Investec Asset Management PTY Ltd bought a new stake in Facebook, Inc. (NASDAQ:FB) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,680 shares of the social networking company’s stock, valued at approximately $524,000.
A number of other large investors have also recently modified their holdings of the stock. Arcadia Investment Management Corp MI raised its holdings in Facebook by 20.0% in the 1st quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after acquiring an additional 120 shares during the period. Cohen Capital Management Inc. bought a new position in Facebook in the 1st quarter valued at about $121,000. Cable Hill Partners LLC raised its holdings in Facebook by 9.5% in the 1st quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock valued at $129,000 after acquiring an additional 79 shares during the period. Viking Fund Management LLC bought a new position in Facebook in the 1st quarter valued at about $142,000. Finally, State of Alaska Department of Revenue bought a new position in Facebook in the 1st quarter valued at about $180,000. Institutional investors and hedge funds own 57.26% of the company’s stock.
Several research analysts have weighed in on FB shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $180.00 price target on shares of Facebook in a report on Sunday, May 28th. Vetr raised shares of Facebook from a “hold” rating to a “buy” rating and set a $157.52 price target on the stock in a report on Wednesday, May 31st. Instinet reissued a “buy” rating on shares of Facebook in a report on Friday, June 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $185.00 target price on shares of Facebook in a report on Saturday, June 3rd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $165.00 target price on shares of Facebook in a report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have issued a buy rating and three have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $185.53.
Shares of Facebook, Inc. (NASDAQ FB) opened at 170.54 on Friday. The stock has a market cap of $495.28 billion, a PE ratio of 38.17 and a beta of 0.76. The firm’s 50-day moving average is $170.12 and its 200 day moving average is $154.54. Facebook, Inc. has a 12 month low of $113.55 and a 12 month high of $175.49.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The business had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the previous year, the business posted $0.97 earnings per share. The business’s revenue was up 44.8% compared to the same quarter last year. On average, equities analysts predict that Facebook, Inc. will post $5.33 EPS for the current year.
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In other news, VP David B. Fischer sold 50,533 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $169.95, for a total transaction of $8,588,083.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $152.89, for a total transaction of $114,667.50. Following the sale, the vice president now directly owns 86,906 shares of the company’s stock, valued at $13,287,058.34. The disclosure for this sale can be found here. Insiders have sold 12,948,842 shares of company stock worth $2,121,156,283 in the last quarter. Company insiders own 19.08% of the company’s stock.
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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