Alpha Cubed Investments LLC reduced its stake in shares of Facebook, Inc. (NASDAQ:FB) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,950 shares of the social networking company’s stock after selling 827 shares during the period. Alpha Cubed Investments LLC’s holdings in Facebook were worth $4,823,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in FB. Pillar Pacific Capital Management LLC raised its stake in shares of Facebook by 58.0% in the first quarter. Pillar Pacific Capital Management LLC now owns 13,787 shares of the social networking company’s stock worth $1,959,000 after buying an additional 5,063 shares during the last quarter. Davis Rea LTD. raised its stake in shares of Facebook by 0.5% in the first quarter. Davis Rea LTD. now owns 59,482 shares of the social networking company’s stock worth $8,449,000 after buying an additional 295 shares during the last quarter. Strategic Financial Group LLC purchased a new stake in shares of Facebook during the first quarter worth approximately $207,000. LSV Asset Management raised its stake in shares of Facebook by 6.1% in the first quarter. LSV Asset Management now owns 24,300 shares of the social networking company’s stock worth $3,451,000 after buying an additional 1,400 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Facebook by 1.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,721,199 shares of the social networking company’s stock worth $954,746,000 after buying an additional 71,206 shares during the last quarter. 57.40% of the stock is currently owned by institutional investors and hedge funds.
Facebook, Inc. (FB) traded down 0.85% during trading on Friday, hitting $166.32. The stock had a trading volume of 12,614,477 shares. Facebook, Inc. has a 52-week low of $113.55 and a 52-week high of $175.49. The firm has a market cap of $483.03 billion, a P/E ratio of 37.22 and a beta of 0.70. The company has a 50-day moving average of $166.02 and a 200 day moving average of $150.10.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.19. The company had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. Facebook’s quarterly revenue was up 44.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 EPS. On average, equities research analysts predict that Facebook, Inc. will post $5.33 earnings per share for the current fiscal year.
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FB has been the topic of a number of recent research reports. Needham & Company LLC lifted their price target on Facebook from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Morgan Stanley reissued a “buy” rating and set a $175.00 price target on shares of Facebook in a research note on Thursday, May 4th. Instinet reissued a “buy” rating and set a $165.00 price target on shares of Facebook in a research note on Wednesday, May 3rd. Nomura set a $165.00 price target on Facebook and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $170.00 price target on shares of Facebook in a research note on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have assigned a buy rating and three have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $183.74.
In other news, Director Jan Koum sold 3,600,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $160.06, for a total transaction of $576,216,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter Thiel sold 60,316 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $172.25, for a total transaction of $10,389,431.00. Following the sale, the director now owns 6,311 shares of the company’s stock, valued at approximately $1,087,069.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,430,602 shares of company stock valued at $2,014,783,719. 19.08% of the stock is owned by 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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