Glynn Capital Management LLC lifted its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 4.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 256,467 shares of the social networking company’s stock after acquiring an additional 10,448 shares during the quarter. Facebook makes up about 8.3% of Glynn Capital Management LLC’s portfolio, making the stock its 3rd biggest holding. Glynn Capital Management LLC’s holdings in Facebook were worth $45,672,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Biegel & Waller LLC raised its holdings in Facebook by 2.2% in the 2nd quarter. Biegel & Waller LLC now owns 2,336 shares of the social networking company’s stock valued at $451,000 after acquiring an additional 50 shares in the last quarter. Hyman Charles D raised its holdings in shares of Facebook by 0.9% during the 2nd quarter. Hyman Charles D now owns 5,861 shares of the social networking company’s stock worth $1,131,000 after buying an additional 50 shares in the last quarter. MBM Wealth Consultants LLC raised its holdings in shares of Facebook by 2.5% during the 2nd quarter. MBM Wealth Consultants LLC now owns 2,086 shares of the social networking company’s stock worth $409,000 after buying an additional 51 shares in the last quarter. Perkins Coie Trust Co raised its holdings in shares of Facebook by 3.5% during the 2nd quarter. Perkins Coie Trust Co now owns 1,522 shares of the social networking company’s stock worth $294,000 after buying an additional 52 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC raised its holdings in shares of Facebook by 1.0% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 5,624 shares of the social networking company’s stock worth $1,002,000 after buying an additional 54 shares in the last quarter. Institutional investors own 63.17% of the company’s stock.
A number of equities analysts have recently commented on the company. Wells Fargo & Co set a $260.00 price target on Facebook and gave the stock a “buy” rating in a report on Friday, November 1st. Summit Insights assumed coverage on Facebook in a report on Friday, September 27th. They set a “buy” rating for the company. BMO Capital Markets lowered their price target on Facebook from $197.00 to $185.00 and set a “market perform” rating for the company in a report on Thursday, October 31st. Jefferies Financial Group reissued a “buy” rating and set a $250.00 price target on shares of Facebook in a report on Thursday, October 31st. Finally, Summit Redstone assumed coverage on Facebook in a report on Friday, September 27th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and forty-one have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $228.33.
In other news, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $181.62, for a total value of $9,989,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 125,600 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $186.10, for a total value of $23,374,160.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,681,364 shares of company stock worth $867,172,511. Corporate insiders own 14.53% of the company’s stock.
Shares of Facebook stock traded up $0.42 on Friday, hitting $190.84. 10,760,700 shares of the company’s stock traded hands, compared to its average volume of 16,776,678. Facebook, Inc. has a one year low of $123.02 and a one year high of $208.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.66 and a quick ratio of 4.66. The company has a fifty day moving average of $185.37 and a two-hundred day moving average of $187.27. The company has a market capitalization of $554.39 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 1.10 and a beta of 1.05.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.21. The business had revenue of $17.65 billion for the quarter, compared to analyst estimates of $17.35 billion. Facebook had a return on equity of 20.39% and a net margin of 27.08%. The company’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 earnings per share. Equities research analysts anticipate that Facebook, Inc. will post 8.57 earnings per share for the current year.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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