First Interstate Bank Lowers Holdings in Facebook, Inc. (FB)

First Interstate Bank decreased its position in shares of Facebook, Inc. (NASDAQ:FB) by 4.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,994 shares of the social networking company’s stock after selling 1,584 shares during the period. First Interstate Bank’s holdings in Facebook were worth $4,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Harbour Capital Advisors LLC increased its holdings in shares of Facebook by 15,047.5% in the second quarter. Harbour Capital Advisors LLC now owns 2,540,691 shares of the social networking company’s stock worth $16,828,000 after buying an additional 2,523,918 shares during the period. State Street Corp increased its holdings in shares of Facebook by 1.7% in the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock worth $13,262,607,000 after buying an additional 1,536,158 shares during the period. HPM Partners LLC purchased a new position in shares of Facebook in the first quarter worth about $195,602,000. Jennison Associates LLC increased its holdings in shares of Facebook by 6.4% in the second quarter. Jennison Associates LLC now owns 20,336,932 shares of the social networking company’s stock worth $3,070,470,000 after buying an additional 1,219,412 shares during the period. Finally, Alecta Pensionsforsakring Omsesidigt increased its holdings in shares of Facebook by 131.8% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,970,000 shares of the social networking company’s stock worth $279,838,000 after buying an additional 1,120,000 shares during the period. Institutional investors and hedge funds own 57.35% of the company’s stock.

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Several research analysts have recently commented on the company. Robert W. Baird reiterated an “outperform” rating and issued a $185.00 price objective (up previously from $163.00) on shares of Facebook in a report on Thursday, July 27th. Mizuho reiterated a “buy” rating on shares of Facebook in a report on Monday, August 7th. MKM Partners reissued a “buy” rating and issued a $200.00 target price (up from $180.00) on shares of Facebook in a research note on Monday, August 7th. Pivotal Research cut Facebook from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $190.00 target price (up from $180.00) on shares of Facebook in a research note on Thursday, July 27th. 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 company. Facebook has an average rating of “Buy” and a consensus target price of $197.95.

In other news, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $168.25, for a total transaction of $126,187.50. Following the transaction, the vice president now directly owns 96,341 shares in the company, valued at $16,209,373.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Todd Schroepfer sold 38,055 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $172.60, for a total transaction of $6,568,293.00. Following the transaction, the insider now owns 533,937 shares in the company, valued at $92,157,526.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,762,164 shares of company stock worth $1,015,885,901. Insiders own 19.08% of the company’s stock.

Facebook, Inc. (FB) opened at $179.00 on Friday. Facebook, Inc. has a 1 year low of $114.00 and a 1 year high of $182.90. The company has a market cap of $520,139.66, a P/E ratio of 34.49, a PEG ratio of 1.14 and a beta of 0.67.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.31. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The firm had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $9.84 billion. During the same period last year, the firm earned $1.09 earnings per share. The company’s quarterly revenue was up 47.3% on a year-over-year basis. analysts predict that Facebook, Inc. will post 5.86 EPS for the current fiscal year.

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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