Marshall Wace LLP Cuts Position in Facebook, Inc. (FB)

Marshall Wace LLP reduced its stake in shares of Facebook, Inc. (NASDAQ:FB) by 62.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,523 shares of the social networking company’s stock after selling 43,437 shares during the period. Marshall Wace LLP’s holdings in Facebook were worth $4,005,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FB. Hartford Financial Management Inc. grew its stake in Facebook by 1.1% in the 2nd quarter. Hartford Financial Management Inc. now owns 1,488 shares of the social networking company’s stock worth $224,000 after acquiring an additional 16 shares during the period. Halbert Hargrove Russell LLC grew its stake in Facebook by 0.5% in the 2nd quarter. Halbert Hargrove Russell LLC now owns 3,485 shares of the social networking company’s stock worth $526,000 after acquiring an additional 19 shares during the period. Enterprise Financial Services Corp grew its stake in Facebook by 1.0% in the 1st quarter. Enterprise Financial Services Corp now owns 2,124 shares of the social networking company’s stock worth $302,000 after acquiring an additional 21 shares during the period. Wagner Bowman Management Corp grew its stake in Facebook by 0.5% in the 2nd quarter. Wagner Bowman Management Corp now owns 4,997 shares of the social networking company’s stock worth $754,000 after acquiring an additional 25 shares during the period. Finally, Dumont & Blake Investment Advisors LLC grew its stake in Facebook by 2.1% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 1,470 shares of the social networking company’s stock worth $222,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 57.27% of the company’s stock.

Several analysts have recently issued reports on FB shares. Zacks Investment Research raised shares of Facebook from a “hold” rating to a “buy” rating and set a $202.00 price objective for the company in a research note on Tuesday, November 7th. Aegis boosted their price objective on shares of Facebook from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Citigroup Inc. boosted their price objective on shares of Facebook from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. They noted that the move was a valuation call. UBS AG set a $208.00 price objective on shares of Facebook and gave the company a “buy” rating in a research note on Thursday, November 2nd. Finally, Barclays PLC boosted their price objective on shares of Facebook from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, forty-three have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $197.95.

ILLEGAL ACTIVITY WARNING: This article was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another publication, it was illegally copied and republished in violation of international copyright and trademark law. The original version of this article can be accessed at https://www.dispatchtribunal.com/2017/11/12/marshall-wace-llp-cuts-position-in-facebook-inc-fb.html.

Shares of Facebook, Inc. (NASDAQ FB) opened at $178.46 on Friday. The firm has a market cap of $518,570.53, a PE ratio of 34.39, a P/E/G ratio of 1.14 and a beta of 0.67. Facebook, Inc. has a 12 month low of $113.55 and a 12 month high of $182.90.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.31. The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $9.84 billion. Facebook had a net margin of 41.69% and a return on equity of 23.64%. Facebook’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. research analysts expect that Facebook, Inc. will post 5.81 earnings per share for the current fiscal year.

In other Facebook news, Director Jan Koum sold 2,953,492 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $170.17, for a total value of $502,595,733.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 124,625 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $170.51, for a total transaction of $21,249,808.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,218,261 shares of company stock worth $1,426,368,008. 19.08% of the stock is owned by company insiders.

About Facebook

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.

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

Leave a Reply