Facebook Inc (FB) Shares Sold by Hermes Investment Management Ltd.
Hermes Investment Management Ltd. cut its position in Facebook Inc (NASDAQ:FB) by 0.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 561,519 shares of the social networking company’s stock after selling 3,993 shares during the quarter. Facebook makes up approximately 1.4% of Hermes Investment Management Ltd.’s investment portfolio, making the stock its 8th largest holding. Hermes Investment Management Ltd.’s holdings in Facebook were worth $95,947,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Janus Henderson Group PLC grew its stake in shares of Facebook by 283.6% during the second quarter. Janus Henderson Group PLC now owns 11,888,149 shares of the social networking company’s stock worth $1,794,857,000 after acquiring an additional 8,788,743 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Facebook by 3.3% during the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after acquiring an additional 5,151,190 shares during the last quarter. BlackRock Inc. grew its stake in shares of Facebook by 3.0% during the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after acquiring an additional 4,032,727 shares during the last quarter. Harbour Capital Advisors LLC grew its stake in shares of Facebook by 15,047.5% during the second quarter. Harbour Capital Advisors LLC now owns 2,540,691 shares of the social networking company’s stock worth $16,828,000 after acquiring an additional 2,523,918 shares during the last quarter. Finally, Magellan Asset Management Ltd grew its stake in shares of Facebook by 28.4% during the second quarter. Magellan Asset Management Ltd now owns 10,686,955 shares of the social networking company’s stock worth $1,613,516,000 after acquiring an additional 2,361,166 shares during the last quarter. Institutional investors and hedge funds own 57.71% of the company’s stock.
In other news, VP Colin Stretch sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $164.21, for a total transaction of $123,157.50. Following the completion of the transaction, the vice president now directly owns 92,591 shares of the company’s stock, valued at approximately $15,204,368.11. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP David B. Fischer sold 4,699 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $171.53, for a total value of $806,019.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,818,239 shares of company stock valued at $861,121,743. Corporate insiders own 17.23% of the company’s stock.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.31. The business had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 EPS. research analysts predict that Facebook Inc will post 5.86 EPS for the current year.
A number of equities research analysts recently commented on the company. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $180.74 target price on the stock in a research report on Monday, September 25th. Morgan Stanley reiterated an “overweight” rating and issued a $195.00 target price (up previously from $190.00) on shares of Facebook in a research report on Monday, October 2nd. Pivotal Research reiterated a “sell” rating and issued a $140.00 target price on shares of Facebook in a research report on Wednesday, September 6th. Wells Fargo & Company set a $215.00 target price on Facebook and gave the company a “buy” rating in a research report on Friday, October 6th. Finally, Atlantic Securities set a $215.00 target price on Facebook and gave the company a “buy” rating in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-two have issued a buy rating and three have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $200.81.
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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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