Grassi Investment Management boosted its holdings in shares of Facebook Inc (NASDAQ:FB) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,779 shares of the social networking company’s stock after purchasing an additional 1,400 shares during the period. Grassi Investment Management’s holdings in Facebook were worth $5,961,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in FB. Franklin Street Advisors Inc. NC lifted its position in shares of Facebook by 5.1% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 75,117 shares of the social networking company’s stock valued at $13,255,000 after acquiring an additional 3,677 shares in the last quarter. Moon Capital Management LLC purchased a new stake in shares of Facebook in the 4th quarter valued at approximately $332,000. DnB Asset Management AS lifted its position in shares of Facebook by 24.4% in the 4th quarter. DnB Asset Management AS now owns 1,330,945 shares of the social networking company’s stock valued at $234,938,000 after acquiring an additional 261,448 shares in the last quarter. New England Research & Management Inc. purchased a new stake in shares of Facebook in the 4th quarter valued at approximately $272,000. Finally, Progressive Investment Management Corp lifted its position in shares of Facebook by 3.0% in the 4th quarter. Progressive Investment Management Corp now owns 36,799 shares of the social networking company’s stock valued at $6,494,000 after acquiring an additional 1,066 shares in the last quarter. 58.48% of the stock is owned by institutional investors and hedge funds.
Shares of Facebook Inc (NASDAQ:FB) opened at $184.76 on Tuesday. Facebook Inc has a 1-year low of $137.60 and a 1-year high of $195.32. The firm has a market cap of $536,730.00, a price-to-earnings ratio of 29.99, a price-to-earnings-growth ratio of 0.96 and a beta of 0.64.
In other Facebook news, VP Colin Stretch sold 750 shares of the stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $176.23, for a total value of $132,172.50. Following the completion of the sale, the vice president now directly owns 82,096 shares of the company’s stock, valued at approximately $14,467,778.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher K. Cox sold 16,000 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $178.10, for a total transaction of $2,849,600.00. Following the completion of the sale, the insider now directly owns 16,010 shares of the company’s stock, valued at $2,851,381. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,467,131 shares of company stock valued at $798,223,122. Insiders own 17.23% of the company’s stock.
Several equities research analysts recently commented on FB shares. Vetr upgraded shares of Facebook from a “buy” rating to a “strong-buy” rating and set a $197.10 price target for the company in a research report on Wednesday, November 29th. MKM Partners upped their price target on shares of Facebook to $240.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Evercore ISI assumed coverage on shares of Facebook in a research report on Tuesday, December 5th. They issued an “outperform” rating and a $225.00 price target for the company. Wells Fargo & Co reiterated a “buy” rating and issued a $215.00 price objective on shares of Facebook in a research note on Tuesday, December 5th. Finally, Zacks Investment Research upgraded shares of Facebook from a “hold” rating to a “buy” rating and set a $198.00 price objective on the stock in a research note on Tuesday, January 2nd. 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 company. The stock has a consensus rating of “Buy” and a consensus price target of $214.70.
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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.
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