Triton Wealth Management PLLC Increases Stake in Facebook, Inc. (NASDAQ:FB)

Triton Wealth Management PLLC grew its position in shares of Facebook, Inc. (NASDAQ:FB) by 107.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,639 shares of the social networking company’s stock after acquiring an additional 2,403 shares during the quarter. Facebook comprises approximately 1.1% of Triton Wealth Management PLLC’s holdings, making the stock its 22nd largest holding. Triton Wealth Management PLLC’s holdings in Facebook were worth $1,079,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Watson Rebecca bought a new position in shares of Facebook during the 2nd quarter valued at approximately $25,000. JJJ Advisors Inc. lifted its position in Facebook by 262.5% in the second quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock worth $33,000 after buying an additional 105 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in Facebook in the first quarter worth $41,000. Elmwood Wealth Management Inc. bought a new stake in Facebook in the first quarter worth $46,000. Finally, NuWave Investment Management LLC lifted its position in Facebook by 1,019.2% in the first quarter. NuWave Investment Management LLC now owns 291 shares of the social networking company’s stock worth $49,000 after buying an additional 265 shares during the last quarter. Hedge funds and other institutional investors own 65.12% of the company’s stock.

In related news, CRO David B. Fischer sold 22,000 shares of Facebook stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $205.29, for a total transaction of $4,516,380.00. Following the completion of the sale, the executive now owns 57,503 shares of the company’s stock, valued at $11,804,790.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David M. Wehner sold 11,764 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $231.66, for a total value of $2,725,248.24. Following the completion of the transaction, the chief financial officer now directly owns 19,412 shares of the company’s stock, valued at $4,496,983.92. The disclosure for this sale can be found here. Insiders have sold 68,591 shares of company stock worth $14,894,825 in the last 90 days. Insiders own 14.14% of the company’s stock.

A number of brokerages recently issued reports on FB. SunTrust Banks restated a “buy” rating and issued a $285.00 price target (up from $245.00) on shares of Facebook in a research report on Friday. Deutsche Bank raised their price target on Facebook from $220.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Robert W. Baird raised their price target on Facebook from $240.00 to $300.00 in a research report on Thursday, June 25th. Guggenheim raised their price target on Facebook from $235.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, BMO Capital Markets raised their price target on Facebook from $220.00 to $225.00 and gave the stock a “market perform” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $273.37.

Shares of FB stock opened at $253.67 on Friday. Facebook, Inc. has a fifty-two week low of $137.10 and a fifty-two week high of $255.85. The firm has a market capitalization 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 debt-to-equity ratio of 0.09, a quick ratio of 4.60 and a current ratio of 4.60. The stock’s 50-day simple moving average is $235.27 and its 200-day simple moving average is $207.59.

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

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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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