Brown Advisory Securities LLC Sells 3,270 Shares of Facebook, Inc. (FB)
Brown Advisory Securities LLC lowered its stake in Facebook, Inc. (NASDAQ:FB) by 9.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,389 shares of the social networking company’s stock after selling 3,270 shares during the period. Facebook makes up 1.1% of Brown Advisory Securities LLC’s holdings, making the stock its 20th largest position. Brown Advisory Securities LLC’s holdings in Facebook were worth $4,459,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Facebook during the fourth quarter valued at $2,046,500,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Facebook by 1.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,721,199 shares of the social networking company’s stock worth $954,746,000 after buying an additional 71,206 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Facebook by 17.8% in the first quarter. Canada Pension Plan Investment Board now owns 4,100,250 shares of the social networking company’s stock worth $582,441,000 after buying an additional 620,686 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Facebook by 1.5% in the first quarter. Rhumbline Advisers now owns 3,741,605 shares of the social networking company’s stock worth $531,495,000 after buying an additional 54,953 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Facebook by 29.0% in the first quarter. Russell Investments Group Ltd. now owns 3,643,713 shares of the social networking company’s stock worth $517,583,000 after buying an additional 818,374 shares in the last quarter. Institutional investors and hedge funds own 57.60% of the company’s stock.
Facebook, Inc. (NASDAQ:FB) traded down 1.33% during mid-day trading on Thursday, hitting $168.90. The company’s stock had a trading volume of 4,758,989 shares. Facebook, Inc. has a 12-month low of $113.55 and a 12-month high of $175.49. The firm’s 50-day moving average is $160.69 and its 200-day moving average is $147.01. The company has a market cap of $490.52 billion, a P/E ratio of 37.80 and a beta of 0.70.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.19. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The firm had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the firm earned $0.97 EPS. The firm’s revenue was up 44.8% on a year-over-year basis. Analysts predict that Facebook, Inc. will post $5.33 EPS for the current fiscal year.
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FB has been the topic of a number of analyst reports. UBS AG reiterated a “buy” rating and set a $165.00 price objective on shares of Facebook in a research note on Wednesday, April 19th. Robert W. Baird set a $185.00 price objective on Facebook and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Cowen and Company reiterated an “outperform” rating and set a $195.00 price objective (up from $180.00) on shares of Facebook in a research note on Thursday, July 27th. JMP Securities set a $195.00 price objective on Facebook and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, MKM Partners reiterated a “buy” rating on shares of Facebook in a research note on Monday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, forty-two have given a buy rating and three have issued a strong buy rating to the stock. Facebook has a consensus rating of “Buy” and an average target price of $180.91.
In other Facebook news, Director Peter Thiel sold 60,316 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $172.25, for a total transaction of $10,389,431.00. Following the sale, the director now directly owns 6,311 shares of the company’s stock, valued at approximately $1,087,069.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher K. Cox sold 16,000 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $148.03, for a total value of $2,368,480.00. Following the sale, the insider now directly owns 221,328 shares in the company, valued at $32,763,183.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,183,113 shares of company stock worth $1,607,154,643. 19.08% of the stock is owned by insiders.
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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