Copper Rock Capital Partners LLC lifted its stake in Facebook, Inc. (NASDAQ:FB) by 6,224.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,959,790 shares of the social networking company’s stock after acquiring an additional 3,897,184 shares during the quarter. Facebook makes up approximately 2.6% of Copper Rock Capital Partners LLC’s investment portfolio, making the stock its 6th largest position. Copper Rock Capital Partners LLC owned approximately 0.14% of Facebook worth $821,695,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FB. Capital International Investors lifted its stake in Facebook by 14.1% in the first quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock valued at $8,604,068,000 after acquiring an additional 6,394,036 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Facebook by 36.9% in the 1st quarter. Wellington Management Group LLP now owns 15,704,846 shares of the social networking company’s stock valued at $2,619,569,000 after purchasing an additional 4,236,566 shares during the period. Fisher Asset Management LLC lifted its stake in Facebook by 1,141.8% in the 1st quarter. Fisher Asset Management LLC now owns 3,852,395 shares of the social networking company’s stock valued at $642,580,000 after purchasing an additional 3,542,165 shares during the last quarter. Public Investment Fund bought a new position in Facebook during the first quarter worth about $521,859,000. Finally, Advisor Group Holdings Inc. acquired a new position in Facebook during the first quarter worth approximately $96,115,000. Institutional investors and hedge funds own 65.12% of the company’s stock.
Several brokerages have recently commented on FB. Oppenheimer reiterated a “buy” rating and set a $270.00 target price (up from $240.00) on shares of Facebook in a research note on Friday. Loop Capital lifted their price objective on shares of Facebook from $215.00 to $265.00 in a research report on Friday, May 15th. Susquehanna Bancshares increased their price objective on shares of Facebook from $285.00 to $310.00 and gave the company a “positive” rating in a research report on Friday. Credit Suisse Group lifted their target price on shares of Facebook from $305.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Needham & Company LLC assumed coverage on shares of Facebook in a report on Thursday, July 2nd. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $273.37.
Shares of FB stock opened at $253.67 on Friday. The firm has a market capitalization of $668.11 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 1.68 and a beta of 1.19. The company has a current ratio of 4.60, a quick ratio of 4.60 and a debt-to-equity ratio of 0.09. The business’s 50-day moving average price is $235.27 and its 200-day moving average price is $207.59. Facebook, Inc. has a 12 month low of $137.10 and a 12 month high of $255.85.
Facebook (NASDAQ:FB) last posted its earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, topping the 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 the consensus estimate of $17.29 billion. On average, sell-side analysts predict that Facebook, Inc. will post 7.36 earnings per share for the current fiscal year.
In related news, VP Jennifer Newstead sold 194 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $207.43, for a total value of $40,241.42. Following the sale, the vice president now directly owns 406 shares in the company, valued at $84,216.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO David B. Fischer sold 13,103 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $225.21, for a total transaction of $2,950,926.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,591 shares of company stock worth $14,894,825. 14.14% of the stock is owned by company insiders.
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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