Davis Rea LTD. Trims Stake in Facebook, Inc. (FB)

Davis Rea LTD. trimmed its stake in shares of Facebook, Inc. (NASDAQ:FB) by 15.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,345 shares of the social networking company’s stock after selling 5,336 shares during the period. Facebook comprises about 3.6% of Davis Rea LTD.’s holdings, making the stock its 11th biggest position. Davis Rea LTD.’s holdings in Facebook were worth $5,508,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Marble Arch Investments LP increased its stake in shares of Facebook by 40.8% during the 1st quarter. Marble Arch Investments LP now owns 451,900 shares of the social networking company’s stock worth $72,209,000 after purchasing an additional 130,900 shares in the last quarter. Knott David M purchased a new position in shares of Facebook during the 1st quarter worth approximately $3,196,000. Immersion Capital LLP purchased a new position in shares of Facebook during the 1st quarter worth approximately $65,194,000. Natixis increased its stake in shares of Facebook by 420.1% during the 1st quarter. Natixis now owns 789,988 shares of the social networking company’s stock worth $126,232,000 after purchasing an additional 638,106 shares in the last quarter. Finally, City Financial Investment Co Ltd purchased a new position in shares of Facebook during the 1st quarter worth approximately $15,979,000. Institutional investors own 60.25% of the company’s stock.

Shares of NASDAQ FB opened at $144.96 on Friday. Facebook, Inc. has a 52-week low of $139.03 and a 52-week high of $218.62. The firm has a market cap of $435.58 billion, a PE ratio of 23.53, a P/E/G ratio of 0.91 and a beta of 0.55.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.30. The company had revenue of $13.73 billion during the quarter, compared to analysts’ expectations of $13.82 billion. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The business’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.59 EPS. As a group, sell-side analysts predict that Facebook, Inc. will post 7.35 earnings per share for the current fiscal year.

FB has been the subject of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $275.00 price objective on shares of Facebook in a research note on Friday, July 20th. Wells Fargo & Co set a $220.00 target price on shares of Facebook and gave the stock a “buy” rating in a research note on Monday, October 29th. Cleveland Research reaffirmed a “buy” rating on shares of Facebook in a research note on Thursday, September 13th. UBS Group lowered their target price on shares of Facebook from $180.00 to $160.00 and set a “neutral” rating for the company in a research note on Wednesday, October 31st. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $200.00 target price on shares of Facebook in a research note on Thursday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $194.54.

In related news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $179.17, for a total transaction of $134,377.50. Following the transaction, the vice president now owns 85,615 shares in the company, valued at approximately $15,339,639.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 210,000 shares of Facebook stock in a transaction on Monday, August 13th. The shares were sold at an average price of $181.02, for a total transaction of $38,014,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,571,582 shares of company stock worth $448,690,663 in the last 90 days. Company insiders own 17.23% of the company’s stock.

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Facebook 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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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