David Loasby lessened its stake in Facebook, Inc. (NASDAQ:FB) by 7.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,540 shares of the social networking company’s stock after selling 123 shares during the quarter. David Loasby’s holdings in Facebook were worth $403,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Copper Rock Capital Partners LLC grew its position in Facebook by 6,224.9% in the second quarter. Copper Rock Capital Partners LLC now owns 3,959,790 shares of the social networking company’s stock valued at $821,695,000 after acquiring an additional 3,897,184 shares during the last quarter. GQG Partners LLC bought a new stake in shares of Facebook during the 2nd quarter valued at approximately $590,767,000. Bank of New York Mellon Corp increased its position in Facebook by 11.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 24,179,742 shares of the social networking company’s stock worth $5,490,495,000 after purchasing an additional 2,431,190 shares in the last quarter. Jennison Associates LLC lifted its stake in Facebook by 16.6% in the 2nd quarter. Jennison Associates LLC now owns 14,807,293 shares of the social networking company’s stock valued at $3,362,292,000 after purchasing an additional 2,110,327 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Facebook by 108.0% in the 2nd quarter. Nordea Investment Management AB now owns 3,619,692 shares of the social networking company’s stock valued at $794,884,000 after purchasing an additional 1,879,792 shares during the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on FB. JMP Securities increased their price target on Facebook from $250.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Rosenblatt Securities lifted their price target on Facebook from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, July 31st. BidaskClub raised Facebook from a “hold” rating to a “buy” rating in a research note on Monday. Morgan Stanley lifted their target price on shares of Facebook from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, September 18th. Finally, JPMorgan Chase & Co. upped their price target on shares of Facebook from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $284.28.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.36. The business had revenue of $18.69 billion during the quarter, compared to the consensus estimate of $17.29 billion. Facebook had a return on equity of 22.90% and a net margin of 31.29%. Equities research analysts forecast that Facebook, Inc. will post 8.12 EPS for the current fiscal year.
In related news, VP Jennifer Newstead sold 426 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $295.54, for a total transaction of $125,900.04. Following the transaction, the vice president now directly owns 4,286 shares in the company, valued at $1,266,684.44. The transaction was disclosed in a filing with the SEC, which can be accessed 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. Insiders sold 34,061 shares of company stock worth $9,439,090 in the last 90 days. Corporate insiders own 14.14% of the company’s stock.
Facebook Company Profile
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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