Diamond Hill Capital Management Inc. Sells 309 Shares of Facebook, Inc. (FB)
Diamond Hill Capital Management Inc. lessened its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 8.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,420 shares of the social networking company’s stock after selling 309 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Facebook were worth $516,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in FB. Mutual of America Capital Management LLC increased its stake in shares of Facebook by 2.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 284,167 shares of the social networking company’s stock valued at $40,366,000 after acquiring an additional 6,740 shares during the last quarter. Grand Jean Capital Management Inc. raised its position in shares of Facebook by 14.3% in the 1st quarter. Grand Jean Capital Management Inc. now owns 127,250 shares of the social networking company’s stock valued at $18,076,000 after acquiring an additional 15,910 shares during the period. ING Groep NV raised its position in shares of Facebook by 6.9% in the 2nd quarter. ING Groep NV now owns 589,751 shares of the social networking company’s stock valued at $89,041,000 after acquiring an additional 37,822 shares during the period. Segment Wealth Management LLC raised its position in shares of Facebook by 157.5% in the 1st quarter. Segment Wealth Management LLC now owns 7,333 shares of the social networking company’s stock valued at $1,042,000 after acquiring an additional 4,485 shares during the period. Finally, Jericho Capital Asset Management L.P. acquired a new stake in shares of Facebook in the 1st quarter valued at approximately $94,601,000. 57.26% of the stock is owned by hedge funds and other institutional investors.
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In related news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $170.10, for a total transaction of $127,575.00. Following the transaction, the vice president now owns 92,191 shares in the company, valued at $15,681,689.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher K. Cox sold 16,000 shares of the business’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $149.93, for a total transaction of $2,398,880.00. Following the transaction, the insider now owns 184,965 shares in the company, valued at approximately $27,731,802.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,916,933 shares of company stock worth $2,121,180,386. 19.08% of the stock is owned by company insiders.
Facebook, Inc. (NASDAQ:FB) opened at 169.96 on Wednesday. Facebook, Inc. has a 52 week low of $113.55 and a 52 week high of $175.49. The firm has a 50-day moving average price of $169.83 and a 200 day moving average price of $156.72. The firm has a market capitalization of $493.60 billion, a price-to-earnings ratio of 38.04 and a beta of 0.70.
Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.19. The company had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. Facebook’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 earnings per share. On average, equities research analysts forecast that Facebook, Inc. will post $5.36 earnings per share for the current fiscal year.
A number of research firms recently commented on FB. Oppenheimer Holdings Inc. upped their price objective on shares of Facebook from $170.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. JMP Securities reiterated an “outperform” rating and set a $195.00 target price (up from $170.00) on shares of Facebook in a report on Thursday, July 27th. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $174.15 target price for the company in a research note on Monday, August 28th. BidaskClub raised Facebook from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Finally, Robert W. Baird reissued a “buy” rating and issued a $185.00 target price on shares of Facebook in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating, forty-two have issued a buy rating and three have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $185.06.
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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