Brasada Capital Management LP raised its stake in shares of Facebook, Inc. (NASDAQ:FB) by 37.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,714 shares of the social networking company’s stock after acquiring an additional 2,378 shares during the quarter. Brasada Capital Management LP’s holdings in Facebook were worth $1,551,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FB. Financial Advantage Inc. acquired a new stake in shares of Facebook in the 3rd quarter worth $28,000. Cordasco Financial Network lifted its position in Facebook by 70.0% in the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 70 shares during the period. Shamrock Asset Management LLC acquired a new stake in Facebook in the second quarter valued at about $38,000. Clean Yield Group purchased a new position in Facebook in the second quarter valued at about $39,000. Finally, Litman Gregory Asset Management LLC purchased a new position in Facebook in the second quarter valued at about $41,000. 63.17% of the stock is currently owned by institutional investors and hedge funds.
FB opened at $190.84 on Friday. The company has a 50-day moving average of $185.37 and a 200-day moving average of $187.27. The company has a market capitalization of $554.39 billion, a P/E ratio of 25.21, a PEG ratio of 1.10 and a beta of 1.05. Facebook, Inc. has a 1-year low of $123.02 and a 1-year high of $208.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.66 and a current ratio of 4.66.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.21. Facebook had a net margin of 27.08% and a return on equity of 20.39%. The business had revenue of $17.65 billion during the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the prior year, the firm earned $1.76 EPS. The company’s revenue for the quarter was up 28.6% compared to the same quarter last year. As a group, sell-side analysts expect that Facebook, Inc. will post 8.57 earnings per share for the current fiscal year.
A number of research analysts have issued reports on FB shares. Credit Suisse Group reaffirmed an “outperform” rating and issued a $270.00 target price (up from $260.00) on shares of Facebook in a report on Thursday, October 31st. Monness Crespi & Hardt increased their target price on shares of Facebook from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Nomura increased their target price on shares of Facebook from $235.00 to $253.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BidaskClub raised shares of Facebook from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Aegis reaffirmed a “buy” rating on shares of Facebook in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and forty-one have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $228.33.
In other Facebook news, CEO Mark Zuckerberg sold 237,823 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $182.75, for a total transaction of $43,462,153.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Susan J.S. Taylor sold 1,134 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $185.45, for a total transaction of $210,300.30. Following the transaction, the chief accounting officer now directly owns 1,037 shares of the company’s stock, valued at $192,311.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,681,364 shares of company stock valued at $867,172,511. Insiders own 14.53% of the company’s stock.
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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