EFG Asset Management Americas Corp. cut its position in Facebook, Inc. (NASDAQ:FB) by 93.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,218 shares of the social networking company’s stock after selling 16,217 shares during the period. EFG Asset Management Americas Corp.’s holdings in Facebook were worth $277,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Capital International Investors lifted its position in shares of Facebook by 14.1% during the first quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock worth $8,604,068,000 after purchasing an additional 6,394,036 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Facebook by 36.9% during the first quarter. Wellington Management Group LLP now owns 15,704,846 shares of the social networking company’s stock worth $2,619,569,000 after purchasing an additional 4,236,566 shares in the last quarter. Copper Rock Capital Partners LLC lifted its position in shares of Facebook by 6,224.9% during the second quarter. Copper Rock Capital Partners LLC now owns 3,959,790 shares of the social networking company’s stock worth $821,695,000 after purchasing an additional 3,897,184 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Facebook by 1,141.8% during the first quarter. Fisher Asset Management LLC now owns 3,852,395 shares of the social networking company’s stock worth $642,580,000 after purchasing an additional 3,542,165 shares in the last quarter. Finally, Public Investment Fund acquired a new position in shares of Facebook during the first quarter worth approximately $521,859,000. Hedge funds and other institutional investors own 65.12% of the company’s stock.
FB traded up $19.17 during trading hours on Friday, hitting $253.67. 53,030,037 shares of the company’s stock were exchanged, compared to its average volume of 19,530,204. Facebook, Inc. has a 1-year low of $137.10 and a 1-year high of $255.85. The stock’s 50-day moving average is $235.27 and its two-hundred day moving average is $207.59. The stock has a market cap of $722.73 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 1.81 and a beta of 1.19. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.09.
Facebook (NASDAQ:FB) last announced its earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.36. The business had revenue of $18.69 billion during the quarter, compared to analysts’ expectations of $17.29 billion. Facebook had a net margin of 31.29% and a return on equity of 23.49%. On average, equities research analysts anticipate that Facebook, Inc. will post 7.4 EPS for the current year.
A number of brokerages have recently issued reports on FB. Morgan Stanley upped their target price on shares of Facebook from $270.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday. Oppenheimer restated a “buy” rating and issued a $270.00 price objective (up from $240.00) on shares of Facebook in a report on Friday. Mizuho increased their price objective on shares of Facebook from $245.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Jefferies Financial Group increased their price objective on shares of Facebook from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday. Finally, Guggenheim increased their price objective on shares of Facebook from $235.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company. Facebook has a consensus rating of “Buy” and a consensus price target of $273.37.
In other Facebook news, CRO David B. Fischer sold 22,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $205.29, for a total value of $4,516,380.00. Following the completion of the sale, the executive now owns 57,503 shares in the company, valued at $11,804,790.87. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Jennifer Newstead sold 194 shares of the stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $246.22, for a total transaction of $47,766.68. Following the completion of the sale, the vice president now owns 2,112 shares of the company’s stock, valued at approximately $520,016.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,591 shares of company stock valued at $14,894,825. Corporate insiders own 14.14% of the company’s stock.
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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