Facebook, Inc. (FB) Shares Bought by Assenagon Asset Management S.A.
Assenagon Asset Management S.A. boosted its stake in Facebook, Inc. (NASDAQ:FB) by 1,047.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,581,007 shares of the social networking company’s stock after acquiring an additional 1,443,234 shares during the quarter. Facebook accounts for approximately 3.5% of Assenagon Asset Management S.A.’s portfolio, making the stock its largest position. Assenagon Asset Management S.A.’s holdings in Facebook were worth $307,221,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of FB. Risk Paradigm Group LLC boosted its position in shares of Facebook by 81.4% during the 4th quarter. Risk Paradigm Group LLC now owns 655 shares of the social networking company’s stock valued at $116,000 after acquiring an additional 294 shares during the last quarter. Trust Department MB Financial Bank N A bought a new stake in shares of Facebook during the 2nd quarter valued at about $134,000. Wagner Wealth Management LLC bought a new stake in Facebook in the 4th quarter worth approximately $183,000. Northwest Wealth Management LLC bought a new stake in Facebook in the 2nd quarter worth approximately $194,000. Finally, GenWealth Group Inc. bought a new stake in Facebook in the 2nd quarter worth approximately $200,000. Institutional investors and hedge funds own 60.39% of the company’s stock.
Shares of Facebook stock opened at $165.41 on Tuesday. Facebook, Inc. has a one year low of $149.02 and a one year high of $218.62. The company has a market capitalization of $473.31 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 1.04 and a beta of 0.49.
In other news, CEO Mark Zuckerberg sold 240,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $216.71, for a total transaction of $52,010,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher K. Cox sold 10,600 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $194.13, for a total value of $2,057,778.00. Following the transaction, the insider now directly owns 123,482 shares in the company, valued at $23,971,560.66. The disclosure for this sale can be found here. Insiders have sold 8,659,413 shares of company stock worth $1,662,973,880 over the last three months. Insiders own 16.25% of the company’s stock.
A number of research firms recently weighed in on FB. BidaskClub downgraded Facebook from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Zacks Investment Research downgraded Facebook from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 11th. ValuEngine upgraded Facebook from a “hold” rating to a “buy” rating in a research report on Friday, July 6th. Barclays restated a “buy” rating and issued a $190.00 target price on shares of Facebook in a research report on Wednesday, June 27th. Finally, Macquarie restated a “buy” rating and issued a $200.00 target price on shares of Facebook in a research report on Wednesday, June 27th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $206.89.
Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
Further Reading: Technical Analysis
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