Archford Capital Strategies LLC lifted its stake in shares of Facebook, Inc. (NASDAQ:FB) by 1.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,008 shares of the social networking company’s stock after acquiring an additional 113 shares during the period. Archford Capital Strategies LLC’s holdings in Facebook were worth $2,378,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Asset Management Corp IL ADV lifted its stake in Facebook by 3.1% in the third quarter. Asset Management Corp IL ADV now owns 11,688 shares of the social networking company’s stock worth $3,967,000 after purchasing an additional 354 shares during the last quarter. Oribel Capital Management LP lifted its stake in Facebook by 20.4% in the second quarter. Oribel Capital Management LP now owns 81,600 shares of the social networking company’s stock worth $28,374,000 after purchasing an additional 13,800 shares during the last quarter. Woodward Diversified Capital LLC bought a new stake in Facebook in the second quarter worth $2,215,000. NEXT Financial Group Inc increased its position in shares of Facebook by 2.6% in the second quarter. NEXT Financial Group Inc now owns 19,296 shares of the social networking company’s stock valued at $6,710,000 after acquiring an additional 491 shares during the period. Finally, WBI Investments Inc. purchased a new position in shares of Facebook in the second quarter valued at about $7,399,000. 65.74% of the stock is owned by institutional investors.
A number of research firms have issued reports on FB. Jefferies Financial Group set a $420.00 price objective on shares of Facebook and gave the company a “buy” rating in a research report on Tuesday, October 26th. Evercore ISI restated a “buy” rating and issued a $430.00 price objective on shares of Facebook in a research report on Sunday, October 31st. Royal Bank of Canada decreased their price objective on shares of Facebook from $425.00 to $415.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 26th. Wells Fargo & Company reduced their price target on shares of Facebook from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 26th. Finally, JPMorgan Chase & Co. set a $390.00 price target on shares of Facebook in a research report on Monday, November 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Facebook currently has an average rating of “Buy” and an average price target of $398.00.
Facebook (NASDAQ:FB) last posted its earnings results on Sunday, October 24th. The social networking company reported $3.22 EPS for the quarter, beating the Zacks’ consensus estimate of $3.19 by $0.03. Facebook had a net margin of 35.88% and a return on equity of 30.22%. The company had revenue of $29.01 billion for the quarter, compared to analysts’ expectations of $29.52 billion. During the same quarter in the prior year, the company posted $2.71 earnings per share. Facebook’s revenue for the quarter was up 35.1% compared to the same quarter last year. As a group, equities analysts expect that Facebook, Inc. will post 13.96 EPS for the current fiscal year.
In other Facebook news, CEO Mark Zuckerberg sold 77,300 shares of the firm’s stock in a transaction on Friday, August 27th. The stock was sold at an average price of $370.69, for a total value of $28,654,337.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Susan J.S. Taylor sold 1,378 shares of Facebook stock in a transaction dated Wednesday, November 17th. The stock was sold at an average price of $344.22, for a total value of $474,335.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,893,113 shares of company stock worth $660,001,361. 14.01% of the stock is owned by corporate insiders.
Meta Platforms, Inc, (formerly known as Facebook, Inc) operates as a global social technology company. The company engages in the development of social media applications as well as virtual and augmented reality products allowing users to connect through mobile devices, personal computers and other platforms.
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