock, valued at $29,672,447.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $173.58, for a total value of $130,185.00. Following the sale, the vice president now directly owns 94,091 shares of the company’s stock, valued at approximately $16,332,315.78. The disclosure for this sale can be found here. Insiders have sold 13,109,908 shares of company stock valued at $2,140,922,321 over the last ninety days. 19.08% of the stock is currently owned by company insiders.
Facebook, Inc. (FB) traded up 0.40% on Friday, hitting $171.64. The company’s stock had a trading volume of 15,660,539 shares. The firm has a 50 day moving average of $170.10 and a 200-day moving average of $153.80. The stock has a market cap of $498.48 billion, a PE ratio of 38.42 and a beta of 0.76. Facebook, Inc. has a 12 month low of $113.55 and a 12 month high of $175.49.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.19. The company had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.19 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. Facebook’s revenue was up 44.8% on a year-over-year basis. During the same period last year, the business posted $0.97 earnings per share. On average, analysts expect that Facebook, Inc. will post $5.33 earnings per share for the current fiscal year.
Facebook Company Profile
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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