Facebook, Inc. (NASDAQ:FB) Shares Purchased by Korea Investment CORP

Korea Investment CORP grew its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 22.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,885,774 shares of the social networking company’s stock after acquiring an additional 347,282 shares during the period. Facebook accounts for approximately 1.9% of Korea Investment CORP’s investment portfolio, making the stock its 5th biggest holding. Korea Investment CORP owned approximately 0.07% of Facebook worth $655,702,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baldrige Asset Management LLC acquired a new stake in shares of Facebook in the 2nd quarter valued at about $31,000. Baron Financial Group LLC lifted its position in Facebook by 71.4% in the 1st quarter. Baron Financial Group LLC now owns 120 shares of the social networking company’s stock valued at $35,000 after acquiring an additional 50 shares in the last quarter. Paragon Wealth Strategies LLC bought a new position in Facebook in the 2nd quarter valued at about $46,000. Horan Securities Inc. lifted its position in Facebook by 309.1% in the 2nd quarter. Horan Securities Inc. now owns 135 shares of the social networking company’s stock valued at $47,000 after acquiring an additional 102 shares in the last quarter. Finally, Cypress Capital Management LLC WY bought a new position in shares of Facebook during the 2nd quarter worth approximately $54,000. Institutional investors own 65.72% of the company’s stock.

Shares of NASDAQ:FB traded down $14.46 during midday trading on Wednesday, hitting $343.02. 1,828,972 shares of the stock were exchanged, compared to its average volume of 17,319,922. The company has a 50 day moving average price of $363.96 and a 200-day moving average price of $332.68. Facebook, Inc. has a twelve month low of $244.61 and a twelve month high of $384.33. The stock has a market cap of $967.13 billion, a P/E ratio of 25.47, a PEG ratio of 1.17 and a beta of 1.29.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 28th. The social networking company reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.58. Facebook had a net margin of 37.17% and a return on equity of 30.09%. The firm had revenue of $29.08 billion during the quarter, compared to the consensus estimate of $27.93 billion. As a group, sell-side analysts anticipate that Facebook, Inc. will post 14.1 earnings per share for the current year.

In related news, CAO Susan J.S. Taylor sold 1,378 shares of the stock in a transaction dated Wednesday, August 18th. The stock was sold at an average price of $356.10, for a total value of $490,705.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 77,300 shares of the company’s stock in a transaction dated Friday, June 25th. The stock was sold at an average price of $341.29, for a total value of $26,381,717.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,506,590 shares of company stock valued at $904,182,389 in the last quarter. Company insiders own 14.01% of the company’s stock.

A number of equities research analysts recently commented on FB shares. Mizuho lifted their price target on shares of Facebook from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, July 26th. Truist upped their price objective on shares of Facebook from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Oppenheimer boosted their price target on shares of Facebook from $375.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, July 29th. JMP Securities upped their price objective on shares of Facebook from $395.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Finally, KGI Securities initiated coverage on shares of Facebook in a report on Wednesday, June 2nd. They set an “outperform” rating and a $420.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $404.35.

About Facebook

Facebook, Inc operates as a social networking company worldwide. The company engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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