HBK Sorce Advisory LLC Raises Stake in Facebook, Inc. (NASDAQ:FB)

HBK Sorce Advisory LLC lifted its position in Facebook, Inc. (NASDAQ:FB) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,865 shares of the social networking company’s stock after acquiring an additional 2,050 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Facebook were worth $7,950,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. McNaughton Wealth Management LLC raised its holdings 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 acquiring an additional 29 shares during the last quarter. Tranquilli Financial Advisor LLC increased its stake in Facebook by 1.7% in the second quarter. Tranquilli Financial Advisor LLC now owns 1,756 shares of the social networking company’s stock valued at $611,000 after purchasing an additional 29 shares during the last quarter. KFA Private Wealth Group LLC increased its stake in 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 valued at $526,000 after purchasing an additional 30 shares during the last quarter. TPG Financial Advisors LLC increased its stake in Facebook by 3.9% in the second quarter. TPG Financial Advisors LLC now owns 802 shares of the social networking company’s stock valued at $279,000 after purchasing an additional 30 shares during the last quarter. Finally, Brave Asset Management Inc. increased its stake in Facebook by 2.8% in the second quarter. Brave Asset Management Inc. now owns 1,100 shares of the social networking company’s stock valued at $382,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 65.72% of the company’s stock.

FB traded down $2.12 during trading hours on Monday, hitting $350.84. The company’s stock had a trading volume of 392,093 shares, compared to its average volume of 17,495,762. Facebook, Inc. has a fifty-two week low of $244.61 and a fifty-two week high of $384.33. The firm has a market capitalization of $989.17 billion, a PE ratio of 25.94, a PEG ratio of 1.11 and a beta of 1.29. The company has a 50-day simple moving average of $364.13 and a 200 day simple moving average of $334.48.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 28th. The social networking company reported $3.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.03 by $0.58. The firm had revenue of $29.08 billion during the quarter, compared to analyst estimates of $27.93 billion. Facebook had a return on equity of 30.09% and a net margin of 37.17%. Equities analysts expect that Facebook, Inc. will post 14.1 earnings per share for the current year.

In other news, VP Jennifer Newstead sold 250 shares of the firm’s stock in a transaction on Tuesday, June 29th. The stock was sold at an average price of $356.49, for a total transaction of $89,122.50. Following the completion of the sale, the vice president now directly owns 8,390 shares of the company’s stock, valued at approximately $2,990,951.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 77,300 shares of the firm’s stock in a transaction on Tuesday, September 21st. The stock was sold at an average price of $357.82, for a total value of $27,659,486.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,500,540 shares of company stock valued at $903,372,931. 14.01% of the stock is currently owned by corporate insiders.

Several equities analysts recently commented on FB shares. Wedbush reiterated a “neutral” rating and issued a $355.00 target price on shares of Facebook in a research note on Thursday, July 29th. Evercore ISI upped their price target on Facebook from $400.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. Truist upped their price target on Facebook from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Thursday, July 29th. Wells Fargo & Company upped their price target on Facebook from $415.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, July 29th. Finally, Jefferies Financial Group upped their price target on Facebook from $425.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, September 17th. They noted that the move was a valuation call. One research 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 issued a strong buy rating to the company. According to MarketBeat.com, Facebook presently has an average rating of “Buy” and a consensus target price of $404.35.

Facebook Company 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.

Further Reading: What is a Call Option?

Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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.