Handelsbanken Fonder AB Takes $126.14 Million Position in Facebook, Inc. (NASDAQ:FB)

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Handelsbanken Fonder AB purchased a new stake in shares of Facebook, Inc. (NASDAQ:FB) in the second quarter, HoldingsChannel.com reports. The fund purchased 555,499 shares of the social networking company’s stock, valued at approximately $126,137,000. Facebook comprises 1.1% of Handelsbanken Fonder AB’s investment portfolio, making the stock its 15th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Watson Rebecca purchased a new stake in Facebook in the 2nd quarter worth approximately $25,000. JJJ Advisors Inc. grew its stake in shares of Facebook by 262.5% during the 2nd quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock valued at $33,000 after buying an additional 105 shares during the period. HHM Wealth Advisors LLC purchased a new stake in shares of Facebook during the 1st quarter valued at $41,000. Elmwood Wealth Management Inc. purchased a new stake in shares of Facebook during the 1st quarter valued at $46,000. Finally, Virtus Alternative Investment Advisers Inc. purchased a new stake in shares of Facebook during the 2nd quarter valued at $47,000. 65.31% of the stock is owned by institutional investors and hedge funds.

FB has been the subject of several research reports. Mizuho boosted their price objective on shares of Facebook from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Needham & Company LLC initiated coverage on shares of Facebook in a report on Thursday, July 2nd. They set a “hold” rating on the stock. BofA Securities lifted their target price on shares of Facebook from $265.00 to $290.00 and gave the company a “buy” rating in a report on Friday, July 31st. BMO Capital Markets lifted their target price on shares of Facebook from $220.00 to $225.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Finally, Argus lifted their target price on shares of Facebook from $270.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $281.33.

In other Facebook news, CTO Michael Todd Schroepfer sold 112 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $262.09, for a total value of $29,354.08. Following the completion of the transaction, the chief technology officer now owns 498,238 shares in the company, valued at approximately $130,583,197.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO David B. Fischer sold 13,110 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $293.95, for a total transaction of $3,853,684.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,669 shares of company stock valued at $9,039,215. Insiders own 14.14% of the company’s stock.

Shares of NASDAQ:FB traded up $4.71 during trading on Tuesday, reaching $270.86. 657,975 shares of the company’s stock traded hands, compared to its average volume of 23,877,611. Facebook, Inc. has a 12 month low of $137.10 and a 12 month high of $304.67. The company has a 50 day moving average of $266.83 and a 200-day moving average of $220.09. The stock has a market capitalization of $758.21 billion, a P/E ratio of 33.25, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.36. Facebook had a net margin of 31.29% and a return on equity of 22.90%. The business had revenue of $18.69 billion during the quarter, compared to the consensus estimate of $17.29 billion. On average, research analysts anticipate that Facebook, Inc. will post 8.06 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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