Kovitz Investment Group Partners LLC Acquires New Holdings in Facebook, Inc. (FB)

Kovitz Investment Group Partners LLC acquired a new position in Facebook, Inc. (NASDAQ:FB) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,061 shares of the social networking company’s stock, valued at approximately $577,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. united american securities inc. d b a uas asset management acquired a new stake in shares of Facebook in the 1st quarter worth about $6,916,000. Marshall & Sullivan Inc. WA grew its position in Facebook by 4.1% in the 1st quarter. Marshall & Sullivan Inc. WA now owns 23,251 shares of the social networking company’s stock valued at $3,484,000 after buying an additional 916 shares in the last quarter. Lumbard & Kellner LLC bought a new position in Facebook in the 1st quarter valued at about $273,000. Flagship Harbor Advisors LLC grew its position in Facebook by 18.5% in the 1st quarter. Flagship Harbor Advisors LLC now owns 19,034 shares of the social networking company’s stock valued at $2,702,000 after buying an additional 2,977 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. bought a new position in Facebook in the 1st quarter valued at about $94,601,000. 57.30% of the stock is currently owned by institutional investors and hedge funds.

In other Facebook news, VP Colin Stretch sold 750 shares of the stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $152.87, for a total value of $114,652.50. Following the completion of the transaction, the vice president now directly owns 87,656 shares in the company, valued at $13,399,972.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Wehner sold 15,470 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $167.16, for a total value of $2,585,965.20. Following the completion of the transaction, the chief financial officer now owns 62,375 shares of the company’s stock, valued at $10,426,605. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,071,103 shares of company stock valued at $2,134,223,843. 19.08% of the stock is owned by corporate insiders.

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FB has been the subject of a number of recent analyst reports. Canaccord Genuity reiterated a “buy” rating and issued a $175.00 target price on shares of Facebook in a research report on Friday, June 16th. Vetr lowered shares of Facebook from a “buy” rating to a “hold” rating and set a $156.06 target price for the company. in a research report on Thursday, May 25th. Cantor Fitzgerald set a $180.00 target price on shares of Facebook and gave the company a “buy” rating in a research report on Tuesday, June 20th. Robert W. Baird reiterated a “buy” rating and issued a $185.00 target price on shares of Facebook in a research report on Friday, September 1st. Finally, Moffett Nathanson reiterated a “buy” rating on shares of Facebook in a research report on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have given a buy rating and three have given a strong buy rating to the company. Facebook currently has an average rating of “Buy” and an average target price of $183.74.

Facebook, Inc. (NASDAQ FB) traded down 0.48% on Tuesday, hitting $172.68. The company had a trading volume of 5,528,142 shares. Facebook, Inc. has a 12-month low of $113.55 and a 12-month high of $175.49. The firm has a 50-day moving average price of $169.37 and a 200-day moving average price of $152.86. The firm has a market capitalization of $501.50 billion, a PE ratio of 38.65 and a beta of 0.76.

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

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.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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