First Manhattan Co. Reduces Holdings in Facebook Inc (FB)

First Manhattan Co. reduced its holdings in shares of Facebook Inc (NASDAQ:FB) by 41.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,406 shares of the social networking company’s stock after selling 9,456 shares during the period. First Manhattan Co.’s holdings in Facebook were worth $2,290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. D. Scott Neal Inc. grew its holdings in Facebook by 1,358.0% during the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after acquiring an additional 679 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in shares of Facebook in the 2nd quarter valued at $138,000. Vigilant Capital Management LLC boosted its holdings in shares of Facebook by 17.8% in the 2nd quarter. Vigilant Capital Management LLC now owns 991 shares of the social networking company’s stock valued at $150,000 after buying an additional 150 shares in the last quarter. Odey Holdings AG boosted its holdings in shares of Facebook by 5.4% in the 2nd quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock valued at $160,000 after buying an additional 54 shares in the last quarter. Finally, Almanack Investment Partners LLC. acquired a new position in shares of Facebook in the 2nd quarter valued at $165,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

In other Facebook news, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $175.20, for a total value of $2,803,200.00. Following the completion of 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 the SEC website. Also, Director Peter Thiel sold 160,805 shares of Facebook stock in a transaction on Monday, November 20th. The stock was sold at an average price of $178.90, for a total transaction of $28,768,014.50. Following the completion of the transaction, the director now directly owns 6,311 shares of the company’s stock, valued at approximately $1,129,037.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,182,199 shares of company stock valued at $752,724,430. Insiders own 17.23% of the company’s stock.

Several research analysts have recently issued reports on FB shares. Credit Suisse Group restated a “buy” rating on shares of Facebook in a report on Wednesday, October 11th. Vetr upgraded shares of Facebook from a “buy” rating to a “strong-buy” rating and set a $210.43 price target for the company in a research note on Wednesday. UBS Group set a $208.00 price target on shares of Facebook and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Wedbush set a $225.00 price target on shares of Facebook and gave the stock a “buy” rating in a research note on Monday, October 30th. Finally, Deutsche Bank reiterated a “buy” rating on shares of Facebook in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, forty-two have assigned a buy rating and three have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $203.72.

Shares of Facebook Inc (FB) opened at $179.37 on Friday. The stock has a market cap of $521,210.00, a price-to-earnings ratio of 33.34, a P/E/G ratio of 1.07 and a beta of 0.68. Facebook Inc has a 12 month low of $126.78 and a 12 month high of $188.90.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.31. The business had revenue of $10.33 billion during 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%. The business’s revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 earnings per share. sell-side analysts forecast that Facebook Inc will post 5.86 earnings per share for the current fiscal year.

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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.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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