Confluence Wealth Management LLC Has $1.63 Million Position in Facebook, Inc. (NASDAQ:FB)

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Confluence Wealth Management LLC boosted its position in shares of Facebook, Inc. (NASDAQ:FB) by 7.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,176 shares of the social networking company’s stock after buying an additional 621 shares during the quarter. Confluence Wealth Management LLC’s holdings in Facebook were worth $1,634,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. AE Wealth Management LLC lifted its position in Facebook by 42.6% during the 2nd quarter. AE Wealth Management LLC now owns 82,420 shares of the social networking company’s stock valued at $18,715,000 after purchasing an additional 24,635 shares during the period. Sarasin & Partners LLP increased its stake in shares of Facebook by 223.4% in the 2nd quarter. Sarasin & Partners LLP now owns 256,493 shares of the social networking company’s stock valued at $58,242,000 after acquiring an additional 177,179 shares in the last quarter. UBP Investment Advisors SA acquired a new position in shares of Facebook during the 3rd quarter valued at $210,000. Foundations Investment Advisors LLC boosted its stake in Facebook by 7.8% during the third quarter. Foundations Investment Advisors LLC now owns 7,764 shares of the social networking company’s stock worth $2,018,000 after acquiring an additional 563 shares in the last quarter. Finally, Clarius Group LLC grew its holdings in Facebook by 3.8% in the third quarter. Clarius Group LLC now owns 41,396 shares of the social networking company’s stock worth $10,842,000 after purchasing an additional 1,521 shares during the period. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently commented on FB shares. Mizuho boosted their target price on Facebook from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Monday. Needham & Company LLC started coverage on Facebook in a research report on Thursday, July 2nd. They issued a “hold” rating for the company. HSBC boosted their target price on Facebook from $190.00 to $195.00 and gave the company a “reduce” rating in a research report on Wednesday, August 5th. UBS Group lifted their price target on Facebook from $242.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Finally, Goldman Sachs Group set a $303.00 price target on Facebook and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $284.07.

In related news, VP Jennifer Newstead sold 194 shares of Facebook stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $234.76, for a total value of $45,543.44. Following the transaction, the vice president now owns 1,918 shares in the company, valued at approximately $450,269.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Michael Todd Schroepfer sold 112 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $262.09, for a total transaction of $29,354.08. Following the completion of the sale, the chief technology officer now directly owns 498,238 shares of the company’s stock, valued at $130,583,197.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,255 shares of company stock valued at $9,484,634. 14.14% of the stock is owned by insiders.

NASDAQ:FB traded down $7.68 during midday trading on Monday, hitting $277.11. The company had a trading volume of 21,226,251 shares, compared to its average volume of 23,384,955. The stock’s fifty day moving average price is $265.10 and its 200-day moving average price is $238.00. Facebook, Inc. has a 52-week low of $137.10 and a 52-week high of $304.67. The company has a market capitalization of $789.44 billion, a PE ratio of 33.68, a P/E/G ratio of 1.71 and a beta of 1.29.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.36. The firm had revenue of $18.69 billion during the quarter, compared to analysts’ expectations of $17.29 billion. Facebook had a return on equity of 22.90% and a net margin of 31.29%. On average, sell-side analysts predict that Facebook, Inc. will post 8.12 earnings per share for the current year.

About Facebook

Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used 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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