Meeder Asset Management Inc. raised its position in shares of Facebook Inc (NASDAQ:FB) by 15.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,900 shares of the social networking company’s stock after purchasing an additional 7,819 shares during the quarter. Facebook accounts for 1.1% of Meeder Asset Management Inc.’s portfolio, making the stock its 8th largest position. Meeder Asset Management Inc.’s holdings in Facebook were worth $10,235,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. D. Scott Neal Inc. raised its holdings in Facebook by 1,358.0% in the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after purchasing an additional 679 shares during the period. Farmers & Merchants Investments Inc. raised its holdings in Facebook by 4.4% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock worth $122,000 after purchasing an additional 34 shares during the period. Mountain Capital Investment Advisors Inc acquired a new position in Facebook in the 2nd quarter worth about $138,000. Vigilant Capital Management LLC raised its holdings in Facebook by 17.8% in the 2nd quarter. Vigilant Capital Management LLC now owns 991 shares of the social networking company’s stock worth $150,000 after purchasing an additional 150 shares during the period. Finally, Odey Holdings AG raised its holdings in shares of Facebook by 5.4% during the second quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock valued at $160,000 after acquiring an additional 54 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.
In related news, insider Christopher K. Cox sold 16,000 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $175.20, for a total transaction of $2,803,200.00. Following the transaction, the insider now owns 172,871 shares of the company’s stock, valued at $30,286,999.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 238,715 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $178.03, for a total value of $42,498,431.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,182,199 shares of company stock worth $752,724,430. Corporate insiders own 17.23% of the company’s stock.
A number of equities analysts have commented on FB shares. Credit Suisse Group reissued a “buy” rating on shares of Facebook in a report on Wednesday, October 11th. Vetr raised Facebook from a “buy” rating to a “strong-buy” rating and set a $210.43 target price for the company in a report on Wednesday. UBS Group set a $208.00 price target on Facebook and gave the company a “buy” rating in a research report on Thursday, November 2nd. Wedbush set a $225.00 price target on Facebook and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, Deutsche Bank restated a “buy” rating on shares of Facebook in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-two have assigned a buy rating and three have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $203.72.
Facebook Inc (NASDAQ FB) traded down $8.40 during trading on Friday, reaching $179.37. The company’s stock had a trading volume of 77,306,900 shares, compared to its average volume of 16,580,000. Facebook Inc has a one year low of $126.78 and a one year high of $188.90. The firm has a market capitalization of $521,210.00, a PE ratio of 33.34, a PEG ratio of 1.07 and a beta of 0.68.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The company had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $9.84 billion. During the same period last year, the firm earned $1.09 earnings per share. Facebook’s quarterly revenue was up 47.3% on a year-over-year basis. equities research analysts predict that Facebook Inc will post 5.86 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: This piece of content was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2018/01/13/meeder-asset-management-inc-has-10-24-million-stake-in-facebook-inc-fb.html.
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.
Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.