Gerber Kawasaki Wealth & Investment Management lowered its holdings in Facebook Inc (NASDAQ:FB) by 14.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 77,385 shares of the social networking company’s stock after selling 12,934 shares during the quarter. Facebook accounts for about 4.9% of Gerber Kawasaki Wealth & Investment Management’s investment portfolio, making the stock its 3rd largest position. Gerber Kawasaki Wealth & Investment Management’s holdings in Facebook were worth $13,348,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in FB. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Facebook during the 3rd quarter worth approximately $111,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Facebook during the 2nd quarter worth approximately $138,000. Stelac Advisory Services LLC acquired a new stake in shares of Facebook during the 3rd quarter worth approximately $152,000. Odey Holdings AG grew its holdings in shares of Facebook by 5.4% during the 2nd quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock worth $160,000 after purchasing an additional 54 shares in the last quarter. Finally, Almanack Investment Partners LLC. acquired a new stake in shares of Facebook during the 2nd quarter worth approximately $165,000. 57.32% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on the company. Morgan Stanley set a $200.00 price target on Facebook and gave the company a “buy” rating in a research note on Thursday, November 2nd. Needham & Company LLC boosted their price target on Facebook from $185.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Wedbush set a $225.00 price target on Facebook and gave the company a “buy” rating in a research note on Monday, October 30th. Vetr raised Facebook from a “buy” rating to a “strong-buy” rating and set a $202.09 price target on the stock in a research note on Tuesday, December 19th. Finally, Canaccord Genuity boosted their price target on Facebook from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $214.70.
In other news, CTO Michael Todd Schroepfer sold 26,940 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $178.89, for a total transaction of $4,819,296.60. Following the completion of the sale, the chief technology officer now owns 468,105 shares in the company, valued at $83,739,303.45. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jan Koum sold 1,253,906 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $176.51, for a total value of $221,326,948.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,762,530 shares of company stock valued at $490,711,179. 17.23% of the stock is currently owned by corporate insiders.
Facebook Inc (NASDAQ FB) opened at $176.01 on Wednesday. Facebook Inc has a 52-week low of $132.90 and a 52-week high of $195.32. The stock has a market capitalization of $515,230.81, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 0.92 and a beta of 0.59.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, January 31st. The social networking company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.24. The company had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $12.58 billion. Facebook had a return on equity of 26.49% and a net margin of 39.16%. equities analysts expect that Facebook Inc will post 7.28 earnings per share for the current year.
Facebook Company Profile
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook Inc (NASDAQ:FB).
Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.