Ballast Advisors LLC increased its holdings in Facebook, Inc. (NASDAQ:FB) by 41.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,367 shares of the social networking company’s stock after acquiring an additional 400 shares during the quarter. Ballast Advisors LLC’s holdings in Facebook were worth $310,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in FB. Sarasin & Partners LLP grew its holdings in Facebook by 223.4% in the 2nd quarter. Sarasin & Partners LLP now owns 256,493 shares of the social networking company’s stock worth $58,242,000 after buying an additional 177,179 shares in the last quarter. First American Bank grew its holdings in Facebook by 1.4% in the 1st quarter. First American Bank now owns 43,592 shares of the social networking company’s stock worth $7,271,000 after buying an additional 593 shares in the last quarter. Consolidated Investment Group LLC grew its holdings in Facebook by 64.2% in the 1st quarter. Consolidated Investment Group LLC now owns 13,300 shares of the social networking company’s stock worth $2,218,000 after buying an additional 5,200 shares in the last quarter. Donaldson Capital Management LLC grew its holdings in Facebook by 23.3% in the 2nd quarter. Donaldson Capital Management LLC now owns 1,596 shares of the social networking company’s stock worth $362,000 after buying an additional 302 shares in the last quarter. Finally, Transform Wealth LLC grew its holdings in Facebook by 6.3% in the 1st quarter. Transform Wealth LLC now owns 30,466 shares of the social networking company’s stock worth $5,082,000 after buying an additional 1,807 shares in the last quarter. Institutional investors and hedge funds own 65.12% of the company’s stock.
Shares of Facebook stock opened at $253.67 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 4.60. The firm has a market cap of $722.73 billion, a P/E ratio of 30.97, a P/E/G ratio of 1.81 and a beta of 1.19. The firm has a 50 day simple moving average of $235.27 and a 200 day simple moving average of $207.59. Facebook, Inc. has a fifty-two week low of $137.10 and a fifty-two week high of $255.85.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.36. The company had revenue of $18.69 billion for 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, sell-side analysts expect that Facebook, Inc. will post 7.4 EPS for the current year.
In other Facebook news, CRO David B. Fischer sold 22,000 shares of the business’s stock in a transaction dated 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 directly owns 57,503 shares of the company’s stock, valued at approximately $11,804,790.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David M. Wehner sold 1,795 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $206.81, for a total transaction of $371,223.95. Following the sale, the chief financial officer now directly owns 32,917 shares in the company, valued at $6,807,564.77. The disclosure for this sale can be found here. Insiders sold a total of 68,591 shares of company stock worth $14,894,825 over the last ninety days. 14.14% of the stock is currently owned by insiders.
A number of equities analysts have issued reports on FB shares. Raymond James increased their price target on Facebook from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Friday. They noted that the move was a valuation call. Argus increased their price objective on Facebook from $220.00 to $240.00 in a research report on Monday, May 4th. Barclays increased their target price on Facebook from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Friday. Canaccord Genuity restated a “buy” rating and issued a $290.00 target price (up previously from $275.00) on shares of Facebook in a report on Friday. Finally, Loop Capital increased their target price on Facebook from $215.00 to $265.00 in a report on Friday, May 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $273.37.
Facebook Company Profile
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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