Turim 21 Investimentos Ltda. grew its position in Facebook, Inc. (NASDAQ:FB) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,225 shares of the social networking company’s stock after purchasing an additional 805 shares during the quarter. Facebook comprises approximately 5.0% of Turim 21 Investimentos Ltda.’s investment portfolio, making the stock its 8th biggest position. Turim 21 Investimentos Ltda.’s holdings in Facebook were worth $9,565,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of FB. Alps Advisors Inc. boosted its stake in shares of Facebook by 2.5% in the second quarter. Alps Advisors Inc. now owns 32,017 shares of the social networking company’s stock valued at $6,222,000 after buying an additional 786 shares during the period. Adviser Investments LLC boosted its stake in shares of Facebook by 869.4% in the second quarter. Adviser Investments LLC now owns 51,553 shares of the social networking company’s stock valued at $10,018,000 after buying an additional 46,235 shares during the period. Inverness Counsel LLC NY boosted its stake in shares of Facebook by 3.9% in the second quarter. Inverness Counsel LLC NY now owns 212,301 shares of the social networking company’s stock valued at $41,254,000 after buying an additional 8,012 shares during the period. Jennison Associates LLC boosted its stake in shares of Facebook by 9.9% in the second quarter. Jennison Associates LLC now owns 15,147,053 shares of the social networking company’s stock valued at $2,943,375,000 after buying an additional 1,360,607 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in Facebook by 3.5% during the second quarter. CIBC Private Wealth Group LLC now owns 846,755 shares of the social networking company’s stock worth $164,543,000 after purchasing an additional 28,784 shares during the last quarter. 60.25% of the stock is currently owned by institutional investors.
In other Facebook news, CFO David M. Wehner sold 9,522 shares of Facebook stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $180.20, for a total transaction of $1,715,864.40. Following the transaction, the chief financial officer now owns 77,302 shares of the company’s stock, valued at approximately $13,929,820.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 420,000 shares of Facebook stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $182.64, for a total transaction of $76,708,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,990,832 shares of company stock worth $525,285,785. 16.25% of the stock is owned by insiders.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.30. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The business had revenue of $13.73 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter last year, the firm earned $1.59 EPS. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year. On average, equities analysts expect that Facebook, Inc. will post 7.32 earnings per share for the current year.
FB has been the subject of several recent analyst reports. JPMorgan Chase & Co. restated a “$210.91” rating and set a $242.00 target price on shares of Facebook in a research note on Monday, July 23rd. Citigroup upped their target price on Facebook to $235.00 and gave the stock a “buy” rating in a research note on Friday, July 20th. Stifel Nicolaus upped their target price on Facebook from $202.00 to $242.00 and gave the stock a “buy” rating in a research note on Friday, July 20th. Zacks Investment Research upgraded Facebook from a “hold” rating to a “buy” rating and set a $232.00 target price for the company in a research note on Tuesday, July 17th. Finally, BidaskClub upgraded Facebook from a “hold” rating to a “buy” rating in a research note on Tuesday, July 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. Facebook currently has an average rating of “Buy” and a consensus price target of $194.54.
Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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