William Blair Investment Management LLC cut its position in shares of Facebook, Inc. (NASDAQ:FB) by 21.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 285,982 shares of the social networking company’s stock after selling 76,144 shares during the quarter. William Blair Investment Management LLC’s holdings in Facebook were worth $78,119,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Flagship Private Wealth LLC purchased a new stake in Facebook in the fourth quarter valued at approximately $25,000. Horan Capital Advisors LLC. purchased a new stake in Facebook during the third quarter worth approximately $26,000. DB Wealth Management Group LLC purchased a new stake in Facebook during the fourth quarter worth approximately $27,000. Klaas Financial Asset Advisors LLC purchased a new stake in Facebook during the fourth quarter worth approximately $27,000. Finally, Litman Gregory Asset Management LLC purchased a new stake in Facebook during the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 64.95% of the company’s stock.
In related news, CAO Susan J.S. Taylor sold 2,707 shares of the stock in a transaction dated Thursday, February 18th. The shares were sold at an average price of $269.47, for a total value of $729,455.29. Following the completion of the transaction, the chief accounting officer now owns 3,147 shares in the company, valued at approximately $848,022.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 44,750 shares of the stock in a transaction dated Friday, January 15th. The shares were sold at an average price of $251.61, for a total transaction of $11,259,547.50. The disclosure for this sale can be found here. Insiders sold a total of 1,384,833 shares of company stock valued at $374,590,627 in the last quarter. 14.14% of the stock is currently owned by insiders.
Facebook stock opened at $260.33 on Tuesday. The company has a 50-day simple moving average of $265.35 and a 200-day simple moving average of $270.40. The firm has a market capitalization of $741.33 billion, a P/E ratio of 29.65, a P/E/G ratio of 1.29 and a beta of 1.18. Facebook, Inc. has a one year low of $137.10 and a one year high of $304.67.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, January 27th. The social networking company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.24 by $0.64. The business had revenue of $28.10 million during the quarter, compared to analyst estimates of $26.43 billion. Facebook had a net margin of 32.00% and a return on equity of 23.27%. The company’s quarterly revenue was up 33.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.56 earnings per share. As a group, research analysts expect that Facebook, Inc. will post 9.39 earnings per share for the current year.
A number of research analysts have recently commented on the stock. Pivotal Research boosted their target price on shares of Facebook from $315.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, January 28th. Raymond James boosted their target price on shares of Facebook from $320.00 to $360.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 28th. BMO Capital Markets boosted their target price on shares of Facebook from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, January 28th. Mizuho reissued a “buy” rating and set a $350.00 target price on shares of Facebook in a research report on Thursday, January 28th. Finally, MKM Partners upped their price target on shares of Facebook from $330.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, January 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $323.98.
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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