Assenagon Asset Management S.A. grew its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 1,047.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,581,007 shares of the social networking company’s stock after buying an additional 1,443,234 shares during the period. Facebook makes up 3.5% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its largest holding. Assenagon Asset Management S.A. owned about 0.05% of Facebook worth $307,221,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Risk Paradigm Group LLC raised its position in Facebook by 81.4% in the 4th quarter. Risk Paradigm Group LLC now owns 655 shares of the social networking company’s stock valued at $116,000 after buying an additional 294 shares during the last quarter. Trust Department MB Financial Bank N A purchased a new stake in Facebook in the 2nd quarter valued at $134,000. Wagner Wealth Management LLC purchased a new stake in Facebook in the 4th quarter valued at $183,000. Northwest Wealth Management LLC purchased a new stake in Facebook in the 2nd quarter valued at $194,000. Finally, GenWealth Group Inc. purchased a new stake in Facebook in the 2nd quarter valued at $200,000. Hedge funds and other institutional investors own 60.39% of the company’s stock.
In related news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Wednesday, June 27th. The stock was sold at an average price of $199.18, for a total value of $149,385.00. Following the completion of the sale, the vice president now owns 90,865 shares of the company’s stock, valued at approximately $18,098,490.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 493,615 shares of the firm’s stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $195.67, for a total value of $96,585,647.05. The disclosure for this sale can be found here. In the last three months, insiders sold 8,659,413 shares of company stock valued at $1,662,973,880. 16.25% of the stock is currently owned by insiders.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, July 25th. The social networking company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.01). Facebook had a return on equity of 28.16% and a net margin of 39.31%. The firm had revenue of $13.23 billion during the quarter, compared to analysts’ expectations of $13.35 billion. During the same period last year, the business posted $1.32 EPS. The company’s revenue was up 41.9% compared to the same quarter last year. analysts forecast that Facebook, Inc. will post 7.08 earnings per share for the current year.
FB has been the subject of a number of analyst reports. Citigroup lowered Facebook to a “buy” rating and lowered their price target for the company from $220.00 to $210.00 in a research report on Thursday, July 26th. They noted that the move was a valuation call. Credit Suisse Group set a $265.00 price target on Facebook and gave the company a “buy” rating in a research report on Monday, July 16th. Goldman Sachs Group reissued a “buy” rating and issued a $225.00 price target on shares of Facebook in a research report on Monday, July 23rd. Pivotal Research reissued a “sell” rating and issued a $138.00 price target on shares of Facebook in a research report on Friday, June 29th. Finally, BidaskClub raised Facebook from a “hold” rating to a “buy” rating in a research report on Tuesday, July 17th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company. Facebook has an average rating of “Buy” and an average price target of $206.89.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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