ING Groep NV increased its position in shares of Facebook, Inc. (NASDAQ:FB) by 48.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 551,929 shares of the social networking company’s stock after buying an additional 179,131 shares during the period. Facebook makes up 1.4% of ING Groep NV’s investment portfolio, making the stock its 14th largest position. ING Groep NV’s holdings in Facebook were worth $78,402,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Arcadia Investment Management Corp MI increased its stake in shares of Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after buying an additional 120 shares during the last quarter. Cohen Capital Management Inc. acquired a new stake in shares of Facebook during the first quarter valued at $121,000. Cable Hill Partners LLC increased its stake in shares of Facebook by 9.5% in the first quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock valued at $129,000 after buying an additional 79 shares during the last quarter. Viking Fund Management LLC acquired a new stake in shares of Facebook during the first quarter valued at $142,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Facebook during the first quarter valued at $180,000. Institutional investors and hedge funds own 57.40% of the company’s stock.
Shares of Facebook, Inc. (NASDAQ:FB) traded down 0.53% on Friday, reaching $166.85. 4,306,555 shares of the company’s stock were exchanged. The company has a market capitalization of $484.57 billion, a P/E ratio of 37.34 and a beta of 0.70. Facebook, Inc. has a 1-year low of $113.55 and a 1-year high of $175.49. The stock’s 50-day moving average price is $165.53 and its 200-day moving average price is $149.85.
Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.19. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The company had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The company’s revenue was up 44.8% on a year-over-year basis. Analysts anticipate that Facebook, Inc. will post $5.33 EPS for the current fiscal year.
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Several equities research analysts have recently weighed in on FB shares. Needham & Company LLC increased their price target on Facebook from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Morgan Stanley reiterated a “buy” rating and issued a $175.00 price target on shares of Facebook in a report on Thursday, May 4th. Instinet reiterated a “buy” rating and issued a $165.00 price target on shares of Facebook in a report on Wednesday, May 3rd. Nomura set a $165.00 price target on Facebook and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $170.00 price target on shares of Facebook in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have issued a buy rating and three have given a strong buy rating to the company’s stock. Facebook currently has an average rating of “Buy” and an average target price of $183.74.
In other news, CFO David M. Wehner sold 15,470 shares of Facebook stock in a transaction on Monday, August 21st. The stock was sold at an average price of $167.16, for a total transaction of $2,585,965.20. Following the completion of the sale, the chief financial officer now owns 62,375 shares of the company’s stock, valued at $10,426,605. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jan Koum sold 3,600,000 shares of Facebook stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $160.06, for a total value of $576,216,000.00. The disclosure for this sale can be found here. Insiders have sold 12,414,304 shares of company stock valued at $2,012,031,313 in the last three months. Insiders own 19.08% of the company’s stock.
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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