Facebook, Inc. (FB) Stake Lifted by Mascoma Wealth Management LLC
Mascoma Wealth Management LLC increased its stake in Facebook, Inc. (NASDAQ:FB) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,502 shares of the social networking company’s stock after acquiring an additional 106 shares during the period. Mascoma Wealth Management LLC’s holdings in Facebook were worth $227,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of FB. State Street Corp grew its holdings 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 worth $13,262,607,000 after acquiring an additional 1,536,158 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Facebook by 5.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 7,126,937 shares of the social networking company’s stock valued at $1,012,382,000 after acquiring an additional 349,947 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Facebook by 1.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,721,199 shares of the social networking company’s stock valued at $954,746,000 after acquiring an additional 71,206 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Facebook by 17.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,100,250 shares of the social networking company’s stock valued at $582,441,000 after acquiring an additional 620,686 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Facebook by 1.5% in the 1st quarter. Rhumbline Advisers now owns 3,741,605 shares of the social networking company’s stock valued at $531,495,000 after acquiring an additional 54,953 shares during the last quarter. Institutional investors and hedge funds own 57.26% of the company’s stock.
Shares of Facebook, Inc. (NASDAQ FB) traded down 0.55% during mid-day trading on Wednesday, reaching $169.02. The company had a trading volume of 7,022,197 shares. The company has a market cap of $490.87 billion, a price-to-earnings ratio of 37.83 and a beta of 0.70. Facebook, Inc. has a 52-week low of $113.55 and a 52-week high of $175.49. The firm’s 50-day moving average price is $169.83 and its 200 day moving average price is $156.72.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.19. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The company had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the business posted $0.97 EPS. Facebook’s revenue for the quarter was up 44.8% on a year-over-year basis. Equities analysts expect that Facebook, Inc. will post $5.37 EPS for the current year.
In related news, VP David B. Fischer sold 50,533 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $169.95, for a total value of $8,588,083.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $153.36, for a total transaction of $115,020.00. Following the completion of the sale, the vice president now directly owns 85,406 shares in the company, valued at approximately $13,097,864.16. The disclosure for this sale can be found here. Insiders have sold a total of 12,916,933 shares of company stock worth $2,121,180,386 in the last 90 days. 19.08% of the stock is currently owned by corporate insiders.
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Several equities analysts have recently weighed in on FB shares. Zacks Investment Research lowered shares of Facebook from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $200.00 target price (up from $170.00) on shares of Facebook in a report on Thursday, July 27th. Wedbush reiterated a “buy” rating on shares of Facebook in a report on Thursday, July 27th. Macquarie set a $175.00 target price on shares of Facebook and gave the company a “buy” rating in a research note on Monday, July 24th. Finally, Raymond James Financial, Inc. increased their target price on shares of Facebook from $180.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $185.38.
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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