Holderness Investments Co. Grows Stock Position in Facebook, Inc. (NASDAQ:FB)

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Holderness Investments Co. boosted its stake in Facebook, Inc. (NASDAQ:FB) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,538 shares of the social networking company’s stock after acquiring an additional 235 shares during the quarter. Holderness Investments Co.’s holdings in Facebook were worth $2,034,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spectrum Management Group Inc. raised its position in shares of Facebook by 135.3% in the 2nd quarter. Spectrum Management Group Inc. now owns 240 shares of the social networking company’s stock valued at $46,000 after purchasing an additional 138 shares in the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Facebook by 2.9% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 26,265 shares of the social networking company’s stock valued at $5,069,000 after purchasing an additional 750 shares in the last quarter. Day & Ennis LLC acquired a new position in shares of Facebook in the 2nd quarter valued at approximately $230,000. Clarius Group LLC raised its position in shares of Facebook by 9.6% in the 2nd quarter. Clarius Group LLC now owns 27,061 shares of the social networking company’s stock valued at $5,223,000 after purchasing an additional 2,368 shares in the last quarter. Finally, Jacobsen Capital Management acquired a new position in shares of Facebook in the 2nd quarter valued at approximately $1,857,000. Hedge funds and other institutional investors own 62.11% of the company’s stock.

In other news, CEO Mark Zuckerberg sold 125,600 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $184.50, for a total value of $23,173,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Susan J.S. Taylor sold 1,472 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $181.89, for a total value of $267,742.08. Following the completion of the transaction, the insider now directly owns 569 shares of the company’s stock, valued at approximately $103,495.41. The disclosure for this sale can be found here. Insiders sold 863,283 shares of company stock worth $160,819,836 over the last ninety days. 14.53% of the stock is owned by corporate insiders.

FB has been the topic of a number of recent analyst reports. ValuEngine lowered Facebook from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird upped their price target on Facebook from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Raymond James upped their price target on Facebook from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. They noted that the move was a valuation call. BidaskClub lowered Facebook from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Pivotal Research reissued a “buy” rating and set a $225.00 price target (up from $220.00) on shares of Facebook in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $220.92.

NASDAQ FB traded up $1.11 during trading hours on Friday, hitting $183.70. The company had a trading volume of 12,654,600 shares, compared to its average volume of 17,631,084. Facebook, Inc. has a fifty-two week low of $123.02 and a fifty-two week high of $208.66. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $194.93 and a 200-day simple moving average of $180.55. The firm has a market cap of $520.92 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 1.07 and a beta of 0.99.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.09. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The firm had revenue of $16.89 billion for the quarter, compared to analyst estimates of $16.49 billion. During the same period last year, the company earned $1.74 earnings per share. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. Equities analysts forecast that Facebook, Inc. will post 7.96 EPS for the current fiscal year.

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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