Beck Capital Management LLC lessened its stake in Facebook Inc (NASDAQ:FB) by 38.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 35,229 shares of the social networking company’s stock after selling 21,832 shares during the quarter. Facebook comprises 2.9% of Beck Capital Management LLC’s holdings, making the stock its 8th biggest position. Beck Capital Management LLC’s holdings in Facebook were worth $6,020,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. King Luther Capital Management Corp boosted its position in shares of Facebook by 14.7% during the 3rd quarter. King Luther Capital Management Corp now owns 547,452 shares of the social networking company’s stock valued at $93,543,000 after purchasing an additional 70,343 shares in the last quarter. B. Riley Financial Inc. boosted its position in shares of Facebook by 144.9% during the 3rd quarter. B. Riley Financial Inc. now owns 8,679 shares of the social networking company’s stock valued at $1,483,000 after purchasing an additional 5,135 shares in the last quarter. Signature Financial Management Inc. boosted its position in shares of Facebook by 36.5% during the 3rd quarter. Signature Financial Management Inc. now owns 5,992 shares of the social networking company’s stock valued at $831,000 after purchasing an additional 1,601 shares in the last quarter. Polen Capital Management LLC boosted its position in shares of Facebook by 2.3% during the 3rd quarter. Polen Capital Management LLC now owns 5,940,032 shares of the social networking company’s stock valued at $1,014,973,000 after purchasing an additional 134,590 shares in the last quarter. Finally, Harbor Spring Capital LLC bought a new position in shares of Facebook during the 3rd quarter valued at about $40,667,000. Hedge funds and other institutional investors own 57.32% of the company’s stock.
Several research firms have recently weighed in on FB. Credit Suisse Group restated an “outperform” rating and set a $232.00 price objective (up previously from $230.00) on shares of Facebook in a research report on Monday, January 8th. Stifel Nicolaus lowered shares of Facebook from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. Barclays raised their target price on shares of Facebook from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Robert W. Baird set a $225.00 target price on shares of Facebook and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, Atlantic Securities set a $215.00 target price on shares of Facebook and gave the stock a “buy” rating in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-two have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $214.70.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, January 31st. The social networking company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.96 by $0.24. Facebook had a return on equity of 26.49% and a net margin of 39.16%. The company had revenue of $12.97 billion for the quarter, compared to the consensus estimate of $12.58 billion. equities research analysts expect that Facebook Inc will post 7.28 earnings per share for the current fiscal year.
In other news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $171.60, for a total value of $128,700.00. Following the sale, the vice president now owns 84,246 shares in the company, valued at $14,456,613.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 232,138 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $183.08, for a total transaction of $42,499,825.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,219,330 shares of company stock worth $572,496,651. Corporate insiders own 17.23% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Facebook Inc (FB) is Beck Capital Management LLC’s 8th Largest Position” was originally published by Ticker Report and is owned by of Ticker Report. If you are accessing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright laws. The original version of this story can be read at https://www.tickerreport.com/banking-finance/3222485/facebook-inc-fb-is-beck-capital-management-llcs-8th-largest-position.html.
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.
Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook Inc (NASDAQ:FB).
Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.