Redmond Asset Management LLC Has $2.09 Million Stake in Facebook, Inc. (NASDAQ:FB)

Redmond Asset Management LLC decreased its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,850 shares of the social networking company’s stock after selling 370 shares during the quarter. Redmond Asset Management LLC’s holdings in Facebook were worth $2,094,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its stake in Facebook by 13,908.0% during 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 acquiring an additional 70,263,213 shares during the last quarter. Thoroughbred Financial Services LLC boosted its stake in Facebook by 19,805.8% during 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 acquiring an additional 2,252,709 shares during the last quarter. Investec Asset Management LTD boosted its stake in Facebook by 5,632.6% during 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 acquiring an additional 2,144,343 shares during the last quarter. Sanders Capital LLC boosted its stake in Facebook by 132.5% during the 4th quarter. Sanders Capital LLC now owns 3,564,800 shares of the social networking company’s stock worth $522,620,000 after acquiring an additional 2,031,500 shares during the last quarter. Finally, Flossbach Von Storch AG boosted its stake in Facebook by 49.5% during 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 acquiring an additional 1,370,767 shares during the last quarter. Institutional investors own 62.11% of the company’s stock.

In other Facebook news, CFO David M. Wehner sold 10,748 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $184.50, for a total value of $1,983,006.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Susan J.S. Taylor sold 1,472 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $181.89, for a total transaction of $267,742.08. Following the completion of the transaction, the insider now owns 569 shares in the company, valued at $103,495.41. The disclosure for this sale can be found here. Over the last quarter, insiders sold 863,283 shares of company stock worth $160,819,836. Corporate insiders own 14.53% of the company’s stock.

FB has been the topic of several recent analyst reports. Canaccord Genuity lifted their price objective on shares of Facebook from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Bank of America set a $224.00 price objective on shares of Facebook and gave the stock a “buy” rating in a research note on Friday, July 19th. Goldman Sachs Group set a $228.00 price objective on shares of Facebook and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Susquehanna Bancshares lifted their price objective on shares of Facebook from $225.00 to $245.00 and gave the stock a “positive” rating in a research note on Thursday, July 25th. Finally, Nomura lifted their price target on shares of Facebook from $226.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and forty-two have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $220.92.

Shares of NASDAQ:FB traded up $1.11 on Friday, hitting $183.70. The company had a trading volume of 12,654,600 shares, compared to its average volume of 17,575,930. Facebook, Inc. has a 1-year low of $123.02 and a 1-year high of $208.66. The stock has a market cap of $524.09 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 1.05 and a beta of 0.99. The stock has a 50 day moving average price of $194.93 and a 200 day moving average price of $180.55. 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.09. Facebook had a net margin of 27.26% and a return on equity of 20.09%. The firm had revenue of $16.89 billion for the quarter, compared to the consensus estimate of $16.49 billion. During the same period in the previous year, the company earned $1.74 earnings per share. The company’s quarterly revenue was up 27.6% on a year-over-year basis. Sell-side analysts anticipate that Facebook, Inc. will post 7.96 earnings per share for the current fiscal year.

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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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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