Connor Clark & Lunn Investment Management Ltd. trimmed its stake in Facebook, Inc. (NASDAQ:FB) by 56.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 284,200 shares of the social networking company’s stock after selling 371,150 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Facebook were worth $55,226,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Cribstone Capital Management LLC lifted its stake in shares of Facebook by 186.2% in the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock valued at $121,000 after buying an additional 406 shares in the last quarter. IMA Wealth Inc. bought a new position in shares of Facebook in the second quarter valued at $122,000. Trust Department MB Financial Bank N A bought a new position in shares of Facebook in the second quarter valued at $134,000. Northwest Wealth Management LLC bought a new position in shares of Facebook in the second quarter valued at $194,000. Finally, GenWealth Group Inc. bought a new position in shares of Facebook in the second quarter valued at $200,000. Institutional investors and hedge funds own 60.30% of the company’s stock.
FB has been the topic of a number of recent research reports. JPMorgan Chase & Co. reaffirmed a “$210.91” rating and issued a $242.00 price objective on shares of Facebook in a research note on Monday, July 23rd. Nomura assumed coverage on shares of Facebook in a research report on Tuesday, July 10th. They set a “buy” rating and a $228.00 price target on the stock. Morgan Stanley raised their price target on shares of Facebook from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. Stifel Nicolaus raised their price target on shares of Facebook from $202.00 to $242.00 and gave the company a “buy” rating in a research report on Friday, July 20th. Finally, Zacks Investment Research raised shares of Facebook from a “hold” rating to a “buy” rating and set a $232.00 price target on the stock in a research report on Tuesday, July 17th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $194.54.
Shares of FB stock opened at $150.35 on Friday. The stock has a market capitalization of $424.77 billion, a price-to-earnings ratio of 24.41, a P/E/G ratio of 0.93 and a beta of 0.42. Facebook, Inc. has a 52 week low of $139.03 and a 52 week high of $218.62.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.46 by $0.30. The business had revenue of $13.73 billion for the quarter, compared to analyst estimates of $13.82 billion. Facebook had a net margin of 37.57% and a return on equity of 28.18%. The company’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 earnings per share. On average, equities analysts forecast that Facebook, Inc. will post 7.15 EPS for the current year.
In other news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $184.98, for a total value of $138,735.00. Following the completion of the transaction, the vice president now owns 86,365 shares in the company, valued at $15,975,797.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David B. Fischer sold 2,648 shares of Facebook stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $148.39, for a total transaction of $392,936.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,416,282 shares of company stock worth $603,782,983. Insiders own 17.23% of the company’s stock.
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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