Iberiabank Corp cut its position in shares of Facebook, Inc. (NASDAQ:FB) by 9.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,718 shares of the social networking company’s stock after selling 1,016 shares during the quarter. Iberiabank Corp’s holdings in Facebook were worth $2,207,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Watson Rebecca purchased a new position in shares of Facebook during the 2nd quarter worth approximately $25,000. JJJ Advisors Inc. grew its holdings in Facebook by 262.5% during the 2nd quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock valued at $33,000 after buying an additional 105 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in Facebook during the first quarter worth $41,000. Elmwood Wealth Management Inc. acquired a new position in shares of Facebook in the first quarter worth $46,000. Finally, NuWave Investment Management LLC lifted its position in shares of Facebook by 1,019.2% in the first quarter. NuWave Investment Management LLC now owns 291 shares of the social networking company’s stock valued at $49,000 after acquiring an additional 265 shares in the last quarter. Institutional investors own 65.12% of the company’s stock.
NASDAQ:FB opened at $253.67 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.60 and a current ratio of 4.60. The company has a market capitalization of $668.11 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. Facebook, Inc. has a one year low of $137.10 and a one year high of $255.85. The stock has a 50-day simple moving average of $235.27 and a 200 day simple moving average of $207.59.
Facebook (NASDAQ:FB) last released its earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.36. Facebook had a return on equity of 23.49% and a net margin of 31.29%. The company had revenue of $18.69 billion for the quarter, compared to the consensus estimate of $17.29 billion. On average, equities research analysts forecast that Facebook, Inc. will post 7.36 EPS for the current fiscal year.
A number of research firms recently commented on FB. Canaccord Genuity reiterated 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. Pivotal Research lifted their price target on shares of Facebook from $225.00 to $275.00 and gave the stock a “hold” rating in a report on Friday. Raymond James upped their price objective on shares of Facebook from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Friday. They noted that the move was a valuation call. Monness Crespi & Hardt raised their target price on shares of Facebook from $230.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Argus lifted their target price on shares of Facebook from $220.00 to $240.00 in a research note on Monday, May 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $273.37.
In other news, CFO David M. Wehner sold 11,764 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $231.66, for a total transaction of $2,725,248.24. Following the sale, the chief financial officer now directly owns 19,412 shares in the company, valued at approximately $4,496,983.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jennifer Newstead sold 194 shares of the firm’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 completion of the sale, the vice president now directly owns 406 shares in the company, valued at approximately $84,216.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,591 shares of company stock valued at $14,894,825. 14.14% of the stock is currently owned by corporate insiders.
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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