Legacy Financial Advisors Inc. Purchased $337,000 in Facebook, Inc. (NASDAQ:FB) Shares

Legacy Financial Advisors Inc. Purchased $337,000 in Facebook, Inc. (NASDAQ:FB) Shares

Legacy Financial Advisors Inc. acquired a new position in Facebook, Inc. (NASDAQ:FB) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,627 shares of the social networking company’s stock, valued at approximately $337,000.

Other hedge funds have also recently made changes to their positions in the company. Winslow Evans & Crocker Inc. increased its holdings in Facebook by 2.2% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 12,658 shares of the social networking company’s stock valued at $2,462,000 after purchasing an additional 274 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Facebook by 8.5% during the 4th quarter. Venturi Wealth Management LLC now owns 3,627 shares of the social networking company’s stock valued at $640,000 after purchasing an additional 284 shares in the last quarter. Harvest Group Wealth Management LLC increased its holdings in Facebook by 2.4% during the 1st quarter. Harvest Group Wealth Management LLC now owns 12,430 shares of the social networking company’s stock valued at $1,986,000 after purchasing an additional 286 shares in the last quarter. Truewealth LLC increased its holdings in Facebook by 7.1% during the 2nd quarter. Truewealth LLC now owns 4,306 shares of the social networking company’s stock valued at $837,000 after purchasing an additional 287 shares in the last quarter. Finally, Risk Paradigm Group LLC increased its holdings in Facebook by 81.4% during the 4th quarter. Risk Paradigm Group LLC now owns 655 shares of the social networking company’s stock valued at $116,000 after purchasing an additional 294 shares in the last quarter. Institutional investors own 60.43% of the company’s stock.

Shares of NASDAQ FB opened at $157.90 on Wednesday. The company has a market cap of $477.76 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 1.05 and a beta of 0.42. Facebook, Inc. has a twelve month low of $149.02 and a twelve month high of $218.62.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, July 25th. The social networking company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). Facebook had a return on equity of 28.16% and a net margin of 39.31%. The business had revenue of $13.23 billion for the quarter, compared to analyst estimates of $13.35 billion. During the same period last year, the firm earned $1.32 EPS. Facebook’s quarterly revenue was up 41.9% compared to the same quarter last year. Equities analysts forecast that Facebook, Inc. will post 7.08 EPS for the current year.

Several research firms have weighed in on FB. Zacks Investment Research lowered Facebook from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 11th. ValuEngine upgraded Facebook from a “hold” rating to a “buy” rating in a report on Friday, July 6th. BidaskClub upgraded Facebook from a “hold” rating to a “buy” rating in a report on Saturday, June 23rd. Barclays reiterated a “buy” rating and set a $190.00 target price on shares of Facebook in a report on Wednesday, June 27th. Finally, Macquarie reiterated a “buy” rating and set a $200.00 target price on shares of Facebook in a report on Wednesday, June 27th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $205.68.

In related news, CEO Mark Zuckerberg sold 240,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $216.71, for a total value of $52,010,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $210.00, for a total value of $157,500.00. Following the completion of the sale, the vice president now owns 88,615 shares of the company’s stock, valued at $18,609,150. The disclosure for this sale can be found here. Insiders sold 6,438,291 shares of company stock worth $1,220,603,640 in the last ninety days. 16.25% of the stock is owned by company insiders.

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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