Gerber Kawasaki Wealth & Investment Management reduced its holdings in Facebook, Inc. (NASDAQ:FB) by 5.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,739 shares of the social networking company’s stock after selling 3,151 shares during the period. Facebook makes up 3.0% of Gerber Kawasaki Wealth & Investment Management’s holdings, making the stock its 10th biggest position. Gerber Kawasaki Wealth & Investment Management’s holdings in Facebook were worth $10,013,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Harbor Advisory Corp MA grew its holdings in shares of Facebook by 2.0% during the first quarter. Harbor Advisory Corp MA now owns 24,180 shares of the social networking company’s stock worth $3,864,000 after buying an additional 485 shares in the last quarter. Castleview Partners LLC bought a new position in shares of Facebook during the first quarter worth about $677,000. Equity Investment Corp grew its holdings in shares of Facebook by 34.0% during the first quarter. Equity Investment Corp now owns 3,726 shares of the social networking company’s stock worth $595,000 after buying an additional 945 shares in the last quarter. Manchester Capital Management LLC grew its holdings in shares of Facebook by 56.2% during the first quarter. Manchester Capital Management LLC now owns 3,829 shares of the social networking company’s stock worth $612,000 after buying an additional 1,377 shares in the last quarter. Finally, Thornburg Investment Management Inc. grew its holdings in shares of Facebook by 3.8% during the first quarter. Thornburg Investment Management Inc. now owns 1,413,987 shares of the social networking company’s stock worth $225,941,000 after buying an additional 51,278 shares in the last quarter. 60.25% of the stock is currently owned by hedge funds and other institutional investors.
In other Facebook news, CEO Mark Zuckerberg sold 210,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $178.00, for a total transaction of $37,380,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Sheryl Sandberg sold 55,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $180.72, for a total value of $9,939,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,571,582 shares of company stock valued at $448,690,663. 17.23% of the stock is currently owned by insiders.
NASDAQ:FB opened at $144.96 on Friday. The company has a market cap of $440.19 billion, a P/E ratio of 20.50, a PEG ratio of 0.92 and a beta of 0.55. Facebook, Inc. has a 1-year low of $139.03 and a 1-year high of $218.62.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.30. The business had revenue of $13.73 billion during the quarter, compared to analysts’ expectations of $13.82 billion. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period last year, the firm posted $1.59 EPS. Analysts predict that Facebook, Inc. will post 7.35 earnings per share for the current year.
A number of research firms recently issued reports on FB. ValuEngine upgraded Facebook from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Argus decreased their price target on Facebook from $210.00 to $206.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Morgan Stanley decreased their price target on Facebook from $175.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 31st. Raymond James decreased their price target on Facebook from $210.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, October 31st. Finally, Rosenblatt Securities set a $206.00 price target on Facebook and gave the company a “buy” rating in a research note on Wednesday, October 31st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Facebook currently has a consensus rating of “Buy” and a consensus target price of $194.54.
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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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