First Personal Financial Services increased its position in Facebook Inc. (NASDAQ:FB) by 275.1% during the second quarter, Holdings Channel reports. The fund owned 2,363 shares of the social networking company’s stock after buying an additional 1,733 shares during the period. First Personal Financial Services’ holdings in Facebook were worth $270,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in FB. Stelac Advisory Services LLC acquired a new position in shares of Facebook during the first quarter worth about $106,000. Bartlett & Co. LLC raised its position in shares of Facebook by 8.9% in the second quarter. Bartlett & Co. LLC now owns 1,116 shares of the social networking company’s stock worth $128,000 after buying an additional 91 shares during the period. Kings Point Capital Management raised its position in shares of Facebook by 20.1% in the first quarter. Kings Point Capital Management now owns 1,193 shares of the social networking company’s stock worth $136,000 after buying an additional 200 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in shares of Facebook by 1.5% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,230 shares of the social networking company’s stock worth $140,000 after buying an additional 18 shares during the period. Finally, Gradient Investments LLC raised its position in shares of Facebook by 25.2% in the second quarter. Gradient Investments LLC now owns 1,365 shares of the social networking company’s stock worth $156,000 after buying an additional 275 shares during the period. Institutional investors and hedge funds own 56.61% of the company’s stock.
Shares of Facebook Inc. (NASDAQ:FB) traded down 0.77% on Thursday, hitting $128.23. 5,207,972 shares of the company’s stock were exchanged. Facebook Inc. has a 12 month low of $88.36 and a 12 month high of $131.98. The stock’s 50 day moving average is $126.73 and its 200 day moving average is $118.90. The firm has a market cap of $368.23 billion, a P/E ratio of 61.30 and a beta of 0.76.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.82 by $0.15. The business had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6 billion. Facebook had a net margin of 27.07% and a return on equity of 14.38%. The company’s revenue for the quarter was up 59.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 earnings per share. On average, equities analysts predict that Facebook Inc. will post $3.94 earnings per share for the current year.
A number of equities analysts have issued reports on the company. Cowen and Company reaffirmed an “outperform” rating and set a $150.00 price target on shares of Facebook in a research note on Monday. Jefferies Group reaffirmed a “buy” rating and set a $170.00 price target on shares of Facebook in a research note on Monday, August 22nd. Vetr lowered Facebook from a “buy” rating to a “hold” rating and set a $131.43 price target for the company. in a research note on Monday, August 29th. Citigroup Inc. increased their price target on Facebook from $148.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, September 19th. Finally, William Blair reissued an “outperform” rating on shares of Facebook in a research note on Sunday, September 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, forty-four have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $149.79.
In other news, COO Sheryl Sandberg sold 109,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $113.51, for a total value of $12,372,590.00. Following the sale, the chief operating officer now owns 4,753,248 shares of the company’s stock, valued at $539,541,180.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Colin Stretch sold 400 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $125.00, for a total transaction of $50,000.00. Following the completion of the sale, the vice president now directly owns 88,940 shares in the company, valued at approximately $11,117,500. The disclosure for this sale can be found here. 19.08% of the stock is currently owned by company insiders.
Facebook Company Profile
Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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