Brown Advisory Inc. cut its stake in Facebook Inc. (NASDAQ:FB) by 4.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,421,561 shares of the social networking company’s stock after selling 310,726 shares during the period. Facebook makes up about 2.6% of Brown Advisory Inc.’s investment portfolio, making the stock its 3rd largest position. Brown Advisory Inc. owned 0.22% of Facebook worth $733,855,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stelac Advisory Services LLC purchased a new position in shares of Facebook during the first quarter valued at $106,000. Bartlett & Co. LLC boosted 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 valued at $128,000 after buying an additional 91 shares in the last quarter. Kings Point Capital Management boosted 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 valued at $136,000 after buying an additional 200 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted 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 valued at $140,000 after buying an additional 18 shares in the last quarter. Finally, Gradient Investments LLC boosted 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 valued at $156,000 after buying an additional 275 shares in the last quarter. 56.61% of the stock is owned by institutional investors.
Shares of Facebook Inc. (NASDAQ:FB) opened at 128.27 on Friday. The firm has a market cap of $368.35 billion, a P/E ratio of 61.31 and a beta of 0.76. Facebook Inc. has a 12 month low of $89.37 and a 12 month high of $131.98. The company’s 50-day moving average price is $126.92 and its 200-day moving average price is $119.10.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 27th. The social networking company reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.15. Facebook had a net margin of 27.07% and a return on equity of 14.38%. The business earned $6.44 billion during the quarter, compared to the consensus estimate of $6 billion. During the same quarter last year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was up 59.2% on a year-over-year basis. On average, analysts predict that Facebook Inc. will post $3.94 EPS for the current year.
Several research analysts recently weighed in on FB shares. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $136.45 target price for the company in a research note on Monday, September 12th. Societe Generale set a $80.00 target price on Facebook and gave the company a “sell” rating in a report on Thursday, July 7th. Robert W. Baird raised Facebook to a “buy” rating in a report on Monday, July 18th. Citigroup Inc. upped their target price on Facebook from $148.00 to $158.00 and gave the company a “buy” rating in a report on Monday, September 19th. Finally, Jefferies Group set a $170.00 target price on Facebook and gave the company a “buy” rating in a report on Thursday, August 4th. Two 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 given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $149.79.
In related news, Director Jan Koum sold 1,721,436 shares of the firm’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $118.13, for a total transaction of $203,353,234.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Sheryl Sandberg sold 109,000 shares of the firm’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 transaction of $12,372,590.00. Following the sale, the chief operating officer now directly owns 4,753,248 shares of the company’s stock, valued at approximately $539,541,180.48. The disclosure for this sale can be found here. Company insiders own 19.08% of the company’s stock.
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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