Genesee Capital Advisors LLC Buys New Holdings in Facebook, Inc. (NASDAQ:FB)

Genesee Capital Advisors LLC bought a new stake in Facebook, Inc. (NASDAQ:FB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,437 shares of the social networking company’s stock, valued at approximately $1,166,000.

A number of other large investors have also recently modified their holdings of the stock. FMR LLC raised its holdings in Facebook by 1.7% in the second quarter. FMR LLC now owns 127,113,861 shares of the social networking company’s stock valued at $44,198,761,000 after acquiring an additional 2,129,463 shares in the last quarter. State Street Corp raised its holdings in Facebook by 0.3% during the second quarter. State Street Corp now owns 92,196,339 shares of the social networking company’s stock worth $32,057,589,000 after purchasing an additional 319,155 shares in the last quarter. Geode Capital Management LLC raised its holdings in Facebook by 2.7% during the second quarter. Geode Capital Management LLC now owns 38,810,686 shares of the social networking company’s stock worth $13,454,374,000 after purchasing an additional 1,030,274 shares in the last quarter. Invesco Ltd. raised its holdings in Facebook by 3.5% during the second quarter. Invesco Ltd. now owns 16,965,024 shares of the social networking company’s stock worth $5,898,907,000 after purchasing an additional 578,836 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Facebook by 5.4% during the second quarter. Legal & General Group Plc now owns 14,537,054 shares of the social networking company’s stock worth $5,054,681,000 after purchasing an additional 742,330 shares in the last quarter. 65.74% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of Facebook from a “buy” rating to a “hold” rating and set a $409.00 price objective on the stock. in a report on Wednesday, September 29th. Jefferies Financial Group set a $420.00 target price on shares of Facebook and gave the stock a “buy” rating in a research report on Tuesday, October 26th. Tigress Financial raised their target price on shares of Facebook from $430.00 to $466.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 13th. JPMorgan Chase & Co. set a $390.00 target price on shares of Facebook in a research report on Monday, November 1st. Finally, Wedbush lowered their target price on shares of Facebook from $355.00 to $325.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $398.00.

In other news, CAO Susan J.S. Taylor sold 1,378 shares of the business’s stock in a transaction dated Wednesday, November 17th. The stock was sold at an average price of $344.22, for a total transaction of $474,335.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 52,700 shares of the business’s stock in a transaction dated Wednesday, October 27th. The stock was sold at an average price of $314.91, for a total value of $16,595,757.00. The disclosure for this sale can be found here. Insiders sold a total of 1,893,113 shares of company stock valued at $660,001,361 in the last 90 days. 14.01% of the stock is owned by company insiders.

Shares of FB stock opened at $341.06 on Thursday. The firm has a 50-day moving average price of $336.80 and a 200 day moving average price of $344.31. Facebook, Inc. has a twelve month low of $244.61 and a twelve month high of $384.33. The company has a market capitalization of $948.75 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 1.22 and a beta of 1.27.

Facebook (NASDAQ:FB) last announced its earnings results on Sunday, October 24th. The social networking company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.03. The firm had revenue of $29.01 billion during the quarter, compared to the consensus estimate of $29.52 billion. Facebook had a net margin of 35.88% and a return on equity of 30.22%. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.71 EPS. On average, sell-side analysts predict that Facebook, Inc. will post 13.96 EPS for the current year.

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Meta Platforms, Inc, (formerly known as Facebook, Inc) operates as a global social technology company. The company engages in the development of social media applications as well as virtual and augmented reality products allowing users to connect through mobile devices, personal computers and other platforms.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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