Valiant Capital Management L.P. decreased its position in Facebook Inc (NASDAQ:FB) by 19.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 479,623 shares of the social networking company’s stock after selling 117,200 shares during the quarter. Facebook accounts for 4.0% of Valiant Capital Management L.P.’s portfolio, making the stock its 3rd largest position. Valiant Capital Management L.P.’s holdings in Facebook were worth $72,413,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in FB. D. Scott Neal Inc. lifted 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 purchasing an additional 679 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its position in Facebook by 4.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock valued at $122,000 after purchasing an additional 34 shares during the last quarter. Pacific Center for Financial Services lifted 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 purchasing an additional 88 shares during the last quarter. Watermark Asset Management Inc. bought a new stake in Facebook in the first quarter valued at approximately $141,000. Finally, Vigilant Capital Management LLC lifted its position in Facebook by 17.8% in the second quarter. Vigilant Capital Management LLC now owns 991 shares of the social networking company’s stock valued at $150,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 57.86% of the company’s stock.
Several analysts have weighed in on the company. Pivotal Research reiterated a “sell” rating and issued a $140.00 price objective on shares of Facebook in a research report on Wednesday, September 6th. Wells Fargo & Company reiterated an “outperform” rating and issued a $215.00 price objective (up previously from $185.00) on shares of Facebook in a research report on Wednesday, September 27th. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $174.15 target price for the company in a report on Monday, August 21st. Royal Bank Of Canada restated a “buy” rating and set a $195.00 target price on shares of Facebook in a report on Friday, October 13th. Finally, Wedbush restated an “outperform” rating and set a $230.00 target price (up previously from $225.00) on shares of Facebook in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, forty-two have issued a buy rating and three have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $200.70.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The firm had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $9.84 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The company’s quarterly revenue was up 47.3% on a year-over-year basis. analysts anticipate that Facebook Inc will post 5.86 EPS for the current fiscal year.
In other news, CEO Mark Zuckerberg sold 232,138 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $183.08, for a total value of $42,499,825.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David B. Fischer sold 16,621 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $183.51, for a total value of $3,050,119.71. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,179,022 shares of company stock worth $921,840,196. Insiders own 17.23% of the company’s stock.
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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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