World Asset Management Inc Has $17.74 Million Stock Holdings in Facebook, Inc. (NASDAQ:FB)

World Asset Management Inc cut its stake in shares of Facebook, Inc. (NASDAQ:FB) by 3.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,009 shares of the social networking company’s stock after selling 1,872 shares during the quarter. Facebook makes up approximately 1.6% of World Asset Management Inc’s holdings, making the stock its 4th biggest position. World Asset Management Inc’s holdings in Facebook were worth $17,736,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in FB. McNaughton Wealth Management LLC raised its stake in shares of Facebook by 2.8% in the second quarter. McNaughton Wealth Management LLC now owns 1,048 shares of the social networking company’s stock worth $364,000 after purchasing an additional 29 shares during the last quarter. Tranquilli Financial Advisor LLC raised its stake in shares of Facebook by 1.7% in the second quarter. Tranquilli Financial Advisor LLC now owns 1,756 shares of the social networking company’s stock worth $611,000 after purchasing an additional 29 shares during the last quarter. KFA Private Wealth Group LLC raised its stake in shares of Facebook by 2.0% in the second quarter. KFA Private Wealth Group LLC now owns 1,513 shares of the social networking company’s stock worth $526,000 after purchasing an additional 30 shares during the last quarter. TPG Financial Advisors LLC raised its stake in shares of Facebook by 3.9% in the second quarter. TPG Financial Advisors LLC now owns 802 shares of the social networking company’s stock worth $279,000 after purchasing an additional 30 shares during the last quarter. Finally, Brave Asset Management Inc. raised its stake in shares of Facebook by 2.8% in the second quarter. Brave Asset Management Inc. now owns 1,100 shares of the social networking company’s stock worth $382,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 65.72% of the company’s stock.

FB has been the subject of several recent research reports. Canaccord Genuity lifted their price target on Facebook from $380.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. Zacks Investment Research cut Facebook from a “buy” rating to a “hold” rating and set a $409.00 price target for the company. in a research report on Tuesday, June 29th. Robert W. Baird lifted their price target on Facebook from $340.00 to $390.00 and gave the company an “outperform” rating in a research report on Thursday, July 29th. Piper Sandler restated a “neutral” rating and issued a $385.00 price objective (up from $335.00) on shares of Facebook in a research report on Thursday, July 29th. Finally, Argus boosted their price objective on Facebook from $385.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, June 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Facebook presently has an average rating of “Buy” and an average price target of $403.98.

Shares of FB stock traded down $7.57 on Wednesday, hitting $368.96. The stock had a trading volume of 390,558 shares, compared to its average volume of 17,312,885. The company’s 50 day moving average price is $362.49 and its 200-day moving average price is $328.99. Facebook, Inc. has a 1 year low of $244.13 and a 1 year high of $384.33. The firm has a market capitalization of $1.04 trillion, a P/E ratio of 27.28, a P/E/G ratio of 1.19 and a beta of 1.29.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 28th. The social networking company reported $3.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.03 by $0.58. Facebook had a return on equity of 30.09% and a net margin of 37.17%. Equities analysts forecast that Facebook, Inc. will post 14.1 earnings per share for the current fiscal year.

In other news, CFO David M. Wehner sold 1,545 shares of the company’s stock in a transaction dated Sunday, August 15th. The stock was sold at an average price of $363.18, for a total transaction of $561,113.10. Following the completion of the transaction, the chief financial officer now directly owns 27,321 shares of the company’s stock, valued at approximately $9,922,440.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Susan J.S. Taylor sold 1,378 shares of the company’s stock in a transaction dated Wednesday, August 18th. The stock was sold at an average price of $356.10, for a total value of $490,705.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,506,590 shares of company stock worth $895,659,803. 14.01% of the stock is owned by company insiders.

Facebook Profile

Facebook, Inc operates as a social networking company worldwide. The company engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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