Suncoast Equity Management raised its position in Facebook, Inc. (NASDAQ:FB) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 141,960 shares of the social networking company’s stock after acquiring an additional 572 shares during the quarter. Facebook makes up 4.9% of Suncoast Equity Management’s portfolio, making the stock its 10th biggest holding. Suncoast Equity Management’s holdings in Facebook were worth $18,610,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of FB. Suffolk Capital Management LLC bought a new position in shares of Facebook in the fourth quarter worth about $3,046,000. Pioneer Trust Bank N A OR raised its stake in shares of Facebook by 7.1% in the fourth quarter. Pioneer Trust Bank N A OR now owns 15,330 shares of the social networking company’s stock worth $2,010,000 after buying an additional 1,010 shares during the period. Shine Investment Advisory Services Inc. raised its stake in shares of Facebook by 5.8% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 2,144 shares of the social networking company’s stock worth $281,000 after buying an additional 118 shares during the period. Viridian Ria LLC raised its stake in shares of Facebook by 1.2% in the fourth quarter. Viridian Ria LLC now owns 10,136 shares of the social networking company’s stock worth $1,328,000 after buying an additional 125 shares during the period. Finally, Northstar Group Inc. raised its stake in shares of Facebook by 5.2% in the fourth quarter. Northstar Group Inc. now owns 13,418 shares of the social networking company’s stock worth $1,746,000 after buying an additional 667 shares during the period. 60.22% of the stock is currently owned by institutional investors.
FB has been the topic of several recent research reports. Argus reaffirmed a “buy” rating on shares of Facebook in a research note on Wednesday, January 9th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $195.00 price objective on shares of Facebook in a research note on Tuesday, January 8th. BidaskClub raised Facebook from a “hold” rating to a “buy” rating in a research note on Saturday, January 5th. Zacks Investment Research raised Facebook from a “hold” rating to a “buy” rating and set a $149.00 price objective on the stock in a research note on Wednesday, January 2nd. Finally, Wedbush set a $220.00 price objective on Facebook and gave the stock a “buy” rating in a research note on Wednesday, January 2nd. Five research analysts have rated the stock with a sell rating, six have given a hold rating and thirty-nine have issued a buy rating to the stock. Facebook currently has an average rating of “Buy” and an average target price of $192.11.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, January 30th. The social networking company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.20. The business had revenue of $16.91 billion during the quarter, compared to analysts’ expectations of $16.40 billion. Facebook had a return on equity of 27.51% and a net margin of 39.60%. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.44 EPS. As a group, equities research analysts expect that Facebook, Inc. will post 7.54 earnings per share for the current fiscal year.
In other news, CAO Susan J.S. Taylor sold 1,442 shares of Facebook stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $162.02, for a total value of $233,632.84. Following the completion of the transaction, the chief accounting officer now owns 1,569 shares in the company, valued at approximately $254,209.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 108,000 shares of Facebook stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $178.64, for a total value of $19,293,120.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,430,685 shares of company stock valued at $248,586,373 in the last 90 days. 16.25% of the stock is currently owned by company insiders.
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Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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