Marino Stram & Associates LLC Sells 34,285 Shares of Facebook, Inc. (NASDAQ:FB)

Marino Stram & Associates LLC lessened its holdings in Facebook, Inc. (NASDAQ:FB) by 93.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,292 shares of the social networking company’s stock after selling 34,285 shares during the period. Marino Stram & Associates LLC’s holdings in Facebook were worth $778,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FB. Baldrige Asset Management LLC bought a new stake in Facebook during the 2nd quarter worth approximately $31,000. Capital Directions Investment Advisors LLC bought a new stake in Facebook during the 2nd quarter worth approximately $31,000. Lion Street Advisors LLC bought a new stake in Facebook during the 2nd quarter worth approximately $43,000. Filbrandt Wealth Management LLC bought a new stake in Facebook during the 3rd quarter worth approximately $43,000. Finally, Eubel Brady & Suttman Asset Management Inc. bought a new stake in Facebook during the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 65.74% of the company’s stock.

NASDAQ FB opened at $341.06 on Thursday. The business has a fifty day moving average price of $336.80 and a 200 day moving average price of $344.31. The company has a market cap of $948.75 billion, a P/E ratio of 24.34, a P/E/G ratio of 1.22 and a beta of 1.27. Facebook, Inc. has a one year low of $244.61 and a one year high of $384.33.

Facebook (NASDAQ:FB) last issued its earnings results on Sunday, October 24th. The social networking company reported $3.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.19 by $0.03. The company had revenue of $29.01 billion during the quarter, compared to analysts’ expectations of $29.52 billion. Facebook had a return on equity of 30.22% and a net margin of 35.88%. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.71 EPS. On average, research analysts predict that Facebook, Inc. will post 13.96 EPS for the current fiscal year.

In related news, insider Jennifer Newstead sold 250 shares of the firm’s stock in a transaction dated Tuesday, November 23rd. The stock was sold at an average price of $338.82, for a total transaction of $84,705.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 77,300 shares of the firm’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $382.34, for a total value of $29,554,882.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,893,113 shares of company stock valued at $660,001,361. Company insiders own 14.01% of the company’s stock.

FB has been the topic of several recent analyst reports. UBS Group set a $416.00 price objective on shares of Facebook in a research report on Tuesday, October 26th. Royal Bank of Canada reduced their price objective on shares of Facebook from $425.00 to $415.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 26th. Tigress Financial lifted their price objective on shares of Facebook from $430.00 to $466.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 13th. Robert W. Baird raised their target price on shares of Facebook from $340.00 to $390.00 and gave the company an “outperform” rating in a report on Thursday, July 29th. Finally, Canaccord Genuity raised their target price on shares of Facebook from $380.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, July 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Facebook has an average rating of “Buy” and a consensus target price of $398.00.

About Facebook

Meta Platforms, Inc, (formerly known as Facebook, Inc) operates as a global social technology company. The company engages in the development of social media applications as well as virtual and augmented reality products allowing users to connect through mobile devices, personal computers and other platforms.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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