Cannell Peter B & Co. Inc. Sells 625 Shares of Facebook, Inc. (FB)

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Cannell Peter B & Co. Inc. cut its holdings in Facebook, Inc. (NASDAQ:FB) by 9.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,265 shares of the social networking company’s stock after selling 625 shares during the quarter. Cannell Peter B & Co. Inc.’s holdings in Facebook were worth $1,030,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FB. Lederer & Associates Investment Counsel CA acquired a new position in shares of Facebook during the 2nd quarter worth about $3,408,000. Whittier Trust Co. increased its stake in shares of Facebook by 2.1% during the 2nd quarter. Whittier Trust Co. now owns 119,118 shares of the social networking company’s stock worth $23,147,000 after purchasing an additional 2,439 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Facebook by 15.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 25,486 shares of the social networking company’s stock worth $4,953,000 after purchasing an additional 3,379 shares during the last quarter. Allen Capital Group LLC increased its stake in shares of Facebook by 31.3% during the 2nd quarter. Allen Capital Group LLC now owns 3,259 shares of the social networking company’s stock worth $633,000 after purchasing an additional 776 shares during the last quarter. Finally, Pegasus Partners Ltd. increased its stake in shares of Facebook by 24.6% during the 2nd quarter. Pegasus Partners Ltd. now owns 5,904 shares of the social networking company’s stock worth $1,147,000 after purchasing an additional 1,167 shares during the last quarter. 60.49% of the stock is owned by hedge funds and other institutional investors.

In related news, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $135.12, for a total transaction of $7,431,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Colin Stretch sold 750 shares of the stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $171.21, for a total transaction of $128,407.50. Following the transaction, the vice president now directly owns 93,930 shares in the company, valued at $16,081,755.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 360,149 shares of company stock valued at $50,413,684. 16.25% of the stock is currently owned by corporate insiders.

A number of research analysts recently commented on the stock. CIBC reiterated an “outperform” rating and issued a $195.00 price target (up previously from $185.00) on shares of Facebook in a research note on Thursday, January 31st. Jefferies Financial Group reiterated a “buy” rating and issued a $200.00 price target (up previously from $180.00) on shares of Facebook in a research note on Thursday, January 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $212.00 price target (up previously from $206.00) on shares of Facebook in a research note on Thursday, January 31st. Citigroup reiterated a “buy” rating and issued a $185.00 price target (up previously from $175.00) on shares of Facebook in a research note on Thursday, January 31st. Finally, Bank of America reissued a “buy” rating and issued a $205.00 price objective (up previously from $190.00) on shares of Facebook in a report on Thursday, January 31st. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and forty have assigned a buy rating to the stock. Facebook currently has an average rating of “Buy” and a consensus target price of $190.62.

FB opened at $164.07 on Thursday. Facebook, Inc. has a twelve month low of $123.02 and a twelve month high of $218.62. The firm has a market cap of $479.44 billion, a PE ratio of 21.67, a PEG ratio of 0.98 and a beta of 0.93.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, January 30th. The social networking company reported $2.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.18 by $0.20. Facebook had a net margin of 39.60% and a return on equity of 27.51%. The company had revenue of $16.91 billion during the quarter, compared to analysts’ expectations of $16.40 billion. During the same period in the prior year, the company posted $1.44 earnings per share. Facebook’s revenue for the quarter was up 30.4% compared to the same quarter last year. Research analysts anticipate that Facebook, Inc. will post 7.55 EPS 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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