Cascade Investment Advisors Inc. lessened its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 5.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 6,230 shares of the social networking company’s stock after selling 350 shares during the period. Facebook accounts for 1.4% of Cascade Investment Advisors Inc.’s portfolio, making the stock its 11th largest position. Cascade Investment Advisors Inc.’s holdings in Facebook were worth $1,632,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of FB. AE Wealth Management LLC grew its position in shares of Facebook by 42.6% during the 2nd quarter. AE Wealth Management LLC now owns 82,420 shares of the social networking company’s stock worth $18,715,000 after buying an additional 24,635 shares during the period. Sarasin & Partners LLP boosted its stake in Facebook by 223.4% during the 2nd quarter. Sarasin & Partners LLP now owns 256,493 shares of the social networking company’s stock worth $58,242,000 after acquiring an additional 177,179 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in Facebook by 7.8% during the third quarter. Foundations Investment Advisors LLC now owns 7,764 shares of the social networking company’s stock valued at $2,018,000 after purchasing an additional 563 shares during the period. Donaldson Capital Management LLC increased its stake in Facebook by 23.3% in the second quarter. Donaldson Capital Management LLC now owns 1,596 shares of the social networking company’s stock valued at $362,000 after purchasing an additional 302 shares in the last quarter. Finally, Clarius Group LLC increased its stake in Facebook by 3.8% in the third quarter. Clarius Group LLC now owns 41,396 shares of the social networking company’s stock valued at $10,842,000 after purchasing an additional 1,521 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.
FB opened at $265.93 on Friday. Facebook, Inc. has a 12-month low of $137.10 and a 12-month high of $304.67. The business has a 50 day moving average of $268.73 and a 200-day moving average of $234.17. The stock has a market cap of $757.59 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.80 and a beta of 1.29.
Several equities analysts have recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Facebook in a report on Friday, July 31st. Oppenheimer increased their price target on Facebook from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Tuesday, September 22nd. Needham & Company LLC initiated coverage on Facebook in a report on Thursday, July 2nd. They set a “hold” rating on the stock. Goldman Sachs Group reiterated a “buy” rating and issued a $303.00 price objective (up from $265.00) on shares of Facebook in a research report on Friday, July 31st. Finally, Pivotal Research raised their target price on shares of Facebook from $225.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, July 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $283.11.
In other news, CAO Susan J.S. Taylor sold 1,133 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $261.39, for a total transaction of $296,154.87. Following the completion of the sale, the chief accounting officer now owns 4,182 shares in the company, valued at $1,093,132.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Michael Todd Schroepfer sold 112 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $262.09, for a total value of $29,354.08. Following the completion of the transaction, the chief technology officer now directly owns 498,238 shares in the company, valued at approximately $130,583,197.42. The disclosure for this sale can be found here. Insiders sold 34,023 shares of company stock worth $9,420,337 over the last three months. Insiders own 14.14% of the company’s stock.
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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