Coastal Investment Advisors Inc. Sells 622 Shares of Facebook, Inc. (NASDAQ:FB)


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Coastal Investment Advisors Inc. cut its stake in Facebook, Inc. (NASDAQ:FB) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,712 shares of the social networking company’s stock after selling 622 shares during the period. Facebook makes up approximately 1.2% of Coastal Investment Advisors Inc.’s holdings, making the stock its 13th biggest position. Coastal Investment Advisors Inc.’s holdings in Facebook were worth $4,292,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Apexium Financial LP lifted its stake in shares of Facebook by 3.3% in the 3rd quarter. Apexium Financial LP now owns 1,113 shares of the social networking company’s stock valued at $291,000 after purchasing an additional 36 shares during the last quarter. Trellis Advisors LLC increased its holdings in Facebook by 1.6% in the third quarter. Trellis Advisors LLC now owns 2,338 shares of the social networking company’s stock valued at $612,000 after buying an additional 37 shares during the last quarter. Column Capital Advisors LLC increased its holdings in Facebook by 1.4% in the third quarter. Column Capital Advisors LLC now owns 2,747 shares of the social networking company’s stock valued at $719,000 after buying an additional 37 shares during the last quarter. Barber Financial Group Inc. increased its holdings in Facebook by 4.1% in the third quarter. Barber Financial Group Inc. now owns 976 shares of the social networking company’s stock valued at $256,000 after buying an additional 38 shares during the last quarter. Finally, Ellis Investment Partners LLC increased its holdings in Facebook by 6.3% in the third quarter. Ellis Investment Partners LLC now owns 662 shares of the social networking company’s stock valued at $173,000 after buying an additional 39 shares during the last quarter. 59.62% of the stock is owned by hedge funds and other institutional investors.

FB stock opened at $251.64 on Thursday. Facebook, Inc. has a 52-week low of $137.10 and a 52-week high of $304.67. The company has a 50-day moving average of $273.31 and a two-hundred day moving average of $264.97. The stock has a market capitalization of $716.74 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 1.55 and a beta of 1.19.

Facebook (NASDAQ:FB) last released its earnings results on Thursday, October 29th. The social networking company reported $2.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.77. Facebook had a net margin of 32.00% and a return on equity of 23.27%. The business had revenue of $21.47 billion during the quarter, compared to analysts’ expectations of $19.78 billion. During the same quarter last year, the company earned $2.12 earnings per share. The firm’s revenue was up 21.6% on a year-over-year basis. On average, equities analysts forecast that Facebook, Inc. will post 9.39 earnings per share for the current fiscal year.

In related news, VP Jennifer Newstead sold 310 shares of the firm’s stock in a transaction that occurred on Tuesday, November 17th. The shares were sold at an average price of $277.28, for a total value of $85,956.80. Following the completion of the sale, the vice president now owns 5,038 shares of the company’s stock, valued at $1,396,936.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 44,750 shares of the firm’s stock in a transaction that occurred on Monday, January 11th. The shares were sold at an average price of $259.37, for a total transaction of $11,606,807.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,197,194 shares of company stock valued at $327,128,221. 14.14% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Facebook from $300.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. UBS Group set a $330.00 target price on Facebook and gave the company a “buy” rating in a report on Friday, October 30th. Oppenheimer upped their target price on Facebook from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Tuesday, September 22nd. Raymond James increased their price objective on Facebook from $280.00 to $320.00 and gave the stock a “strong-buy” rating in a report on Friday, October 30th. They noted that the move was a valuation call. Finally, Cowen increased their price objective on Facebook from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. Facebook has an average rating of “Buy” and an average target price of $299.24.

Facebook Profile

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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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