Karp Capital Management Corp Boosts Position in Facebook, Inc. (FB)
Karp Capital Management Corp increased its position in shares of Facebook, Inc. (NASDAQ:FB) by 6,222.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 896,406 shares of the social networking company’s stock after buying an additional 882,228 shares during the period. Facebook accounts for about 0.9% of Karp Capital Management Corp’s portfolio, making the stock its 9th largest position. Karp Capital Management Corp’s holdings in Facebook were worth $127,334,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. First Financial Corp IN increased its position in shares of Facebook by 0.5% in the first quarter. First Financial Corp IN now owns 2,436 shares of the social networking company’s stock valued at $346,000 after buying an additional 11 shares in the last quarter. Enterprise Financial Services Corp increased its position in shares of Facebook by 1.0% in the first quarter. Enterprise Financial Services Corp now owns 2,124 shares of the social networking company’s stock valued at $302,000 after buying an additional 21 shares in the last quarter. Cordasco Financial Network increased its position in shares of Facebook by 1.5% in the first quarter. Cordasco Financial Network now owns 2,029 shares of the social networking company’s stock valued at $288,000 after buying an additional 29 shares in the last quarter. Donald L. Hagan LLC increased its position in shares of Facebook by 0.8% in the first quarter. Donald L. Hagan LLC now owns 4,240 shares of the social networking company’s stock valued at $602,000 after buying an additional 35 shares in the last quarter. Finally, Montag A & Associates Inc. increased its position in shares of Facebook by 1.1% in the first quarter. Montag A & Associates Inc. now owns 3,381 shares of the social networking company’s stock valued at $480,000 after buying an additional 36 shares in the last quarter. Institutional investors own 57.30% of the company’s stock.
Facebook, Inc. (NASDAQ:FB) traded up 0.31% during trading on Friday, reaching $172.50. 5,120,518 shares of the company’s stock were exchanged. Facebook, Inc. has a 1-year low of $113.55 and a 1-year high of $175.49. The company has a market capitalization of $500.97 billion, a PE ratio of 38.61 and a beta of 0.70. The company’s 50-day moving average is $167.63 and its 200-day moving average is $151.12.
Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The business had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the business posted $0.97 EPS. Facebook’s revenue was up 44.8% compared to the same quarter last year. Equities research analysts expect that Facebook, Inc. will post $5.33 earnings per share for the current fiscal year.
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Several research analysts recently issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and set a $185.00 price objective on shares of Facebook in a research report on Saturday, June 3rd. Barclays PLC reiterated an “overweight” rating and issued a $168.00 price target (up from $160.00) on shares of Facebook in a report on Wednesday, July 12th. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $159.91 price target for the company in a report on Tuesday, June 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $192.00 price target (up from $175.00) on shares of Facebook in a report on Thursday, July 27th. Finally, Pacific Crest reiterated an “overweight” rating and issued a $155.00 price target on shares of Facebook in a report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have given a buy rating and three have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $183.74.
In other Facebook news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $166.85, for a total value of $125,137.50. Following the sale, the vice president now directly owns 96,268 shares in the company, valued at approximately $16,062,315.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Thiel sold 60,316 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $172.25, for a total transaction of $10,389,431.00. Following the completion of the sale, the director now owns 6,311 shares in the company, valued at $1,087,069.75. The disclosure for this sale can be found here. Insiders sold a total of 12,405,594 shares of company stock worth $2,014,792,849 over the last quarter. 19.08% of the stock is currently owned by company insiders.
Facebook Company Profile
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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