First American Trust FSB reduced its position in shares of Facebook Inc (NASDAQ:FB) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,816 shares of the social networking company’s stock after selling 827 shares during the period. Facebook accounts for about 1.3% of First American Trust FSB’s portfolio, making the stock its 28th largest holding. First American Trust FSB’s holdings in Facebook were worth $5,085,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the business. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Facebook in the third quarter valued at approximately $111,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Facebook in the second quarter valued at approximately $138,000. Stelac Advisory Services LLC purchased a new stake in shares of Facebook in the third quarter valued at approximately $152,000. Odey Holdings AG grew its position in shares of Facebook by 5.4% in the second quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock valued at $160,000 after purchasing an additional 54 shares in the last quarter. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of Facebook in the second quarter valued at approximately $165,000. Institutional investors own 58.48% of the company’s stock.
FB has been the subject of a number of analyst reports. Vetr upgraded Facebook from a “buy” rating to a “strong-buy” rating and set a $202.09 price target for the company in a research report on Tuesday, December 19th. MKM Partners upped their price target on Facebook to $240.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Wells Fargo & Co restated a “buy” rating and issued a $215.00 price target on shares of Facebook in a research report on Tuesday, December 5th. BidaskClub upgraded Facebook from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Finally, JPMorgan Chase & Co. set a $242.00 price target on Facebook and gave the company a “buy” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, forty-one have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $214.70.
Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, January 31st. The social networking company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.96 by $0.24. The firm had revenue of $12.97 billion for the quarter, compared to analyst estimates of $12.58 billion. Facebook had a return on equity of 26.49% and a net margin of 39.16%. research analysts expect that Facebook Inc will post 7.28 EPS for the current fiscal year.
In related news, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $174.74, for a total value of $9,610,700.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Todd Schroepfer sold 38,017 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $187.83, for a total value of $7,140,733.11. Following the completion of the transaction, the insider now directly owns 381,521 shares in the company, valued at approximately $71,661,089.43. The disclosure for this sale can be found here. Insiders sold 4,467,131 shares of company stock worth $798,223,122 in the last three months. 17.23% of the stock is currently owned by corporate insiders.
ILLEGAL ACTIVITY WARNING: This story was first reported by American Banking News and is the property of of American Banking News. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://www.americanbankingnews.com/2018/03/13/first-american-trust-fsb-cuts-holdings-in-facebook-inc-fb.html.
Facebook Company Profile
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook Inc (NASDAQ:FB).
Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.