Koshinski Asset Management Inc. increased its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 67.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,764 shares of the social networking company’s stock after purchasing an additional 3,939 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Facebook were worth $2,668,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Flagship Private Wealth LLC purchased a new position in Facebook during the 4th quarter valued at about $25,000. DB Wealth Management Group LLC purchased a new position in Facebook during the 4th quarter valued at about $27,000. Klaas Financial Asset Advisors LLC purchased a new position in Facebook during the 4th quarter valued at about $27,000. Litman Gregory Asset Management LLC purchased a new position in Facebook during the 4th quarter valued at about $27,000. Finally, ADE LLC purchased a new position in shares of Facebook in the 4th quarter valued at about $27,000. 64.95% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the company. Bank of America restated a “buy” rating and set a $345.00 target price on shares of Facebook in a research note on Friday, January 15th. JPMorgan Chase & Co. boosted their target price on Facebook from $330.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, January 28th. Truist boosted their target price on Facebook from $320.00 to $333.00 in a research note on Thursday, January 28th. MKM Partners boosted their target price on Facebook from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, January 28th. Finally, Piper Sandler lifted their price target on Facebook from $275.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, January 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $327.15.
In related news, VP Jennifer Newstead sold 213 shares of the company’s stock in a transaction on Tuesday, January 12th. The stock was sold at an average price of $256.28, for a total value of $54,587.64. Following the completion of the transaction, the vice president now directly owns 1,379 shares in the company, valued at $353,410.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David M. Wehner sold 678 shares of the company’s stock in a transaction on Friday, March 19th. The shares were sold at an average price of $289.99, for a total value of $196,613.22. Following the completion of the transaction, the chief financial officer now owns 34,425 shares of the company’s stock, valued at $9,982,905.75. The disclosure for this sale can be found here. Insiders sold 1,436,094 shares of company stock worth $390,590,898 over the last 90 days. Company insiders own 14.14% of the company’s stock.
Shares of NASDAQ:FB opened at $313.09 on Thursday. Facebook, Inc. has a 52-week low of $167.74 and a 52-week high of $314.25. The stock’s fifty day simple moving average is $275.55 and its 200-day simple moving average is $271.28. The company has a market capitalization of $891.58 billion, a P/E ratio of 35.66, a P/E/G ratio of 1.29 and a beta of 1.18.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, January 27th. The social networking company reported $3.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $0.64. Facebook had a return on equity of 23.27% and a net margin of 32.00%. The business had revenue of $28.10 million for the quarter, compared to the consensus estimate of $26.43 billion. During the same period in the prior year, the business earned $2.56 earnings per share. The business’s revenue was up 33.2% on a year-over-year basis. Sell-side analysts forecast that Facebook, Inc. will post 9.39 EPS for the current year.
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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