Facebook, Inc. (FB) Position Held by Harvey Capital Management Inc.

Harvey Capital Management Inc. continued to hold its stake in shares of Facebook, Inc. (NASDAQ:FB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,800 shares of the social networking company’s stock at the end of the second quarter. Facebook accounts for about 2.6% of Harvey Capital Management Inc.’s investment portfolio, making the stock its 15th largest position. Harvey Capital Management Inc.’s holdings in Facebook were worth $6,159,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FB. Arcadia Investment Management Corp MI raised its position in Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after buying an additional 120 shares in the last quarter. D. Scott Neal Inc. raised its position in Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after buying an additional 679 shares in the last quarter. Cohen Capital Management Inc. purchased a new position in Facebook during the first quarter valued at $121,000. Cable Hill Partners LLC raised its position in Facebook by 9.5% in the first quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock valued at $129,000 after buying an additional 79 shares in the last quarter. Finally, Pacific Center for Financial Services raised its position in Facebook by 10.7% in the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock valued at $129,000 after buying an additional 88 shares in the last quarter. 57.60% of the stock is currently owned by hedge funds and other institutional investors.

Facebook, Inc. (NASDAQ:FB) traded down 2.25% on Thursday, reaching $167.33. The company had a trading volume of 10,937,745 shares. The stock has a market cap of $485.96 billion, a price-to-earnings ratio of 37.45 and a beta of 0.70. Facebook, Inc. has a one year low of $113.55 and a one year high of $175.49. The company has a 50-day moving average of $160.69 and a 200 day moving average of $147.01.

Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.19. The business had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.19 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. Facebook’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 EPS. On average, equities research analysts predict that Facebook, Inc. will post $5.33 EPS for the current year.

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Several equities analysts have recently weighed in on FB shares. Barclays PLC reaffirmed a “neutral” rating on shares of Facebook in a research note on Friday, April 14th. Aegis lifted their price objective on Facebook from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, April 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Facebook in a research note on Monday, April 17th. Credit Suisse Group lifted their price objective on Facebook from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, April 17th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $150.00 price objective on shares of Facebook in a research note on Monday, April 17th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, forty-two have issued a buy rating and three have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $182.00.

In related news, Director Susan Desmond-Hellmann sold 209 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $144.67, for a total transaction of $30,236.03. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter Thiel sold 60,316 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $172.25, for a total value of $10,389,431.00. Following the sale, the director now owns 6,311 shares in the company, valued at $1,087,069.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,183,113 shares of company stock worth $1,607,154,643. 19.08% of the stock is owned by corporate insiders.

About Facebook

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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