Deltec Asset Management LLC Cuts Stake in Facebook, Inc. (NASDAQ:FB)

Deltec Asset Management LLC lessened its stake in shares of Facebook, Inc. (NASDAQ:FB) by 9.5% during the second quarter, Holdings Channel.com reports. The firm owned 71,097 shares of the social networking company’s stock after selling 7,500 shares during the period. Facebook accounts for about 3.4% of Deltec Asset Management LLC’s portfolio, making the stock its 6th biggest position. Deltec Asset Management LLC’s holdings in Facebook were worth $16,144,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Eagle Ridge Investment Management acquired a new stake in shares of Facebook in the 2nd quarter worth about $244,000. Stelac Advisory Services LLC raised its holdings in shares of Facebook by 6.3% in the 2nd quarter. Stelac Advisory Services LLC now owns 2,396 shares of the social networking company’s stock worth $544,000 after acquiring an additional 142 shares during the last quarter. Copper Rock Capital Partners LLC raised its holdings in shares of Facebook by 6,224.9% in the 2nd quarter. Copper Rock Capital Partners LLC now owns 3,959,790 shares of the social networking company’s stock worth $821,695,000 after acquiring an additional 3,897,184 shares during the last quarter. Zweig DiMenna Associates LLC raised its holdings in shares of Facebook by 153.5% in the 2nd quarter. Zweig DiMenna Associates LLC now owns 103,536 shares of the social networking company’s stock worth $23,510,000 after acquiring an additional 62,692 shares during the last quarter. Finally, Mendel Money Management acquired a new stake in shares of Facebook in the 2nd quarter worth about $1,681,000. 65.12% of the stock is currently owned by institutional investors.

Shares of NASDAQ:FB opened at $253.67 on Friday. The firm has a fifty day moving average price of $235.27 and a two-hundred day moving average price of $207.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 4.60. Facebook, Inc. has a one year low of $137.10 and a one year high of $255.85. The company has a market cap of $668.11 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 1.68 and a beta of 1.19.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.36. Facebook had a net margin of 31.29% and a return on equity of 23.49%. The firm had revenue of $18.69 billion during the quarter, compared to the consensus estimate of $17.29 billion. Equities research analysts expect that Facebook, Inc. will post 7.36 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on FB shares. Rosenblatt Securities upped their target price on shares of Facebook from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets upped their target price on shares of Facebook from $220.00 to $225.00 and gave the stock a “market perform” rating in a report on Friday. Deutsche Bank upped their target price on shares of Facebook from $220.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday. Citigroup increased their price objective on shares of Facebook from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, BofA Securities increased their price objective on shares of Facebook from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the stock. Facebook presently has a consensus rating of “Buy” and a consensus price target of $273.37.

In other news, VP Jennifer Newstead sold 194 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $207.43, for a total transaction of $40,241.42. Following the sale, the vice president now owns 406 shares in the company, valued at approximately $84,216.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO David B. Fischer sold 22,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $205.29, for a total transaction of $4,516,380.00. Following the sale, the executive now owns 57,503 shares in the company, valued at approximately $11,804,790.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,591 shares of company stock valued at $14,894,825. Insiders own 14.14% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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