Mitchell Capital Management Co. Sells 650 Shares of Facebook, Inc. (NASDAQ:FB)

Mitchell Capital Management Co. lessened its position in Facebook, Inc. (NASDAQ:FB) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,937 shares of the social networking company’s stock after selling 650 shares during the quarter. Facebook makes up about 2.2% of Mitchell Capital Management Co.’s portfolio, making the stock its 7th biggest position. Mitchell Capital Management Co.’s holdings in Facebook were worth $6,798,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp grew its stake in Facebook by 1.2% in the first quarter. State Street Corp now owns 95,449,004 shares of the social networking company’s stock valued at $15,920,894,000 after purchasing an additional 1,132,053 shares in the last quarter. Capital International Investors grew its stake in Facebook by 14.1% in the first quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock valued at $8,604,068,000 after purchasing an additional 6,394,036 shares in the last quarter. Geode Capital Management LLC grew its stake in Facebook by 2.1% in the first quarter. Geode Capital Management LLC now owns 34,812,327 shares of the social networking company’s stock valued at $5,794,733,000 after purchasing an additional 723,655 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Facebook by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 21,748,552 shares of the social networking company’s stock valued at $3,627,657,000 after purchasing an additional 1,251,202 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Facebook by 6.9% during the 1st quarter. Alliancebernstein L.P. now owns 18,712,332 shares of the social networking company’s stock worth $3,121,217,000 after acquiring an additional 1,205,780 shares during the period. Hedge funds and other institutional investors own 65.12% of the company’s stock.

FB opened at $253.67 on Friday. The company’s 50 day moving average is $235.27 and its 200-day moving average is $207.59. Facebook, Inc. has a 1-year low of $137.10 and a 1-year high of $255.85. The company has a current ratio of 4.60, a quick ratio of 4.60 and a debt-to-equity ratio of 0.09. The company has a market cap of $722.73 billion, a P/E ratio of 30.97, a PEG ratio of 1.81 and a beta of 1.19.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.36. Facebook had a net margin of 31.29% and a return on equity of 23.49%. The company had revenue of $18.69 billion for the quarter, compared to the consensus estimate of $17.29 billion. On average, equities analysts forecast that Facebook, Inc. will post 7.4 EPS for the current year.

In related news, CAO Susan J.S. Taylor sold 1,195 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $223.39, for a total value of $266,951.05. Following the completion of the transaction, the chief accounting officer now owns 3,147 shares in the company, valued at approximately $703,008.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jennifer Newstead sold 194 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $234.76, for a total transaction of $45,543.44. Following the completion of the transaction, the vice president now owns 1,918 shares of the company’s stock, valued at approximately $450,269.68. 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. 14.14% of the stock is owned by company insiders.

Several research analysts have recently commented on FB shares. Oppenheimer reiterated a “buy” rating and set a $270.00 target price (up from $240.00) on shares of Facebook in a research note on Friday. Argus lifted their target price on Facebook from $220.00 to $240.00 in a research note on Monday, May 4th. Bank of America lifted their target price on Facebook from $265.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research upgraded Facebook from a “hold” rating to a “buy” rating and set a $236.00 target price for the company in a research note on Friday, June 12th. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $303.00 target price (up from $265.00) on shares of Facebook in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Facebook presently has an average rating of “Buy” and an average target price of $273.37.

About Facebook

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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