Ocean Capital Management LLC lessened its stake in shares of Facebook, Inc. (NASDAQ:FB) by 23.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,100 shares of the social networking company’s stock after selling 630 shares during the quarter. Ocean Capital Management LLC’s holdings in Facebook were worth $405,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FB. Oregon Public Employees Retirement Fund boosted its position in shares of Facebook by 13,908.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 70,768,412 shares of the social networking company’s stock worth $540,000 after purchasing an additional 70,263,213 shares in the last quarter. Thoroughbred Financial Services LLC boosted its position in shares of Facebook by 19,805.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 2,264,083 shares of the social networking company’s stock worth $226,408,000 after purchasing an additional 2,252,709 shares in the last quarter. Investec Asset Management LTD boosted its position in shares of Facebook by 5,632.6% in the 2nd quarter. Investec Asset Management LTD now owns 2,182,413 shares of the social networking company’s stock worth $421,206,000 after purchasing an additional 2,144,343 shares in the last quarter. Sanders Capital LLC boosted its position in shares of Facebook by 132.5% in the 4th quarter. Sanders Capital LLC now owns 3,564,800 shares of the social networking company’s stock worth $522,620,000 after purchasing an additional 2,031,500 shares in the last quarter. Finally, Flossbach Von Storch AG boosted its position in shares of Facebook by 49.5% in the 4th quarter. Flossbach Von Storch AG now owns 4,139,622 shares of the social networking company’s stock worth $542,663,000 after purchasing an additional 1,370,767 shares in the last quarter. 62.11% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ FB traded up $1.11 during trading on Friday, reaching $183.70. 12,654,600 shares of the company traded hands, compared to its average volume of 17,575,930. The firm’s fifty day simple moving average is $194.93 and its 200 day simple moving average is $180.55. The stock has a market cap of $524.09 billion, a P/E ratio of 24.27, a PEG ratio of 1.05 and a beta of 0.99. Facebook, Inc. has a 12-month low of $123.02 and a 12-month high of $208.66. The company has a current ratio of 4.47, a quick ratio of 4.47 and a debt-to-equity ratio of 0.08.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.09. The business had revenue of $16.89 billion during the quarter, compared to analyst estimates of $16.49 billion. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The company’s revenue was up 27.6% on a year-over-year basis. During the same quarter last year, the business posted $1.74 EPS. As a group, research analysts expect that Facebook, Inc. will post 7.96 EPS for the current year.
In related news, insider Susan J.S. Taylor sold 1,472 shares of Facebook stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $181.89, for a total value of $267,742.08. Following the completion of the transaction, the insider now owns 569 shares in the company, valued at approximately $103,495.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO David B. Fischer sold 5,501 shares of Facebook stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $196.84, for a total value of $1,082,816.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 863,283 shares of company stock valued at $160,819,836. 14.53% of the stock is owned by company insiders.
A number of analysts have recently weighed in on the company. Argus raised their price objective on Facebook from $206.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. ValuEngine cut Facebook from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Raymond James raised their price objective on Facebook from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. They noted that the move was a valuation call. UBS Group reissued a “buy” rating and issued a $240.00 price objective on shares of Facebook in a research report on Thursday, July 25th. Finally, Oppenheimer raised their target price on Facebook from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $220.92.
Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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