Torray LLC Lowers Stake in Facebook, Inc. (FB)

Torray LLC trimmed its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 15.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 152,188 shares of the social networking company’s stock after selling 27,288 shares during the period. Facebook makes up approximately 2.4% of Torray LLC’s investment portfolio, making the stock its 4th largest holding. Torray LLC’s holdings in Facebook were worth $22,977,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Enterprise Financial Services Corp grew its holdings 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 acquiring an additional 21 shares during the period. Wetherby Asset Management Inc. grew its holdings in Facebook by 0.7% during the first quarter. Wetherby Asset Management Inc. now owns 46,099 shares of the social networking company’s stock worth $6,548,000 after acquiring an additional 336 shares during the period. Perennial Advisors LLC grew its holdings in Facebook by 25.6% during the first quarter. Perennial Advisors LLC now owns 15,743 shares of the social networking company’s stock worth $2,236,000 after acquiring an additional 3,208 shares during the period. Seatown Holdings Pte. Ltd. grew its holdings in Facebook by 147.0% during the first quarter. Seatown Holdings Pte. Ltd. now owns 296,351 shares of the social networking company’s stock worth $42,097,000 after acquiring an additional 176,351 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD grew its holdings in Facebook by 12.4% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,110,070 shares of the social networking company’s stock worth $157,685,000 after acquiring an additional 122,363 shares during the period. 57.35% of the stock is currently owned by institutional investors.

Facebook, Inc. (FB) opened at $178.77 on Tuesday. The firm has a market capitalization of $518,570.53, a PE ratio of 34.38, a PEG ratio of 1.14 and a beta of 0.67. Facebook, Inc. has a 52-week low of $113.55 and a 52-week high of $182.90.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.31. The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. Facebook’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 earnings per share. equities research analysts predict that Facebook, Inc. will post 5.81 EPS for the current fiscal year.

A number of research firms recently issued reports on FB. Canaccord Genuity lifted their target price on Facebook from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Cowen and Company reiterated an “outperform” rating and issued a $195.00 price target on shares of Facebook in a research report on Thursday, August 10th. Citigroup Inc. reiterated a “buy” rating and issued a $200.00 price target on shares of Facebook in a research report on Wednesday, September 27th. Zacks Investment Research lowered Facebook from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Finally, Pivotal Research lowered Facebook from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-three have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $197.95.

In related news, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $168.25, for a total transaction of $126,187.50. Following the completion of the transaction, the vice president now directly owns 96,341 shares of the company’s stock, valued at $16,209,373.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David B. Fischer sold 4,699 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $171.53, for a total value of $806,019.47. The disclosure for this sale can be found here. Insiders have sold 7,843,902 shares of company stock valued at $1,362,490,758 over the last ninety days. 19.08% of the stock is owned by insiders.

TRADEMARK VIOLATION NOTICE: This article was first published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this article on another publication, it was illegally stolen and republished in violation of US and international trademark and copyright legislation. The original version of this article can be viewed at https://www.chaffeybreeze.com/2017/11/14/torray-llc-lowers-stake-in-facebook-inc-fb.html.

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.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Receive News & Ratings for Facebook Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply