Boston Trust Walden Corp increased its stake in shares of Facebook, Inc. (NASDAQ:FB) by 2,463.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,023 shares of the social networking company’s stock after purchasing an additional 122,067 shares during the quarter. Boston Trust Walden Corp’s holdings in Facebook were worth $33,267,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Breiter Capital Management Inc. lifted its stake in shares of Facebook by 8.8% during the 3rd quarter. Breiter Capital Management Inc. now owns 1,615 shares of the social networking company’s stock worth $423,000 after purchasing an additional 130 shares during the last quarter. Goodwin Daniel L purchased a new stake in Facebook in the third quarter valued at about $405,000. Legacy Private Trust Co. raised its stake in Facebook by 3.7% in the third quarter. Legacy Private Trust Co. now owns 26,562 shares of the social networking company’s stock valued at $6,956,000 after buying an additional 952 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its stake in Facebook by 1.1% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 236,758 shares of the social networking company’s stock valued at $62,007,000 after buying an additional 2,601 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in Facebook in the third quarter valued at about $3,899,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.
In related news, VP Jennifer Newstead sold 426 shares of Facebook stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $295.54, for a total transaction of $125,900.04. Following the transaction, the vice president now owns 4,286 shares in the company, valued at $1,266,684.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Susan J.S. Taylor sold 1,133 shares of Facebook stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $261.39, for a total value of $296,154.87. Following the transaction, the chief accounting officer now owns 4,182 shares in the company, valued at approximately $1,093,132.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,023 shares of company stock worth $9,420,337. 14.14% of the stock is currently owned by company insiders.
A number of research firms have commented on FB. Robert W. Baird increased their price target on Facebook from $240.00 to $300.00 in a research note on Thursday, June 25th. Credit Suisse Group increased their price target on Facebook from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Mizuho increased their price target on Facebook from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Monday, August 10th. KeyCorp initiated coverage on Facebook in a research note on Monday, September 14th. They issued an “overweight” rating and a $330.00 price target for the company. Finally, BMO Capital Markets increased their price objective on Facebook from $220.00 to $225.00 and gave the company a “market perform” rating in a report on Friday, July 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $283.11.
NASDAQ FB opened at $265.93 on Friday. The company has a market cap of $757.59 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 1.80 and a beta of 1.29. The stock’s 50 day simple moving average is $268.73 and its 200-day simple moving average is $234.17. Facebook, Inc. has a 1-year low of $137.10 and a 1-year high of $304.67.
Facebook (NASDAQ:FB) last released its earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.36. The business had revenue of $18.69 billion for the quarter, compared to the consensus estimate of $17.29 billion. Facebook had a return on equity of 22.90% and a net margin of 31.29%. Research analysts forecast that Facebook, Inc. will post 8.11 EPS for the current fiscal year.
Facebook Company Profile
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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