Legacy Capital Partners Inc. decreased its stake in shares of Facebook, Inc. (NASDAQ:FB) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,922 shares of the social networking company’s stock after selling 325 shares during the quarter. Legacy Capital Partners Inc.’s holdings in Facebook were worth $1,539,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. Marble Arch Investments LP boosted its stake in shares of Facebook by 40.8% during the 1st quarter. Marble Arch Investments LP now owns 451,900 shares of the social networking company’s stock worth $72,209,000 after acquiring an additional 130,900 shares during the period. Knott David M bought a new stake in Facebook in the 1st quarter valued at $3,196,000. Immersion Capital LLP bought a new stake in Facebook in the 1st quarter valued at $65,194,000. Natixis boosted its stake in Facebook by 420.1% in the 1st quarter. Natixis now owns 789,988 shares of the social networking company’s stock valued at $126,232,000 after purchasing an additional 638,106 shares during the period. Finally, City Financial Investment Co Ltd bought a new stake in Facebook in the 1st quarter valued at $15,979,000. 60.25% of the stock is currently owned by hedge funds and other institutional investors.
In related news, COO Sheryl Sandberg sold 55,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $180.72, for a total transaction of $9,939,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher K. Cox sold 3,300 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $150.09, for a total value of $495,297.00. Following the sale, the insider now owns 115,837 shares in the company, valued at approximately $17,385,975.33. The disclosure for this sale can be found here. Insiders sold a total of 3,201,582 shares of company stock worth $564,369,020 in the last quarter. Corporate insiders own 16.25% of the company’s stock.
Shares of NASDAQ FB traded down $1.67 during trading on Monday, reaching $148.68. The company had a trading volume of 15,788,210 shares, compared to its average volume of 27,752,232. Facebook, Inc. has a 12 month low of $139.03 and a 12 month high of $218.62. The firm has a market capitalization of $436.77 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.30. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The firm had revenue of $13.73 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same quarter in the previous year, the company posted $1.59 EPS. The business’s revenue was up 32.9% on a year-over-year basis. On average, analysts forecast that Facebook, Inc. will post 7.3 earnings per share for the current year.
FB has been the subject of several recent research reports. JPMorgan Chase & Co. restated a “buy” rating and issued a $242.00 price target on shares of Facebook in a research note on Monday, July 9th. Morgan Stanley boosted their price target on Facebook from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 10th. Nomura initiated coverage on Facebook in a research note on Tuesday, July 10th. They issued a “buy” rating and a $228.00 price target for the company. Zacks Investment Research downgraded Facebook from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 11th. Finally, Cowen upped their target price on Facebook from $210.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, July 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $194.54.
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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