Atalanta Sosnoff Capital LLC Acquires 36,592 Shares of Facebook, Inc. (NASDAQ:FB)

Atalanta Sosnoff Capital LLC boosted its holdings in Facebook, Inc. (NASDAQ:FB) by 7.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 528,100 shares of the social networking company’s stock after acquiring an additional 36,592 shares during the period. Facebook accounts for about 4.2% of Atalanta Sosnoff Capital LLC’s investment portfolio, making the stock its 5th largest position. Atalanta Sosnoff Capital LLC’s holdings in Facebook were worth $179,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FB. Amundi acquired a new stake in Facebook in the 2nd quarter valued at about $1,797,555,000. Macquarie Group Ltd. grew its stake in Facebook by 664.2% in the 2nd quarter. Macquarie Group Ltd. now owns 4,442,933 shares of the social networking company’s stock valued at $1,544,853,000 after acquiring an additional 3,861,530 shares during the last quarter. FMR LLC grew its stake in Facebook by 1.7% in the 2nd quarter. FMR LLC now owns 127,113,861 shares of the social networking company’s stock valued at $44,198,761,000 after acquiring an additional 2,129,463 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in Facebook by 621.6% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,598,599 shares of the social networking company’s stock valued at $555,849,000 after acquiring an additional 1,377,049 shares during the last quarter. Finally, Marshall Wace North America L.P. grew its stake in Facebook by 146.5% in the 2nd quarter. Marshall Wace North America L.P. now owns 2,284,360 shares of the social networking company’s stock valued at $794,294,000 after acquiring an additional 1,357,667 shares during the last quarter. 65.74% of the stock is currently owned by hedge funds and other institutional investors.

FB stock opened at $341.06 on Thursday. Facebook, Inc. has a twelve month low of $244.61 and a twelve month high of $384.33. The company has a market capitalization of $948.75 billion, a P/E ratio of 24.34, a PEG ratio of 1.22 and a beta of 1.27. The firm has a 50 day simple moving average of $336.80 and a 200-day simple moving average of $344.31.

Facebook (NASDAQ:FB) last released its quarterly earnings results on Sunday, October 24th. The social networking company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.03. Facebook had a net margin of 35.88% and a return on equity of 30.22%. The business had revenue of $29.01 billion during the quarter, compared to the consensus estimate of $29.52 billion. During the same quarter last year, the company earned $2.71 earnings per share. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. On average, research analysts forecast that Facebook, Inc. will post 13.96 EPS for the current fiscal year.

A number of research firms have issued reports on FB. Truist reduced their target price on shares of Facebook from $425.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, October 26th. Royal Bank of Canada reduced their target price on shares of Facebook from $425.00 to $415.00 and set an “outperform” rating on the stock in a report on Tuesday, October 26th. Tigress Financial upped their target price on shares of Facebook from $430.00 to $466.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 13th. JMP Securities restated an “outperform” rating and issued a $400.00 target price (down from $425.00) on shares of Facebook in a report on Tuesday, October 26th. Finally, Barclays reduced their target price on shares of Facebook from $430.00 to $420.00 and set an “overweight” rating on the stock in a report on Tuesday, October 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $398.00.

In other Facebook news, CEO Mark Zuckerberg sold 77,300 shares of the firm’s stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $382.34, for a total value of $29,554,882.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Susan J.S. Taylor sold 1,378 shares of the firm’s stock in a transaction on Wednesday, November 17th. The shares were 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. Insiders have sold 1,893,113 shares of company stock valued at $660,001,361 in the last three months. Corporate insiders own 14.01% of the company’s stock.

Facebook Company Profile

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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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