Facebook, Inc. (FB) Position Raised by ARK Investment Management LLC

ARK Investment Management LLC boosted its stake in Facebook, Inc. (NASDAQ:FB) by 35.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,138 shares of the social networking company’s stock after purchasing an additional 30,357 shares during the quarter. Facebook comprises about 1.6% of ARK Investment Management LLC’s investment portfolio, making the stock its 21st largest holding. ARK Investment Management LLC’s holdings in Facebook were worth $20,670,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dowling & Yahnke LLC increased its holdings in shares of Facebook by 0.6% in the fourth quarter. Dowling & Yahnke LLC now owns 43,370 shares of the social networking company’s stock worth $7,653,000 after acquiring an additional 270 shares in the last quarter. Winslow Evans & Crocker Inc. increased its holdings in shares of Facebook by 2.2% in the fourth quarter. Winslow Evans & Crocker Inc. now owns 13,094 shares of the social networking company’s stock worth $2,310,000 after acquiring an additional 276 shares in the last quarter. First Hawaiian Bank increased its holdings in shares of Facebook by 11.6% in the fourth quarter. First Hawaiian Bank now owns 2,698 shares of the social networking company’s stock worth $476,000 after acquiring an additional 281 shares in the last quarter. Parsec Financial Management Inc. increased its holdings in shares of Facebook by 0.9% in the fourth quarter. Parsec Financial Management Inc. now owns 31,597 shares of the social networking company’s stock worth $5,576,000 after acquiring an additional 285 shares in the last quarter. Finally, Dimension Capital Management LLC increased its holdings in shares of Facebook by 6.9% in the fourth quarter. Dimension Capital Management LLC now owns 4,440 shares of the social networking company’s stock worth $783,000 after acquiring an additional 287 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

In other news, COO Sheryl Sandberg sold 55,000 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $174.74, for a total value of $9,610,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jan Koum sold 1,263,806 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $183.45, for a total value of $231,845,210.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,137,304 shares of company stock valued at $2,146,256,181. Insiders own 17.23% of the company’s stock.

FB has been the subject of a number of research reports. Canaccord Genuity reiterated a “buy” rating and set a $240.00 price objective (up from $230.00) on shares of Facebook in a report on Thursday, February 1st. Evercore ISI decreased their price objective on Facebook from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, April 10th. BidaskClub upgraded Facebook from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Macquarie reiterated a “buy” rating and set a $200.00 price objective on shares of Facebook in a report on Tuesday, March 20th. Finally, JPMorgan Chase & Co. set a $242.00 price objective on Facebook and gave the stock a “buy” rating in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, forty have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $217.37.

Shares of NASDAQ FB opened at $184.92 on Friday. Facebook, Inc. has a 52 week low of $144.56 and a 52 week high of $195.32. The company has a market cap of $542.94 billion, a P/E ratio of 30.02, a P/E/G ratio of 1.00 and a beta of 0.78.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, April 25th. The social networking company reported $1.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.44. Facebook had a return on equity of 27.74% and a net margin of 40.03%. The company had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $11.41 billion. During the same period last year, the firm posted $1.04 earnings per share. The business’s revenue was up 49.0% on a year-over-year basis. equities analysts predict that Facebook, Inc. will post 7.64 EPS for the current fiscal year.

Facebook Company Profile

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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