Chicago Capital LLC boosted its position in shares of Facebook, Inc. (NASDAQ:FB) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,894 shares of the social networking company’s stock after acquiring an additional 536 shares during the period. Facebook comprises 2.4% of Chicago Capital LLC’s investment portfolio, making the stock its 14th biggest holding. Chicago Capital LLC’s holdings in Facebook were worth $42,211,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Point View Wealth Management Inc. purchased a new stake in shares of Facebook during the 2nd quarter worth approximately $248,000. Intact Investment Management Inc. lifted its position in shares of Facebook by 4.2% during the 2nd quarter. Intact Investment Management Inc. now owns 15,000 shares of the social networking company’s stock worth $3,406,000 after buying an additional 600 shares during the last quarter. Martin Investment Management LLC lifted its position in shares of Facebook by 1.5% during the 2nd quarter. Martin Investment Management LLC now owns 32,990 shares of the social networking company’s stock worth $7,491,000 after buying an additional 498 shares during the last quarter. GWM Advisors LLC lifted its position in shares of Facebook by 40.4% during the 2nd quarter. GWM Advisors LLC now owns 63,576 shares of the social networking company’s stock worth $14,436,000 after buying an additional 18,293 shares during the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management lifted its position in shares of Facebook by 7.2% during the 2nd quarter. B & T Capital Management DBA Alpha Capital Management now owns 16,288 shares of the social networking company’s stock worth $3,699,000 after buying an additional 1,087 shares during the last quarter. Institutional investors own 65.12% of the company’s stock.
Several brokerages have recently weighed in on FB. Susquehanna Bancshares boosted their price objective on shares of Facebook from $285.00 to $310.00 and gave the stock a “positive” rating in a research report on Friday. Canaccord Genuity restated a “buy” rating and set a $290.00 price objective (up previously from $275.00) on shares of Facebook in a research report on Friday. Jefferies Financial Group boosted their price objective on shares of Facebook from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday. Cfra downgraded shares of Facebook from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, UBS Group set a $242.00 price target on shares of Facebook and gave the company a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $273.37.
In related news, CFO David M. Wehner sold 11,764 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $231.66, for a total value of $2,725,248.24. Following the sale, the chief financial officer now directly owns 19,412 shares of the company’s stock, valued at approximately $4,496,983.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jennifer Newstead sold 194 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $207.43, for a total transaction of $40,241.42. Following the completion of the sale, the vice president now directly owns 406 shares in the company, valued at $84,216.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,591 shares of company stock worth $14,894,825. 14.14% of the stock is owned by corporate insiders.
NASDAQ:FB opened at $253.67 on Friday. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.09. Facebook, Inc. has a fifty-two week low of $137.10 and a fifty-two week high of $255.85. The stock has a market cap of $668.11 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The firm’s fifty day simple moving average is $235.27 and its 200-day simple moving average is $207.59.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.36. Facebook had a net margin of 31.29% and a return on equity of 23.49%. The business had revenue of $18.69 billion for the quarter, compared to analysts’ expectations of $17.29 billion. Equities analysts anticipate that Facebook, Inc. will post 7.36 earnings per share for the current year.
Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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