Tower Research Capital LLC TRC increased its stake in Facebook, Inc. (NASDAQ:FB) by 1,175.5% in the third quarter, Holdings Channel reports. The institutional investor owned 30,230 shares of the social networking company’s stock after acquiring an additional 27,860 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Facebook were worth $5,384,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of FB. Financial Advantage Inc. bought a new stake in Facebook during the third quarter valued at $28,000. Cordasco Financial Network boosted its holdings in shares of Facebook by 70.0% during the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 70 shares during the period. Shamrock Asset Management LLC acquired a new position in shares of Facebook during the second quarter valued at $38,000. Clean Yield Group acquired a new position in shares of Facebook during the second quarter valued at $39,000. Finally, Litman Gregory Asset Management LLC acquired a new position in shares of Facebook during the second quarter valued at $41,000. Institutional investors and hedge funds own 63.17% of the company’s stock.
Facebook stock traded down $1.23 during midday trading on Monday, hitting $189.61. The company’s stock had a trading volume of 8,632,422 shares, compared to its average volume of 16,739,338. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.09. The stock’s 50-day moving average price is $185.42 and its 200-day moving average price is $187.38. Facebook, Inc. has a 12 month low of $123.02 and a 12 month high of $208.66. The company has a market capitalization of $554.39 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 1.10 and a beta of 1.05.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.91 by $0.21. Facebook had a net margin of 27.08% and a return on equity of 20.39%. The firm had revenue of $17.65 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the previous year, the business earned $1.76 earnings per share. Facebook’s revenue for the quarter was up 28.6% compared to the same quarter last year. As a group, equities analysts anticipate that Facebook, Inc. will post 8.57 EPS for the current year.
Several brokerages have recently issued reports on FB. Jefferies Financial Group reissued a “buy” rating and set a $250.00 price target on shares of Facebook in a report on Thursday, October 31st. KeyCorp boosted their price target on shares of Facebook from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Summit Insights began coverage on shares of Facebook in a report on Friday, September 27th. They set a “buy” rating for the company. UBS Group reduced their price target on shares of Facebook from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Morgan Stanley boosted their price target on shares of Facebook from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and forty-one have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $228.33.
In other Facebook news, CEO Mark Zuckerberg sold 76,484 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $175.34, for a total value of $13,410,704.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO David B. Fischer sold 12,267 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $184.12, for a total transaction of $2,258,600.04. Following the completion of the sale, the executive now owns 48,970 shares in the company, valued at $9,016,356.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,555,764 shares of company stock worth $843,798,351. 14.53% of the stock is owned by company insiders.
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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