Xact Kapitalforvaltning AB increased its stake in Facebook, Inc. (NASDAQ:FB) by 8.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 396,279 shares of the social networking company’s stock after buying an additional 29,899 shares during the period. Facebook comprises about 1.7% of Xact Kapitalforvaltning AB’s portfolio, making the stock its 5th largest position. Xact Kapitalforvaltning AB’s holdings in Facebook were worth $56,291,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. First Financial Corp IN raised its position in Facebook by 0.5% in the first quarter. First Financial Corp IN now owns 2,436 shares of the social networking company’s stock worth $346,000 after buying an additional 11 shares during the period. Enterprise Financial Services Corp raised its position in Facebook by 1.0% in 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. Barrington Strategic Wealth Management Group LLC raised its position in Facebook by 1.3% in the fourth quarter. Barrington Strategic Wealth Management Group LLC now owns 2,015 shares of the social networking company’s stock worth $232,000 after buying an additional 25 shares during the period. Cordasco Financial Network raised its position in Facebook by 1.5% in the first quarter. Cordasco Financial Network now owns 2,029 shares of the social networking company’s stock worth $288,000 after buying an additional 29 shares during the period. Finally, Donald L. Hagan LLC raised its position in Facebook by 0.8% in the first quarter. Donald L. Hagan LLC now owns 4,240 shares of the social networking company’s stock worth $602,000 after buying an additional 35 shares during the period. Institutional investors own 57.62% of the company’s stock.
Shares of Facebook, Inc. (FB) opened at 169.25 on Tuesday. Facebook, Inc. has a 52 week low of $113.55 and a 52 week high of $175.49. The company’s 50-day moving average price is $156.78 and its 200 day moving average price is $145.12. The company has a market cap of $491.54 billion, a P/E ratio of 37.88 and a beta of 0.67.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. The company had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.19 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. Facebook’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.97 earnings per share. Equities research analysts anticipate that Facebook, Inc. will post $5.23 earnings per share for the current fiscal year.
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A number of research firms have commented on FB. UBS AG restated a “buy” rating and issued a $165.00 price target on shares of Facebook in a research report on Wednesday, April 19th. Barclays PLC restated a “neutral” rating on shares of Facebook in a research report on Friday, April 14th. Robert W. Baird restated an “outperform” rating and issued a $163.00 price target on shares of Facebook in a research report on Thursday, May 4th. Vetr raised shares of Facebook from a “hold” rating to a “buy” rating and set a $154.73 target price for the company in a research note on Wednesday, May 17th. Finally, BidaskClub raised shares of Facebook from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, forty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $180.91.
In related news, insider Christopher K. Cox sold 16,000 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $150.05, for a total value of $2,400,800.00. Following the completion of the sale, the insider now owns 165,431 shares of the company’s stock, valued at $24,822,921.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $165.29, for a total value of $123,967.50. Following the completion of the sale, the vice president now directly owns 83,906 shares of the company’s stock, valued at approximately $13,868,822.74. The disclosure for this sale can be found here. Insiders have sold 10,159,966 shares of company stock worth $1,602,037,804 in the last quarter. 19.08% of the stock is currently owned by company insiders.
About Facebook
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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