Parallel Advisors LLC cut its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,395 shares of the social networking company’s stock after selling 701 shares during the quarter. Facebook makes up 0.9% of Parallel Advisors LLC’s portfolio, making the stock its 22nd largest position. Parallel Advisors LLC’s holdings in Facebook were worth $9,533,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Whitnell & Co. acquired a new position in shares of Facebook during the fourth quarter valued at about $26,000. Cordasco Financial Network lifted its position in shares of Facebook by 70.0% during the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock worth $33,000 after purchasing an additional 70 shares during the last quarter. Signet Investment Advisory Group Inc. bought a new stake in shares of Facebook during the fourth quarter worth $39,000. Clean Yield Group bought a new stake in shares of Facebook during the second quarter worth $39,000. Finally, Litman Gregory Asset Management LLC bought a new stake in shares of Facebook during the second quarter worth $41,000. 62.44% of the stock is currently owned by institutional investors.

In related news, CRO David B. Fischer sold 5,501 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $196.84, for a total transaction of $1,082,816.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Sheryl Sandberg sold 55,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $175.82, for a total value of $9,670,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,088,886 shares of company stock valued at $202,031,242 over the last 90 days. 14.53% of the stock is currently owned by company insiders.

Several analysts have recently weighed in on FB shares. JMP Securities lifted their target price on Facebook from $220.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Barclays upped their target price on Facebook from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Loop Capital upped their target price on Facebook from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, June 28th. Credit Suisse Group upped their target price on Facebook from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, UBS Group restated a “buy” rating and issued a $240.00 target price on shares of Facebook in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have issued a buy rating to the stock. Facebook has an average rating of “Buy” and a consensus price target of $220.92.

Shares of NASDAQ FB traded up $1.00 during mid-day trading on Wednesday, reaching $184.81. 3,804,442 shares of the company’s stock were exchanged, compared to its average volume of 17,668,508. The firm has a market capitalization of $524.09 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 1.08 and a beta of 0.99. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.47 and a current ratio of 4.47. Facebook, Inc. has a 52-week low of $123.02 and a 52-week high of $208.66. The company’s 50-day moving average is $194.28 and its 200-day moving average is $180.70.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 24th. The social networking company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.09. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The company had revenue of $16.89 billion during the quarter, compared to analysts’ expectations of $16.49 billion. During the same period last year, the business posted $1.74 EPS. Facebook’s revenue for the quarter was up 27.6% on a year-over-year basis. As a group, equities analysts predict that Facebook, Inc. will post 7.96 earnings per share for the current fiscal year.

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Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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