Community Capital Management Inc. lowered its stake in Facebook, Inc. (NASDAQ:FB) by 12.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,000 shares of the social networking company’s stock after selling 1,611 shares during the period. Facebook makes up approximately 3.8% of Community Capital Management Inc.’s investment portfolio, making the stock its 6th biggest position. Community Capital Management Inc.’s holdings in Facebook were worth $2,881,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Watson Rebecca purchased a new position in shares of Facebook during the second quarter valued at approximately $25,000. JJJ Advisors Inc. boosted its position in shares of Facebook by 262.5% during the second quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock valued at $33,000 after buying an additional 105 shares during the period. Demars Financial Group LLC purchased a new position in shares of Facebook during the second quarter valued at approximately $39,000. Virtus Alternative Investment Advisers Inc. purchased a new position in shares of Facebook during the second quarter valued at approximately $47,000. Finally, Center for Financial Planning Inc. boosted its position in shares of Facebook by 33.9% during the second quarter. Center for Financial Planning Inc. now owns 257 shares of the social networking company’s stock valued at $58,000 after buying an additional 65 shares during the period. Institutional investors own 65.31% of the company’s stock.
FB has been the subject of several recent analyst reports. Barclays boosted their target price on Facebook from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Royal Bank of Canada boosted their price objective on shares of Facebook from $271.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 31st. MKM Partners upped their price target on shares of Facebook from $240.00 to $290.00 in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Facebook from $305.00 to $325.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Finally, Jefferies Financial Group set a $310.00 price objective on shares of Facebook and gave the company a “buy” rating in a report on Wednesday, September 23rd. One 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 given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $283.11.
In other Facebook news, VP Jennifer Newstead sold 194 shares of the stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $246.22, for a total transaction of $47,766.68. Following the sale, the vice president now directly owns 2,112 shares of the company’s stock, valued at $520,016.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Susan J.S. Taylor sold 1,133 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $261.39, for a total transaction of $296,154.87. Following the sale, the chief accounting officer now directly owns 4,182 shares in the company, valued at $1,093,132.98. The disclosure for this sale can be found here. Insiders sold 34,023 shares of company stock worth $9,420,337 over the last ninety days. 14.14% of the stock is currently owned by corporate insiders.
Shares of FB stock opened at $265.93 on Friday. The company has a market capitalization 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 firm has a fifty day simple moving average of $268.73 and a 200-day simple moving average of $234.17. Facebook, Inc. has a twelve month low of $137.10 and a twelve month high of $304.67.
Facebook (NASDAQ:FB) last announced 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 during the quarter, compared to the consensus estimate of $17.29 billion. Facebook had a net margin of 31.29% and a return on equity of 22.90%. As a group, research analysts forecast that Facebook, Inc. will post 8.11 EPS for the current fiscal year.
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.
Featured Story: How to trade on quiet period expirations
Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.