Contravisory Investment Management Inc. Sells 3,213 Shares of Facebook, Inc. (FB)

Contravisory Investment Management Inc. cut its position in shares of Facebook, Inc. (NASDAQ:FB) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,776 shares of the social networking company’s stock after selling 3,213 shares during the quarter. Facebook makes up 2.9% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 2nd largest position. Contravisory Investment Management Inc.’s holdings in Facebook were worth $7,968,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Financial Corp IN grew its stake in Facebook by 0.5% during 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 grew its stake in 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 grew its stake 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 buying an additional 25 shares during the period. Keel Point LLC grew its stake in Facebook by 1.5% during the first quarter. Keel Point LLC now owns 2,289 shares of the social networking company’s stock worth $325,000 after buying an additional 34 shares during the period. Finally, Farmers & Merchants Investments Inc. grew its stake in Facebook by 4.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock worth $122,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 57.30% of the company’s stock.

Facebook, Inc. (NASDAQ:FB) traded up 0.43% on Friday, hitting $171.69. The stock had a trading volume of 10,272,206 shares. Facebook, Inc. has a 1-year low of $113.55 and a 1-year high of $175.49. The stock has a 50 day moving average price of $170.07 and a 200 day moving average price of $153.55. The company has a market cap of $498.62 billion, a P/E ratio of 38.43 and a beta of 0.76.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, topping the consensus estimate 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%. The firm’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.97 EPS. On average, equities research analysts expect that Facebook, Inc. will post $5.33 EPS for the current fiscal year.

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In other news, VP Colin Stretch sold 750 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $152.87, for a total transaction of $114,652.50. Following the transaction, the vice president now directly owns 87,656 shares of the company’s stock, valued at approximately $13,399,972.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Sheryl Sandberg sold 131,500 shares of the stock in a transaction on Monday, June 19th. The shares were sold at an average price of $152.65, for a total value of $20,073,475.00. The disclosure for this sale can be found here. Insiders sold a total of 13,109,908 shares of company stock worth $2,140,922,321 over the last ninety days. 19.08% of the stock is currently owned by insiders.

A number of research analysts have recently commented on the stock. Aegis reissued a “buy” rating on shares of Facebook in a research report on Monday, May 22nd. Needham & Company LLC reissued a “buy” rating and set a $165.00 target price on shares of Facebook in a research report on Monday, May 22nd. Instinet reissued a “buy” rating on shares of Facebook in a research report on Friday, June 2nd. Vetr raised shares of Facebook from a “hold” rating to a “buy” rating and set a $157.52 target price on the stock in a research report on Wednesday, May 31st. Finally, Moffett Nathanson reissued a “buy” rating on shares of Facebook in a research report on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have given a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $183.74.

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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.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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