ING Groep NV trimmed its stake in shares of Facebook, Inc. (NASDAQ:FB) by 25.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 567,421 shares of the social networking company’s stock after selling 196,516 shares during the quarter. Facebook makes up 2.1% of ING Groep NV’s investment portfolio, making the stock its 10th largest position. ING Groep NV’s holdings in Facebook were worth $110,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Marble Arch Investments LP grew its position in shares of Facebook by 40.8% in the 1st quarter. Marble Arch Investments LP now owns 451,900 shares of the social networking company’s stock worth $72,209,000 after buying an additional 130,900 shares during the last quarter. Knott David M bought a new stake in shares of Facebook in the 1st quarter worth approximately $3,196,000. Immersion Capital LLP bought a new stake in shares of Facebook in the 1st quarter worth approximately $65,194,000. Natixis grew its position in shares of Facebook by 420.1% in the 1st quarter. Natixis now owns 789,988 shares of the social networking company’s stock worth $126,232,000 after buying an additional 638,106 shares during the last quarter. Finally, City Financial Investment Co Ltd bought a new stake in shares of Facebook in the 1st quarter worth approximately $15,979,000. Institutional investors and hedge funds own 58.42% of the company’s stock.
FB has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $225.00 price objective on shares of Facebook in a research report on Monday, August 20th. Wells Fargo & Co reiterated a “buy” rating and issued a $220.00 price objective on shares of Facebook in a research report on Thursday, August 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $202.00 price objective on shares of Facebook in a research report on Thursday, August 23rd. Robert W. Baird reiterated a “buy” rating and issued a $195.00 price objective on shares of Facebook in a research report on Monday, September 3rd. Finally, Moffett Nathanson reiterated a “neutral” rating and issued a $175.00 price objective on shares of Facebook in a research report on Tuesday, September 4th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the stock. Facebook currently has an average rating of “Buy” and a consensus price target of $191.80.
In other Facebook news, CFO David M. Wehner sold 4,761 shares of Facebook stock in a transaction on Friday, November 16th. The stock was sold at an average price of $141.10, for a total transaction of $671,777.10. Following the completion of the transaction, the chief financial officer now owns 76,830 shares in the company, valued at $10,840,713. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Sheryl Sandberg sold 55,000 shares of Facebook stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $135.12, for a total value of $7,431,600.00. The disclosure for this sale can be found here. Insiders have sold 518,103 shares of company stock valued at $79,159,534 in the last quarter. 17.23% of the stock is owned by company insiders.
Shares of NASDAQ:FB opened at $137.42 on Friday. The firm has a market cap of $400.69 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 0.87 and a beta of 0.57. Facebook, Inc. has a 12-month low of $126.85 and a 12-month high of $218.62.
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 Zacks’ 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 quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.59 earnings per share. As a group, equities research analysts forecast that Facebook, Inc. will post 7.36 EPS for the current fiscal year.
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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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