Capital Management Associates NY increased its position in shares of Facebook, Inc. (NASDAQ:FB) by 52.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,272 shares of the social networking company’s stock after purchasing an additional 1,478 shares during the period. Facebook accounts for about 1.0% of Capital Management Associates NY’s holdings, making the stock its 22nd biggest holding. Capital Management Associates NY’s holdings in Facebook were worth $830,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. D.A. Davidson & CO. boosted its stake in Facebook by 6.1% during the second quarter. D.A. Davidson & CO. now owns 65,696 shares of the social networking company’s stock worth $12,766,000 after buying an additional 3,749 shares during the period. Chevy Chase Trust Holdings Inc. purchased a new position in Facebook during the second quarter worth about $394,967,000. Victory Capital Management Inc. boosted its stake in Facebook by 23.0% during the second quarter. Victory Capital Management Inc. now owns 486,350 shares of the social networking company’s stock worth $94,508,000 after buying an additional 90,888 shares during the period. Fiduciary Group LLC boosted its stake in Facebook by 65.2% during the second quarter. Fiduciary Group LLC now owns 18,395 shares of the social networking company’s stock worth $3,575,000 after buying an additional 7,257 shares during the period. Finally, First Trust Advisors LP boosted its stake in Facebook by 8.7% during the second quarter. First Trust Advisors LP now owns 4,776,423 shares of the social networking company’s stock worth $928,155,000 after buying an additional 382,526 shares during the period. Hedge funds and other institutional investors own 60.30% of the company’s stock.
Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Facebook from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 11th. ValuEngine raised shares of Facebook from a “sell” rating to a “hold” rating in a research note on Friday. Raymond James lowered their target price on shares of Facebook from $210.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday. BidaskClub raised shares of Facebook from a “hold” rating to a “buy” rating in a research note on Tuesday, July 17th. Finally, Wedbush reaffirmed an “outperform” rating and set a $275.00 target price on shares of Facebook in a research note on Friday, July 20th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. Facebook currently has an average rating of “Buy” and an average target price of $194.54.
In other Facebook news, CEO Mark Zuckerberg sold 602,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $176.67, for a total transaction of $106,355,340.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $184.98, for a total transaction of $138,735.00. Following the completion of the transaction, the vice president now directly owns 86,365 shares in the company, valued at $15,975,797.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,416,282 shares of company stock worth $603,782,983. 17.23% of the stock is owned by corporate insiders.
FB stock opened at $150.35 on Friday. Facebook, Inc. has a twelve month low of $139.03 and a twelve month high of $218.62. The company has a market cap of $436.77 billion, a price-to-earnings ratio of 24.41, a P/E/G ratio of 0.92 and a beta of 0.55.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.30. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The company had revenue of $13.73 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter last year, the company earned $1.59 earnings per share. The firm’s revenue for the quarter was up 32.9% on a year-over-year basis. Sell-side analysts expect that Facebook, Inc. will post 7.3 EPS for the current year.
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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