Neumann Advisory Hong Kong Ltd trimmed its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 15.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 320,000 shares of the social networking company’s stock after selling 60,000 shares during the period. Facebook makes up approximately 24.1% of Neumann Advisory Hong Kong Ltd’s holdings, making the stock its 2nd largest position. Neumann Advisory Hong Kong Ltd’s holdings in Facebook were worth $72,662,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of FB. Sowa Financial Group Inc. bought a new position in shares of Facebook in the fourth quarter worth approximately $42,000. FSA Wealth Management LLC purchased a new position in Facebook in the 4th quarter worth approximately $44,000. HHM Wealth Advisors LLC bought a new position in Facebook in the 1st quarter valued at approximately $41,000. Lionsbridge Wealth Management LLC purchased a new stake in Facebook during the 4th quarter valued at $54,000. Finally, Elmwood Wealth Management Inc. purchased a new stake in Facebook during the 1st quarter valued at $46,000. Institutional investors own 65.14% of the company’s stock.
In other Facebook news, VP Jennifer Newstead sold 970 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $207.75, for a total value of $201,517.50. Following the completion of the transaction, the vice president now directly owns 600 shares in the company, valued at $124,650. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO David B. Fischer sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $205.29, for a total transaction of $4,516,380.00. Following the sale, the executive now owns 57,503 shares in the company, valued at approximately $11,804,790.87. The disclosure for this sale can be found here. Insiders sold a total of 69,076 shares of company stock valued at $14,963,286 over the last three months. 14.14% of the stock is owned by corporate insiders.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, April 29th. The social networking company reported $1.71 EPS for the quarter, missing the Zacks’ consensus estimate of $1.78 by ($0.07). Facebook had a return on equity of 21.54% and a net margin of 28.57%. The firm had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $17.25 billion. During the same period in the prior year, the firm posted $1.89 EPS. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, analysts predict that Facebook, Inc. will post 7.19 EPS for the current fiscal year.
Several analysts recently commented on FB shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $244.00 price objective on shares of Facebook in a report on Tuesday, June 30th. Monness Crespi & Hardt decreased their price target on Facebook from $260.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Tigress Financial restated a “buy” rating on shares of Facebook in a research report on Monday, March 30th. Nomura Instinet upped their price objective on Facebook from $253.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Argus upped their price objective on Facebook from $220.00 to $240.00 in a research report on Monday, May 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and forty-two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $248.45.
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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