Selz Capital LLC acquired a new position in Facebook, Inc. (NASDAQ:FB) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 12,000 shares of the social networking company’s stock, valued at approximately $2,332,000.
Other hedge funds have also modified their holdings of the company. Winslow Evans & Crocker Inc. boosted its position in shares of Facebook by 2.2% during the second quarter. Winslow Evans & Crocker Inc. now owns 12,658 shares of the social networking company’s stock valued at $2,462,000 after purchasing an additional 274 shares in the last quarter. Lenox Wealth Advisors LLC bought a new stake in shares of Facebook during the second quarter valued at approximately $368,000. Guild Investment Management Inc. boosted its position in shares of Facebook by 387.3% during the second quarter. Guild Investment Management Inc. now owns 16,696 shares of the social networking company’s stock valued at $3,244,000 after purchasing an additional 13,270 shares in the last quarter. Smithfield Trust Co. boosted its position in shares of Facebook by 8.8% during the second quarter. Smithfield Trust Co. now owns 4,788 shares of the social networking company’s stock valued at $930,000 after purchasing an additional 389 shares in the last quarter. Finally, Cortland Associates Inc. MO bought a new stake in shares of Facebook during the second quarter valued at approximately $32,100,000. Hedge funds and other institutional investors own 60.39% of the company’s stock.
In other Facebook news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $215.81, for a total transaction of $161,857.50. Following the completion of the sale, the vice president now owns 87,865 shares of the company’s stock, valued at $18,962,145.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 720,000 shares of the business’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $208.56, for a total value of $150,163,200.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,659,413 shares of company stock valued at $1,662,973,880. 16.25% of the stock is owned by company insiders.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 25th. The social networking company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). The firm had revenue of $13.23 billion for the quarter, compared to analysts’ expectations of $13.35 billion. Facebook had a net margin of 39.31% and a return on equity of 28.16%. The firm’s revenue was up 41.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.32 EPS. equities analysts forecast that Facebook, Inc. will post 7.08 EPS for the current year.
FB has been the subject of a number of recent research reports. Raymond James cut Facebook from a “strong-buy” rating to an “outperform” rating and set a $210.00 price objective for the company. in a research note on Thursday, July 26th. Royal Bank of Canada reiterated a “buy” rating and set a $195.00 price objective on shares of Facebook in a research note on Monday, September 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $202.00 price objective on shares of Facebook in a research note on Thursday, August 23rd. MKM Partners lowered their price objective on Facebook to $230.00 and set a “buy” rating for the company in a research note on Thursday, August 2nd. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $220.00 price objective on shares of Facebook in a research note on Thursday, August 23rd. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $206.89.
Facebook Company Profile
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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