Cadence Bank NA Acquires 1,821 Shares of Facebook, Inc. (NASDAQ:FB)

Cadence Bank NA boosted its stake in Facebook, Inc. (NASDAQ:FB) by 46.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,765 shares of the social networking company’s stock after acquiring an additional 1,821 shares during the quarter. Cadence Bank NA’s holdings in Facebook were worth $1,698,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. RBA Wealth Management LLC acquired a new stake in Facebook in the 1st quarter valued at $25,000. Flagship Private Wealth LLC bought a new position in shares of Facebook in the 4th quarter valued at about $25,000. DB Wealth Management Group LLC acquired a new stake in shares of Facebook in the fourth quarter valued at about $27,000. Klaas Financial Asset Advisors LLC bought a new stake in Facebook during the fourth quarter worth about $27,000. Finally, Litman Gregory Asset Management LLC acquired a new position in Facebook during the fourth quarter valued at approximately $27,000. 64.95% of the stock is owned by institutional investors.

NASDAQ FB traded down $1.03 on Monday, hitting $314.91. 271,355 shares of the company’s stock were exchanged, compared to its average volume of 20,297,557. Facebook, Inc. has a 52 week low of $207.11 and a 52 week high of $331.81. The stock has a 50-day moving average of $306.06 and a 200-day moving average of $279.80. The stock has a market cap of $892.92 billion, a price-to-earnings ratio of 35.76, a P/E/G ratio of 1.29 and a beta of 1.18.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, April 28th. The social networking company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.94. The business had revenue of $26.20 billion for the quarter, compared to analyst estimates of $23.61 billion. Facebook had a return on equity of 23.27% and a net margin of 32.00%. Facebook’s revenue was up 47.7% compared to the same quarter last year. During the same period last year, the firm posted $1.71 earnings per share. On average, equities research analysts anticipate that Facebook, Inc. will post 9.39 EPS for the current year.

In other Facebook news, CFO David M. Wehner sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 29th. The shares were sold at an average price of $330.10, for a total transaction of $5,281,600.00. Following the completion of the transaction, the chief financial officer now owns 18,425 shares in the company, valued at approximately $6,082,092.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David M. Wehner sold 678 shares of the business’s stock in a transaction on Friday, March 19th. The shares were sold at an average price of $289.99, for a total transaction of $196,613.22. Following the completion of the transaction, the chief financial officer now owns 34,425 shares in the company, valued at approximately $9,982,905.75. The disclosure for this sale can be found here. Insiders have sold a total of 1,839,096 shares of company stock worth $542,948,913 over the last ninety days. 14.14% of the stock is currently owned by insiders.

A number of equities research analysts have recently issued reports on FB shares. Loop Capital upped their price objective on Facebook from $330.00 to $370.00 and gave the stock a “buy” rating in a research note on Tuesday, February 16th. Cowen upped their price target on shares of Facebook from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 21st. Oppenheimer lifted their price objective on shares of Facebook from $350.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, April 29th. JMP Securities upped their target price on shares of Facebook from $355.00 to $395.00 and gave the company a “market outperform” rating in a report on Wednesday, May 5th. Finally, Truist raised their target price on shares of Facebook from $350.00 to $400.00 in a research note on Thursday, April 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $366.87.

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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