Edge Asset Management Inc. reduced its stake in shares of Facebook Inc (NASDAQ:FB) by 18.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 246,208 shares of the social networking company’s stock after selling 54,271 shares during the period. Edge Asset Management Inc.’s holdings in Facebook were worth $28,326,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Hemenway Trust Co LLC bought a new stake in shares of Facebook during the fourth quarter worth about $109,000. GFI Investment Counsel Ltd. bought a new stake in shares of Facebook during the fourth quarter worth about $115,000. Farmers & Merchants Investments Inc. boosted its stake in shares of Facebook by 11.9% in the third quarter. Farmers & Merchants Investments Inc. now owns 901 shares of the social networking company’s stock worth $116,000 after buying an additional 96 shares in the last quarter. Jacobus Wealth Management Inc. bought a new stake in shares of Facebook during the third quarter worth about $121,000. Finally, Orinda Asset Management LLC bought a new stake in shares of Facebook during the third quarter worth about $126,000. Hedge funds and other institutional investors own 57.00% of the company’s stock.
Shares of Facebook Inc (NASDAQ:FB) opened at 140.34 on Friday. The firm has a market cap of $405.58 billion, a PE ratio of 40.18 and a beta of 0.68. Facebook Inc has a 52 week low of $106.31 and a 52 week high of $142.31. The firm has a 50-day moving average price of $136.46 and a 200-day moving average price of $127.77.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, February 1st. The social networking company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.10. Facebook had a return on equity of 19.05% and a net margin of 34.33%. The company earned $8.81 billion during the quarter, compared to analyst estimates of $8.47 billion. During the same quarter in the previous year, the company posted $0.79 EPS. Facebook’s revenue for the quarter was up 50.8% on a year-over-year basis. On average, equities research analysts predict that Facebook Inc will post $5.42 earnings per share for the current year.
A number of brokerages have recently issued reports on FB. FBN Securities set a $175.00 price objective on Facebook and gave the stock a “buy” rating in a research note on Thursday, February 2nd. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $144.00 price objective on shares of Facebook in a research note on Tuesday, January 10th. Deutsche Bank AG upped their price objective on Facebook to $155.00 in a research note on Thursday, February 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price objective on shares of Facebook in a research note on Monday, March 6th. Finally, MKM Partners reiterated a “buy” rating and set a $150.00 price objective on shares of Facebook in a research note on Thursday, December 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, forty-one have assigned a buy rating and four have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $155.49.
In other Facebook news, CEO Mark Zuckerberg sold 386,116 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $135.97, for a total transaction of $52,500,192.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jan Koum sold 88,332 shares of the company’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $140.01, for a total value of $12,367,363.32. The disclosure for this sale can be found here. In the last three months, insiders sold 4,837,574 shares of company stock valued at $667,200,263. 19.08% of the stock is currently owned by corporate insiders.
Facebook Company Profile
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook Inc (NASDAQ:FB).
Receive News & Ratings for Facebook Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook Inc and related companies with MarketBeat.com's FREE daily email newsletter.