Facebook, Inc. (FB) Position Trimmed by Decatur Capital Management Inc.
Decatur Capital Management Inc. lessened its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,095 shares of the social networking company’s stock after selling 6,046 shares during the quarter. Facebook makes up approximately 3.0% of Decatur Capital Management Inc.’s portfolio, making the stock its 5th largest holding. Decatur Capital Management Inc.’s holdings in Facebook were worth $14,508,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp raised its position in Facebook by 1.7% during the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock valued at $13,262,607,000 after acquiring an additional 1,536,158 shares in the last quarter. Jennison Associates LLC raised its position in Facebook by 6.4% during the second quarter. Jennison Associates LLC now owns 20,336,932 shares of the social networking company’s stock valued at $3,070,470,000 after acquiring an additional 1,219,412 shares in the last quarter. Legal & General Group Plc raised its position in Facebook by 6.2% during the second quarter. Legal & General Group Plc now owns 10,382,771 shares of the social networking company’s stock valued at $1,567,582,000 after acquiring an additional 602,162 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Facebook by 4.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 7,476,119 shares of the social networking company’s stock valued at $1,128,745,000 after acquiring an additional 349,182 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Facebook by 2.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,883,858 shares of the social networking company’s stock valued at $1,039,325,000 after acquiring an additional 162,659 shares in the last quarter. 57.35% of the stock is currently owned by hedge funds and other institutional investors.
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A number of research firms have recently commented on FB. Zacks Investment Research raised shares of Facebook from a “hold” rating to a “buy” rating and set a $202.00 price target on the stock in a research report on Tuesday, November 7th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $215.00 price target on shares of Facebook in a research report on Friday, November 3rd. Piper Jaffray Companies reissued a “buy” rating and issued a $200.00 price target on shares of Facebook in a research report on Friday, November 3rd. Canaccord Genuity lifted their price target on shares of Facebook from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Finally, Oppenheimer Holdings, Inc. lifted their price target on shares of Facebook from $195.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-three have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $197.95.
In related news, insider Michael Todd Schroepfer sold 38,055 shares of Facebook stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $172.60, for a total value of $6,568,293.00. Following the completion of the transaction, the insider now directly owns 533,937 shares of the company’s stock, valued at $92,157,526.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jan Koum sold 594,246 shares of Facebook stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $179.35, for a total value of $106,578,020.10. The disclosure for this sale can be found here. Insiders sold 5,762,164 shares of company stock valued at $1,015,885,901 over the last ninety days. 19.08% of the stock is currently owned by company insiders.
Shares of Facebook, Inc. (NASDAQ FB) opened at $179.59 on Friday. Facebook, Inc. has a 52 week low of $114.00 and a 52 week high of $182.90. The company has a market cap of $517,088.53, a price-to-earnings ratio of 34.29, a PEG ratio of 1.14 and a beta of 0.67.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $9.84 billion. During the same period in the previous year, the business posted $1.09 earnings per share. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. equities research analysts forecast that Facebook, Inc. will post 5.81 earnings per share for the current year.
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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