Parthenon LLC Takes $8.13 Million Position in Facebook, Inc. (FB)

Parthenon LLC bought a new stake in Facebook, Inc. (NASDAQ:FB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 41,835 shares of the social networking company’s stock, valued at approximately $8,129,000. Facebook comprises about 1.9% of Parthenon LLC’s investment portfolio, making the stock its 17th largest position.

A number of other institutional investors also recently bought and sold shares of FB. Cribstone Capital Management LLC grew 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 worth $121,000 after acquiring an additional 406 shares in the last quarter. IMA Wealth Inc. acquired a new position in shares of Facebook in the second quarter worth $122,000. Trust Department MB Financial Bank N A acquired a new position in shares of Facebook in the second quarter worth $134,000. Northwest Wealth Management LLC purchased a new stake in shares of Facebook during the 2nd quarter worth $194,000. Finally, AJ Wealth Strategies LLC purchased a new stake in shares of Facebook during the 2nd quarter worth $216,000. Hedge funds and other institutional investors own 60.25% of the company’s stock.

Shares of FB opened at $150.35 on Monday. Facebook, Inc. has a twelve month low of $139.03 and a twelve month high of $218.62. The stock 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 issued its earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $13.82 billion. During the same period in the prior year, the business posted $1.59 earnings per share. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year. Equities analysts anticipate that Facebook, Inc. will post 7.3 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on the stock. ValuEngine raised shares of Facebook from a “sell” rating to a “hold” rating in a research report on Friday. Argus reduced their target price on shares of Facebook from $210.00 to $206.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley reduced their target price on shares of Facebook from $175.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 31st. Raymond James reduced their target price on shares of Facebook from $210.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, October 31st. Finally, Rosenblatt Securities set a $206.00 target price on shares of Facebook and gave the company a “buy” rating in a report on Wednesday, October 31st. Three investment 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 stock. Facebook presently has a consensus rating of “Buy” and an average target price of $194.54.

In related news, insider Christopher K. Cox sold 10,600 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $180.98, for a total transaction of $1,918,388.00. Following the transaction, the insider now owns 99,573 shares of the company’s stock, valued at $18,020,721.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher K. Cox sold 5,300 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $171.28, for a total transaction of $907,784.00. Following the transaction, the insider now directly owns 134,737 shares in the company, valued at approximately $23,077,753.36. The disclosure for this sale can be found here. Insiders sold 3,198,282 shares of company stock worth $563,873,723 in the last ninety days. Insiders own 16.25% of the company’s stock.

Facebook 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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