Conservest Capital Advisors Inc. grew its position in Facebook, Inc. (NASDAQ:FB) by 21.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,949 shares of the social networking company’s stock after buying an additional 350 shares during the quarter. Conservest Capital Advisors Inc.’s holdings in Facebook were worth $532,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Rocky Mountain Advisers LLC purchased a new position in Facebook in the third quarter valued at $26,000. Horan Capital Advisors LLC. purchased a new position in Facebook in the third quarter valued at $26,000. Carolina Wealth Advisors LLC boosted its holdings in Facebook by 58.2% in the third quarter. Carolina Wealth Advisors LLC now owns 144 shares of the social networking company’s stock valued at $38,000 after purchasing an additional 53 shares during the period. Demars Financial Group LLC purchased a new stake in Facebook during the 2nd quarter worth about $39,000. Finally, Newfound Research LLC purchased a new stake in Facebook during the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 59.62% of the company’s stock.
FB has been the subject of a number of recent analyst reports. BidaskClub downgraded Facebook from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 6th. KeyCorp lifted their price target on Facebook from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. Credit Suisse Group lifted their price target on Facebook from $322.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. Wedbush lifted their target price on Facebook from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, October 30th. Finally, Truist lifted their target price on Facebook from $285.00 to $310.00 in a research report on Friday, October 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. Facebook has an average rating of “Buy” and an average price target of $299.24.
Facebook (NASDAQ:FB) last posted its earnings results on Thursday, October 29th. The social networking company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.77. Facebook had a return on equity of 23.27% and a net margin of 32.00%. The firm had revenue of $21.47 billion for the quarter, compared to analyst estimates of $19.78 billion. During the same quarter in the prior year, the company earned $2.12 EPS. Facebook’s revenue was up 21.6% on a year-over-year basis. On average, sell-side analysts expect that Facebook, Inc. will post 9.39 EPS for the current year.
In other Facebook news, VP Jennifer Newstead sold 310 shares of the stock in a transaction on Tuesday, January 5th. The stock was sold at an average price of $268.40, for a total transaction of $83,204.00. Following the transaction, the vice president now owns 1,572 shares of the company’s stock, valued at approximately $421,924.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 44,750 shares of the stock in a transaction on Monday, January 11th. The stock was sold at an average price of $259.37, for a total value of $11,606,807.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,197,194 shares of company stock worth $327,128,221. 14.14% of the stock is owned by corporate insiders.
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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