Malaga Cove Capital LLC lowered its stake in shares of Facebook, Inc. (NASDAQ:FB) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,880 shares of the social networking company’s stock after selling 105 shares during the quarter. Malaga Cove Capital LLC’s holdings in Facebook were worth $881,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Strategic Wealth Management Group LLC increased its holdings in shares of Facebook by 0.5% during the second quarter. Strategic Wealth Management Group LLC now owns 9,152 shares of the social networking company’s stock valued at $2,078,000 after purchasing an additional 43 shares during the period. Genesee Capital Advisors LLC grew its holdings in Facebook by 1.6% during the second quarter. Genesee Capital Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $632,000 after acquiring an additional 44 shares during the period. Parisi Gray Wealth Management grew its holdings in Facebook by 0.5% during the second quarter. Parisi Gray Wealth Management now owns 9,175 shares of the social networking company’s stock worth $2,087,000 after acquiring an additional 44 shares during the period. Retirement Network grew its holdings in Facebook by 1.4% during the first quarter. Retirement Network now owns 3,519 shares of the social networking company’s stock worth $587,000 after acquiring an additional 48 shares during the period. Finally, Sun Life Financial INC grew its holdings in Facebook by 3.4% during the first quarter. Sun Life Financial INC now owns 1,465 shares of the social networking company’s stock worth $244,000 after acquiring an additional 48 shares during the period. 65.12% of the stock is owned by institutional investors and hedge funds.
In other Facebook news, CFO David M. Wehner sold 11,764 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 19,412 shares in the company, valued at approximately $4,496,983.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO David B. Fischer sold 22,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $205.29, for a total value of $4,516,380.00. Following the transaction, the executive now owns 57,503 shares in the company, valued at approximately $11,804,790.87. 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 corporate insiders.
FB opened at $253.67 on Friday. Facebook, Inc. has a 12-month low of $137.10 and a 12-month high of $255.85. The stock has a market cap 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 business has a 50 day moving average of $235.27 and a 200-day moving average of $207.59. 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 (NASDAQ:FB) last released its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $17.29 billion. As a group, analysts expect that Facebook, Inc. will post 7.36 earnings per share for the current year.
FB has been the topic of a number of analyst reports. Zacks Investment Research raised Facebook from a “hold” rating to a “buy” rating and set a $236.00 price target on the stock in a research note on Friday, June 12th. Royal Bank of Canada raised their price objective on Facebook from $271.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday. Deutsche Bank lifted their price target on Facebook from $220.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday. BMO Capital Markets boosted their target price on Facebook from $220.00 to $225.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Pivotal Research boosted their target price on Facebook from $225.00 to $275.00 and gave the stock a “hold” rating in a report on Friday. 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 issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $273.37.
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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