RiverPark Advisors LLC cut its position in shares of Facebook, Inc. (NASDAQ:FB) by 33.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,828 shares of the social networking company’s stock after selling 22,235 shares during the period. Facebook accounts for about 0.8% of RiverPark Advisors LLC’s investment portfolio, making the stock its 22nd largest position. RiverPark Advisors LLC’s holdings in Facebook were worth $6,617,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Hartford Financial Management Inc. raised its position in shares of Facebook by 1.1% during the second quarter. Hartford Financial Management Inc. now owns 1,488 shares of the social networking company’s stock worth $224,000 after acquiring an additional 16 shares during the last quarter. Enterprise Financial Services Corp boosted its position in shares of Facebook by 1.0% during the first quarter. Enterprise Financial Services Corp now owns 2,124 shares of the social networking company’s stock worth $302,000 after buying an additional 21 shares during the period. Wagner Bowman Management Corp raised its holdings in Facebook by 0.5% during the second quarter. Wagner Bowman Management Corp now owns 4,997 shares of the social networking company’s stock worth $754,000 after acquiring an additional 25 shares in the last quarter. Dumont & Blake Investment Advisors LLC raised its holdings in Facebook by 2.1% during the second quarter. Dumont & Blake Investment Advisors LLC now owns 1,470 shares of the social networking company’s stock worth $222,000 after acquiring an additional 30 shares in the last quarter. Finally, Keel Point LLC raised its stake in Facebook by 1.5% in the first quarter. Keel Point LLC now owns 2,289 shares of the social networking company’s stock valued at $325,000 after buying an additional 34 shares during the period. 57.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of Facebook, Inc. (FB) traded down $0.23 during midday trading on Monday, reaching $178.23. The company’s stock had a trading volume of 2,951,883 shares, compared to its average volume of 16,976,990. Facebook, Inc. has a 1 year low of $113.55 and a 1 year high of $182.90. The firm has a market capitalization of $519,160.00, a price-to-earnings ratio of 34.38, a PEG ratio of 1.14 and a beta of 0.67.
Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $9.84 billion. During the same period last year, the company earned $1.09 earnings per share. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. research analysts anticipate that Facebook, Inc. will post 5.81 EPS for the current year.
In other news, insider Christopher K. Cox sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $180.27, for a total transaction of $2,884,320.00. Following the completion of the sale, the insider now directly owns 49,816 shares of the company’s stock, valued at approximately $8,980,330.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $171.15, for a total value of $128,362.50. Following the completion of the transaction, the vice president now directly owns 90,087 shares in the company, valued at $15,418,390.05. The disclosure for this sale can be found here. In the last three months, insiders sold 8,093,636 shares of company stock valued at $1,405,118,200. Company insiders own 19.08% of the company’s stock.
Several research firms have recently commented on FB. Robert W. Baird reaffirmed an “outperform” rating and issued a $185.00 target price (up previously from $163.00) on shares of Facebook in a research report on Thursday, July 27th. Mizuho reiterated a “buy” rating on shares of Facebook in a research note on Monday, August 7th. MKM Partners reaffirmed a “buy” rating and set a $200.00 target price (up from $180.00) on shares of Facebook in a research report on Monday, August 7th. Pivotal Research lowered Facebook from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $185.00 target price (up from $165.00) on shares of Facebook in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-three have given a buy rating and two have given a strong buy rating to the stock. Facebook has a consensus rating of “Buy” and an average target price of $197.95.
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.
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