State of Tennessee Treasury Department cut its stake in Facebook Inc (NASDAQ:FB) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,761,739 shares of the social networking company’s stock after selling 63,852 shares during the quarter. Facebook comprises about 1.5% of State of Tennessee Treasury Department’s investment portfolio, making the stock its 5th biggest position. State of Tennessee Treasury Department owned 0.06% of Facebook worth $301,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in the company. D. Scott Neal Inc. grew its stake in Facebook by 1,358.0% in the second 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 in the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in Facebook in the second quarter valued at approximately $138,000. Vigilant Capital Management LLC boosted its stake in Facebook by 17.8% in the second quarter. Vigilant Capital Management LLC now owns 991 shares of the social networking company’s stock valued at $150,000 after acquiring an additional 150 shares during the period. Odey Holdings AG boosted its stake in Facebook by 5.4% in 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 period. Finally, Almanack Investment Partners LLC. acquired a new position in Facebook in the second quarter valued at approximately $165,000. 57.80% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. Goldman Sachs Group set a $205.00 price objective on Facebook and gave the stock a “buy” rating in a research report on Friday, October 20th. Morgan Stanley set a $200.00 price objective on Facebook and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Needham & Company LLC boosted their price objective on Facebook from $185.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Wedbush set a $225.00 price objective on Facebook and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, Vetr upgraded Facebook from a “buy” rating to a “strong-buy” rating and set a $202.09 price objective for the company in a research report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the stock. Facebook has a consensus rating of “Buy” and an average price target of $214.57.
Facebook Inc (FB) traded down $9.02 during midday trading on Monday, reaching $181.26. 32,757,395 shares of the company’s stock traded hands, compared to its average volume of 21,650,000. Facebook Inc has a 12-month low of $130.30 and a 12-month high of $195.32. The stock has a market cap of $526,710.00, a PE ratio of 33.63, a price-to-earnings-growth ratio of 1.00 and a beta of 0.58.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, January 31st. The social networking company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.24. Facebook had a net margin of 39.16% and a return on equity of 26.49%. The firm had revenue of $12.97 billion for the quarter, compared to analysts’ expectations of $12.58 billion. research analysts expect that Facebook Inc will post 7.16 earnings per share for the current year.
In related news, VP David B. Fischer sold 5,587 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $187.66, for a total value of $1,048,456.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher K. Cox sold 16,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $180.27, for a total transaction of $2,884,320.00. Following the completion of the sale, the insider now owns 49,816 shares of the company’s stock, valued at $8,980,330.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,564,763 shares of company stock worth $281,520,506. 17.23% of the stock is currently owned by corporate insiders.
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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.
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