Financial Architects Inc Cuts Position in Facebook, Inc. (NASDAQ:FB)

Financial Architects Inc decreased its position in Facebook, Inc. (NASDAQ:FB) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,046 shares of the social networking company’s stock after selling 278 shares during the quarter. Financial Architects Inc’s holdings in Facebook were worth $4,884,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in Facebook by 2.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 104,548,050 shares of the social networking company’s stock valued at $30,792,537,000 after acquiring an additional 2,802,398 shares in the last quarter. Geode Capital Management LLC grew its position in Facebook by 1.9% in the first quarter. Geode Capital Management LLC now owns 37,780,412 shares of the social networking company’s stock valued at $11,095,469,000 after acquiring an additional 712,271 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Facebook by 8.5% during the first quarter. Janus Henderson Group PLC now owns 13,548,108 shares of the social networking company’s stock worth $3,990,513,000 after buying an additional 1,060,482 shares in the last quarter. Polen Capital Management LLC grew its position in shares of Facebook by 1.4% during the first quarter. Polen Capital Management LLC now owns 12,497,902 shares of the social networking company’s stock worth $3,681,007,000 after buying an additional 177,413 shares in the last quarter. Finally, Magellan Asset Management Ltd grew its position in shares of Facebook by 3.7% during the first quarter. Magellan Asset Management Ltd now owns 12,041,440 shares of the social networking company’s stock worth $3,546,565,000 after buying an additional 426,524 shares in the last quarter. 65.72% of the stock is owned by institutional investors.

A number of research firms have recently weighed in on FB. Evercore ISI raised their price target on shares of Facebook from $400.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, July 29th. JMP Securities raised their price objective on Facebook from $395.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. Zacks Investment Research cut Facebook from a “buy” rating to a “hold” rating and set a $409.00 price objective on the stock. in a research note on Tuesday, June 29th. Piper Sandler restated a “neutral” rating and set a $385.00 price objective (up from $335.00) on shares of Facebook in a research note on Thursday, July 29th. Finally, Mizuho raised their price objective on Facebook from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, July 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $403.98.

NASDAQ:FB traded down $7.99 on Wednesday, hitting $368.54. 474,886 shares of the company’s stock traded hands, compared to its average volume of 17,312,885. Facebook, Inc. has a 1 year low of $244.13 and a 1 year high of $384.33. The firm has a 50-day moving average price of $362.49 and a 200-day moving average price of $328.99. The company has a market cap of $1.04 trillion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.19 and a beta of 1.29.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, July 28th. The social networking company reported $3.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.03 by $0.58. Facebook had a return on equity of 30.09% and a net margin of 37.17%. Analysts predict that Facebook, Inc. will post 14.1 earnings per share for the current fiscal year.

In related news, CFO David M. Wehner sold 1,545 shares of the business’s stock in a transaction that occurred on Sunday, August 15th. The stock was sold at an average price of $363.18, for a total value of $561,113.10. Following the completion of the sale, the chief financial officer now directly owns 27,321 shares in the company, valued at approximately $9,922,440.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David M. Wehner sold 8,176 shares of Facebook stock in a transaction that occurred on Wednesday, August 18th. The stock was sold at an average price of $356.10, for a total value of $2,911,473.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,506,590 shares of company stock valued at $895,659,803. 14.01% of the stock is owned by corporate insiders.

Facebook Company Profile

Facebook, Inc operates as a social networking company worldwide. The company engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online.

Further Reading: 52-week highs

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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