Truvestments Capital LLC decreased its holdings in Facebook, Inc. (NASDAQ:FB) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,080 shares of the social networking company’s stock after selling 495 shares during the quarter. Facebook accounts for about 1.1% of Truvestments Capital LLC’s portfolio, making the stock its 25th largest holding. Truvestments Capital LLC’s holdings in Facebook were worth $1,617,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Cordasco Financial Network grew its holdings in Facebook by 70.0% during the 2nd quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock worth $33,000 after acquiring an additional 70 shares during the last quarter. Shamrock Asset Management LLC acquired a new position in shares of Facebook in the 2nd quarter worth approximately $38,000. Clean Yield Group acquired a new position in shares of Facebook in the 2nd quarter worth approximately $39,000. Litman Gregory Asset Management LLC acquired a new position in shares of Facebook in the 2nd quarter worth approximately $41,000. Finally, Spectrum Management Group Inc. lifted its position in shares of Facebook by 135.3% in the 2nd quarter. Spectrum Management Group Inc. now owns 240 shares of the social networking company’s stock worth $46,000 after purchasing an additional 138 shares during the period. Institutional investors and hedge funds own 63.18% of the company’s stock.
In other Facebook news, CEO Mark Zuckerberg sold 237,823 shares of the company’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 filing with the SEC, which is available through the SEC website. Also, COO Sheryl Sandberg sold 55,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $180.92, for a total transaction of $9,950,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,604,556 shares of company stock worth $664,101,293. Insiders own 14.53% of the company’s stock.
A number of research analysts recently issued reports on the stock. BidaskClub upgraded shares of Facebook from a “sell” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Facebook from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Guggenheim reiterated a “hold” rating on shares of Facebook in a research report on Tuesday, September 10th. Raymond James boosted their target price on shares of Facebook from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. They noted that the move was a valuation call. Finally, Goldman Sachs Group set a $228.00 target price on shares of Facebook and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and forty-three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $220.81.
FB traded up $4.69 during trading on Friday, hitting $184.72. 3,853,846 shares of the company traded hands, compared to its average volume of 13,372,172. The firm has a market cap of $513.62 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. The stock’s fifty day moving average is $183.25 and its 200 day moving average is $185.07. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.08. Facebook, Inc. has a one year low of $123.02 and a one year high of $208.66.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.09. The business had revenue of $16.89 billion for the quarter, compared to the consensus estimate of $16.49 billion. Facebook had a net margin of 27.26% and a return on equity of 20.09%. The company’s revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.74 earnings per share. On average, equities research analysts forecast that Facebook, Inc. will post 7.99 EPS for the current fiscal year.
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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