Firsthand Capital Management Inc. held its position in shares of Facebook, Inc. (NASDAQ:FB) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,000 shares of the social networking company’s stock at the end of the first quarter. Facebook accounts for approximately 9.1% of Firsthand Capital Management Inc.’s portfolio, making the stock its 3rd largest holding. Firsthand Capital Management Inc.’s holdings in Facebook were worth $8,523,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Arcadia Investment Management Corp MI lifted its holdings 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 last quarter. Cohen Capital Management Inc. bought a new stake in shares of Facebook in the 1st quarter worth approximately $121,000. Cable Hill Partners LLC lifted its holdings 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 last quarter. Viking Fund Management LLC bought a new stake in shares of Facebook in the 1st quarter worth approximately $142,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Facebook in the 1st quarter worth approximately $180,000. Hedge funds and other institutional investors own 57.30% of the company’s stock.
Facebook, Inc. (NASDAQ:FB) traded up 0.453% during trading on Friday, hitting $171.735. The stock had a trading volume of 10,197,637 shares. The stock’s 50-day moving average is $170.07 and its 200 day moving average is $153.55. The firm has a market cap of $498.75 billion, a price-to-earnings ratio of 38.437 and a beta of 0.76. Facebook, Inc. has a one year low of $113.55 and a one year high of $175.49.
Facebook (NASDAQ:FB) last announced its quarterly earnings data 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 business 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%. The business’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 earnings per share. Equities analysts anticipate that Facebook, Inc. will post $5.33 earnings per share for the current year.
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A number of research firms recently commented on FB. Canaccord Genuity reiterated a “buy” rating and set a $175.00 price target on shares of Facebook in a report on Friday, June 16th. Vetr lowered shares of Facebook from a “buy” rating to a “hold” rating and set a $156.06 price target for the company. in a report on Thursday, May 25th. Cantor Fitzgerald set a $180.00 price target on shares of Facebook and gave the company a “buy” rating in a report on Tuesday, June 20th. Robert W. Baird reiterated a “buy” rating and set a $185.00 price target on shares of Facebook in a report on Friday, September 1st. Finally, Moffett Nathanson reiterated a “buy” rating on shares of Facebook in a report on Friday, June 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have given a buy rating and three have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $183.74.
In other Facebook news, insider Michael Todd Schroepfer sold 38,055 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $172.60, for a total transaction of $6,568,293.00. Following the completion of the sale, the insider now owns 533,937 shares of the company’s stock, valued at $92,157,526.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $152.87, for a total value of $114,652.50. Following the sale, the vice president now directly owns 87,656 shares of the company’s stock, valued at approximately $13,399,972.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,109,908 shares of company stock valued at $2,140,922,321. Company insiders own 19.08% of the company’s stock.
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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