PointState Capital LP Reduces Stake in Facebook, Inc. (NASDAQ:FB)

PointState Capital LP reduced its position in Facebook, Inc. (NASDAQ:FB) by 37.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,093 shares of the social networking company’s stock after selling 4,307 shares during the period. PointState Capital LP’s holdings in Facebook were worth $1,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in FB. Cantor Fitzgerald Investment Adviser L.P. bought a new position in Facebook in the 2nd quarter worth $205,000. Executive Wealth Management LLC bought a new position in Facebook in the 4th quarter worth $5,196,000. Fiduciary Financial Services of The Southwest Inc. TX raised its holdings in Facebook by 1.7% in the 2nd quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 12,236 shares of the social networking company’s stock worth $2,362,000 after purchasing an additional 206 shares during the period. HighPoint Advisor Group LLC raised its holdings in Facebook by 10.0% in the 4th quarter. HighPoint Advisor Group LLC now owns 18,085 shares of the social networking company’s stock worth $2,935,000 after purchasing an additional 1,641 shares during the period. Finally, Eastern Bank raised its holdings in Facebook by 16.4% in the 2nd quarter. Eastern Bank now owns 99,117 shares of the social networking company’s stock worth $19,130,000 after purchasing an additional 13,934 shares during the period. Hedge funds and other institutional investors own 63.17% of the company’s stock.

A number of equities analysts recently commented on FB shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $260.00 target price on shares of Facebook in a report on Thursday, July 25th. Canaccord Genuity raised their target price on Facebook from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. ValuEngine cut Facebook from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird raised their target price on Facebook from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Deutsche Bank raised their price target on Facebook from $230.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $220.92.

In related news, CRO David B. Fischer sold 12,267 shares of Facebook stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $184.12, for a total value of $2,258,600.04. Following the completion of the transaction, the executive now owns 48,970 shares in the company, valued at $9,016,356.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Sheryl Sandberg sold 55,000 shares of Facebook stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $189.76, for a total value of $10,436,800.00. The disclosure for this sale can be found here. Insiders sold 2,620,872 shares of company stock worth $486,967,799 over the last ninety days. Insiders own 14.53% of the company’s stock.

Shares of FB stock traded up $2.00 during trading hours on Thursday, hitting $190.14. The stock had a trading volume of 6,328,183 shares, compared to its average volume of 11,181,642. 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 0.08, a current ratio of 4.47 and a quick ratio of 4.47. The stock’s 50-day moving average price is $185.93 and its two-hundred day moving average price is $183.54. The stock has a market capitalization of $531.28 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 1.08 and a beta of 1.01.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.09. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The firm had revenue of $16.89 billion for the quarter, compared to analysts’ expectations of $16.49 billion. During the same period in the previous year, the firm posted $1.74 earnings per share. The business’s revenue was up 27.6% compared to the same quarter last year. As a group, equities research analysts predict that Facebook, Inc. will post 8.03 earnings per share for the current fiscal year.

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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.

See Also: Gross Domestic Product (GDP)

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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