Ropes Wealth Advisors LLC Purchases 312 Shares of Facebook, Inc. (NASDAQ:FB)

Ropes Wealth Advisors LLC raised its position in Facebook, Inc. (NASDAQ:FB) by 2.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,254 shares of the social networking company’s stock after acquiring an additional 312 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Facebook were worth $4,676,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. RBA Wealth Management LLC purchased a new stake in Facebook in the first quarter worth about $25,000. DB Wealth Management Group LLC purchased a new stake in Facebook in the fourth quarter worth about $27,000. Klaas Financial Asset Advisors LLC purchased a new stake in Facebook in the fourth quarter worth about $27,000. Litman Gregory Asset Management LLC purchased a new stake in Facebook in the fourth quarter worth about $27,000. Finally, ADE LLC purchased a new stake in Facebook in the fourth quarter worth about $27,000. 65.63% of the stock is currently owned by institutional investors.

A number of brokerages have commented on FB. Canaccord Genuity upped their price target on Facebook from $350.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, April 29th. They noted that the move was a valuation call. JMP Securities increased their target price on Facebook from $355.00 to $395.00 and gave the stock a “market outperform” rating in a research report on Thursday, April 29th. Evercore ISI increased their target price on Facebook from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 29th. Piper Sandler increased their target price on Facebook from $285.00 to $335.00 and gave the stock a “neutral” rating in a research report on Thursday, April 29th. Finally, Cowen increased their target price on Facebook from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Thursday, April 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $370.93.

In other Facebook news, CRO David B. Fischer sold 10,145 shares of the firm’s stock in a transaction on Friday, May 28th. The stock was sold at an average price of $331.00, for a total transaction of $3,357,995.00. Following the transaction, the executive now directly owns 25,052 shares in the company, valued at approximately $8,292,212. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Susan J.S. Taylor sold 3,147 shares of the firm’s stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $300.00, for a total value of $944,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,031,403 shares of company stock valued at $632,050,379 over the last three months. 14.01% of the stock is owned by corporate insiders.

Shares of FB stock traded down $0.83 on Friday, reaching $331.63. 100,636 shares of the company’s stock were exchanged, compared to its average volume of 19,578,330. Facebook, Inc. has a 52 week low of $207.11 and a 52 week high of $338.30. The company has a market cap of $940.33 billion, a PE ratio of 28.44, a PEG ratio of 1.27 and a beta of 1.30. The business has a fifty day moving average of $315.72.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, April 28th. The social networking company reported $3.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.36 by $0.94. Facebook had a return on equity of 27.54% and a net margin of 35.74%. The firm had revenue of $26.20 billion during the quarter, compared to analyst estimates of $23.61 billion. During the same period last year, the company earned $1.71 EPS. Facebook’s quarterly revenue was up 47.7% compared to the same quarter last year. Research analysts expect that Facebook, Inc. will post 13.18 EPS for the current fiscal year.

About Facebook

Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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