BTIM Corp. acquired a new position in shares of Facebook, Inc. (NASDAQ:FB) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 9,739 shares of the social networking company’s stock, valued at approximately $1,892,000.
Several other institutional investors also recently modified their holdings of FB. Cribstone Capital Management LLC raised its holdings in Facebook by 186.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock valued at $121,000 after acquiring an additional 406 shares during the last quarter. Trust Department MB Financial Bank N A acquired a new position in Facebook in the 2nd quarter valued at $134,000. Wagner Wealth Management LLC acquired a new position in Facebook in the 4th quarter valued at $183,000. Northwest Wealth Management LLC acquired a new position in Facebook in the 2nd quarter valued at $194,000. Finally, AJ Wealth Strategies LLC acquired a new position in Facebook in the 2nd quarter valued at $216,000. Hedge funds and other institutional investors own 60.43% of the company’s stock.
Several analysts have recently issued reports on FB shares. JPMorgan Chase & Co. reissued a “$210.91” rating and set a $242.00 price objective on shares of Facebook in a research note on Monday, July 23rd. Barclays reissued a “buy” rating and set a $190.00 price objective on shares of Facebook in a research note on Wednesday, June 27th. Macquarie reissued a “buy” rating and set a $200.00 price objective on shares of Facebook in a research note on Wednesday, June 27th. Zacks Investment Research raised shares of Facebook from a “hold” rating to a “buy” rating and set a $226.00 price objective for the company in a research note on Tuesday, June 26th. Finally, BidaskClub raised shares of Facebook from a “hold” rating to a “buy” rating in a research note on Saturday, June 23rd. Five analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $205.00.
NASDAQ:FB opened at $153.74 on Friday. The stock has a market capitalization of $477.76 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 1.05 and a beta of 0.42. Facebook, Inc. has a 1-year low of $149.02 and a 1-year high of $218.62.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 25th. The social networking company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). The firm had revenue of $13.23 billion during the quarter, compared to analysts’ expectations of $13.35 billion. Facebook had a net margin of 39.31% and a return on equity of 28.16%. The business’s quarterly revenue was up 41.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.32 earnings per share. As a group, equities research analysts predict that Facebook, Inc. will post 7.08 earnings per share for the current year.
In other Facebook news, VP David B. Fischer sold 3,125 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $163.02, for a total value of $509,437.50. Following the completion of the transaction, the vice president now directly owns 34,375 shares of the company’s stock, valued at approximately $5,603,812.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $210.00, for a total transaction of $157,500.00. Following the completion of the transaction, the vice president now directly owns 88,615 shares of the company’s stock, valued at $18,609,150. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,052,146 shares of company stock valued at $1,136,174,749. 16.25% of the stock is currently owned by corporate insiders.
Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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