L & S Advisors Inc raised its position in Facebook, Inc. (NASDAQ:FB) by 4.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,414 shares of the social networking company’s stock after purchasing an additional 2,317 shares during the period. Facebook accounts for 1.5% of L & S Advisors Inc’s investment portfolio, making the stock its 9th biggest position. L & S Advisors Inc’s holdings in Facebook were worth $11,081,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Whitnell & Co. purchased a new stake in shares of Facebook during the 4th quarter valued at $26,000. Cordasco Financial Network raised its position in shares of Facebook by 70.0% during the 2nd quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock valued at $33,000 after buying an additional 70 shares in the last quarter. Shamrock Asset Management LLC purchased a new stake in shares of Facebook during the 2nd quarter valued at $38,000. Clean Yield Group purchased a new stake in shares of Facebook during the 2nd quarter valued at $39,000. Finally, Litman Gregory Asset Management LLC purchased a new stake in shares of Facebook during the 2nd quarter valued at $41,000. 63.60% of the stock is owned by hedge funds and other institutional investors.
In related news, COO Sheryl Sandberg sold 55,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $181.62, for a total transaction of $9,989,100.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 237,823 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $182.75, for a total transaction of $43,462,153.25. The disclosure for this sale can be found here. Insiders have sold 2,244,072 shares of company stock worth $416,434,607 in the last three months. 14.53% of the stock is currently owned by insiders.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.09. The firm had revenue of $16.89 billion for the quarter, compared to analyst estimates of $16.49 billion. Facebook had a net margin of 27.26% and a return on equity of 20.09%. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.74 EPS. On average, research analysts forecast that Facebook, Inc. will post 8.03 EPS for the current fiscal year.
FB has been the topic of several research reports. JMP Securities raised their price objective on shares of Facebook from $220.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Oppenheimer raised their price objective on shares of Facebook from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Goldman Sachs Group set a $228.00 price objective on shares of Facebook and gave the company a “buy” rating in a research report on Tuesday, July 23rd. UBS Group restated a “buy” rating and set a $240.00 price objective on shares of Facebook in a research report on Thursday, July 25th. Finally, Canaccord Genuity lifted their target price on shares of Facebook from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have assigned a buy rating to the stock. Facebook has a consensus rating of “Buy” and an average price target of $220.92.
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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