EMS Capital LP lifted its stake in shares of Facebook, Inc. (NASDAQ:FB) by 44.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 571,500 shares of the social networking company’s stock after acquiring an additional 176,000 shares during the quarter. Facebook makes up 15.6% of EMS Capital LP’s holdings, making the stock its biggest holding. EMS Capital LP’s holdings in Facebook were worth $198,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. Baldrige Asset Management LLC acquired a new stake in Facebook in the second quarter valued at approximately $31,000. Capital Directions Investment Advisors LLC bought a new stake in Facebook during the second quarter worth $31,000. Paragon Wealth Strategies LLC bought a new stake in shares of Facebook in the second quarter valued at $46,000. Penserra Capital Management LLC raised its stake in shares of Facebook by 275.0% in the second quarter. Penserra Capital Management LLC now owns 135 shares of the social networking company’s stock valued at $46,000 after buying an additional 99 shares during the period. Finally, Horan Securities Inc. raised its stake in shares of Facebook by 309.1% in the second quarter. Horan Securities Inc. now owns 135 shares of the social networking company’s stock valued at $47,000 after buying an additional 102 shares during the period. Institutional investors own 65.72% of the company’s stock.
A number of analysts recently issued reports on FB shares. Oppenheimer boosted their price objective on Facebook from $375.00 to $405.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Wells Fargo & Company cut their price objective on Facebook from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Tuesday. Monness Crespi & Hardt lowered their target price on Facebook from $500.00 to $460.00 and set a “buy” rating for the company in a research note on Tuesday. Canaccord Genuity boosted their target price on Facebook from $380.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Finally, JPMorgan Chase & Co. lowered their price target on Facebook from $450.00 to $390.00 and set an “overweight” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $398.48.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Sunday, October 24th. The social networking company reported $3.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.19 by $0.03. The company had revenue of $29.01 billion during the quarter, compared to analyst estimates of $29.52 billion. Facebook had a return on equity of 30.09% and a net margin of 37.17%. The firm’s revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the business posted $2.71 earnings per share. On average, sell-side analysts predict that Facebook, Inc. will post 14.16 EPS for the current year.
In related news, insider Jennifer Newstead sold 125 shares of the business’s stock in a transaction that occurred on Tuesday, October 12th. The shares were sold at an average price of $322.84, for a total value of $40,355.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 52,700 shares of the business’s stock in a transaction that occurred on Wednesday, October 27th. The stock was sold at an average price of $314.91, for a total transaction of $16,595,757.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,454,183 shares of company stock valued at $871,998,240. 14.01% of the stock is currently owned by company insiders.
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.
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