Thornburg Investment Management Inc. Has $185.09 Million Position in Facebook Inc (FB)

Thornburg Investment Management Inc. increased its position in shares of Facebook Inc (NASDAQ:FB) by 70.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,083,223 shares of the social networking company’s stock after acquiring an additional 447,280 shares during the quarter. Facebook makes up approximately 1.3% of Thornburg Investment Management Inc.’s holdings, making the stock its 22nd biggest holding. Thornburg Investment Management Inc.’s holdings in Facebook were worth $185,090,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FB. Beach Investment Management LLC. boosted its holdings in shares of Facebook by 999.7% in the 2nd quarter. Beach Investment Management LLC. now owns 121,630 shares of the social networking company’s stock valued at $18,364,000 after purchasing an additional 110,570 shares during the last quarter. Davis R M Inc. boosted its holdings in shares of Facebook by 28.5% in the 2nd quarter. Davis R M Inc. now owns 142,411 shares of the social networking company’s stock valued at $21,501,000 after purchasing an additional 31,592 shares during the last quarter. Palisade Capital Management LLC NJ boosted its holdings in shares of Facebook by 2.4% in the 2nd quarter. Palisade Capital Management LLC NJ now owns 25,857 shares of the social networking company’s stock valued at $3,904,000 after purchasing an additional 602 shares during the last quarter. Northstar Wealth Partners LLC boosted its holdings in shares of Facebook by 7.5% in the 2nd quarter. Northstar Wealth Partners LLC now owns 3,232 shares of the social networking company’s stock valued at $496,000 after purchasing an additional 225 shares during the last quarter. Finally, Advisor Partners LLC boosted its holdings in shares of Facebook by 12.7% in the 2nd quarter. Advisor Partners LLC now owns 39,014 shares of the social networking company’s stock valued at $5,890,000 after purchasing an additional 4,398 shares during the last quarter. Hedge funds and other institutional investors own 57.32% of the company’s stock.

A number of equities analysts have weighed in on FB shares. Barclays lifted their price target on shares of Facebook from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. Needham & Company LLC lifted their price target on shares of Facebook from $185.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Wedbush set a $225.00 target price on shares of Facebook and gave the company a “buy” rating in a research note on Monday, October 30th. Morgan Stanley set a $215.00 target price on shares of Facebook and gave the company a “buy” rating in a research note on Friday, January 12th. Finally, Atlantic Securities set a $215.00 target price on shares of Facebook and gave the company a “buy” rating in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, forty-two have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $214.70.

Shares of Facebook Inc (FB) opened at $177.36 on Monday. Facebook Inc has a one year low of $132.90 and a one year high of $195.32. The stock has a market cap of $515,230.81, a price-to-earnings ratio of 32.91, a P/E/G ratio of 0.92 and a beta of 0.59.

Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, January 31st. The social networking company reported $2.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.24. Facebook had a net margin of 39.16% and a return on equity of 26.49%. The firm had revenue of $12.97 billion for the quarter, compared to the consensus estimate of $12.58 billion. analysts predict that Facebook Inc will post 7.28 earnings per share for the current year.

In other Facebook news, CEO Mark Zuckerberg sold 232,138 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $183.08, for a total transaction of $42,499,825.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David M. Wehner sold 15,470 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $179.05, for a total transaction of $2,769,903.50. Following the transaction, the chief financial officer now directly owns 67,539 shares of the company’s stock, valued at $12,092,857.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,048,504 shares of company stock valued at $187,788,522. 17.23% of the stock is owned by company insiders.

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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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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