Prudential Financial Inc. lessened its holdings in shares of Facebook Inc (NASDAQ:FB) by 7.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,721,338 shares of the social networking company’s stock after selling 451,601 shares during the period. Facebook comprises approximately 1.3% of Prudential Financial Inc.’s holdings, making the stock its 6th largest holding. Prudential Financial Inc. owned about 0.20% of Facebook worth $863,807,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Harbour Capital Advisors LLC raised its holdings in Facebook by 15,047.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,540,691 shares of the social networking company’s stock worth $16,828,000 after acquiring an additional 2,523,918 shares during the last quarter. State Street Corp raised its holdings in Facebook by 1.7% in the 1st quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock worth $13,262,607,000 after acquiring an additional 1,536,158 shares during the last quarter. HPM Partners LLC purchased a new position in Facebook in the 1st quarter worth approximately $195,602,000. Jennison Associates LLC raised its holdings in Facebook by 6.4% in the 2nd quarter. Jennison Associates LLC now owns 20,336,932 shares of the social networking company’s stock worth $3,070,470,000 after acquiring an additional 1,219,412 shares during the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt raised its holdings in Facebook by 131.8% in the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,970,000 shares of the social networking company’s stock worth $279,838,000 after acquiring an additional 1,120,000 shares during the last quarter. Institutional investors own 57.86% of the company’s stock.
FB has been the subject of several analyst reports. Mizuho restated a “buy” rating on shares of Facebook in a research note on Monday, August 7th. MKM Partners reaffirmed a “buy” rating and issued a $200.00 target price (up previously from $180.00) on shares of Facebook in a report on Monday, August 7th. Pivotal Research downgraded shares of Facebook from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded shares of Facebook from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, Cowen reissued an “outperform” rating and set a $195.00 price objective on shares of Facebook in a report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, forty-two have issued a buy rating and three have issued a strong buy rating to the company’s stock. Facebook has an average rating of “Buy” and a consensus target price of $199.18.
Facebook Inc (FB) traded up $1.36 on Tuesday, reaching $172.83. 20,169,411 shares of the company were exchanged, compared to its average volume of 16,932,068. The firm has a market capitalization of $502,700.00, a price-to-earnings ratio of 33.74, a PEG ratio of 1.11 and a beta of 0.69. Facebook Inc has a 52-week low of $114.77 and a 52-week high of $184.25.
Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.31. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $9.84 billion. During the same period in the previous year, the business posted $1.09 EPS. Facebook’s revenue was up 47.3% on a year-over-year basis. analysts forecast that Facebook Inc will post 5.86 EPS for the current fiscal year.
In other Facebook news, CEO Mark Zuckerberg sold 247,147 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $171.96, for a total value of $42,499,398.12. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher K. Cox sold 16,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $171.13, for a total transaction of $2,738,080.00. Following the completion of the sale, the insider now directly owns 194,666 shares in the company, valued at $33,313,192.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,195,022 shares of company stock worth $924,578,276. Company insiders own 17.23% of the company’s stock.
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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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