Professional Planning raised its position in Facebook, Inc. (NASDAQ:FB) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,591 shares of the social networking company’s stock after purchasing an additional 122 shares during the period. Facebook makes up about 2.5% of Professional Planning’s investment portfolio, making the stock its 11th biggest holding. Professional Planning’s holdings in Facebook were worth $3,297,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Watson Rebecca acquired a new position in shares of Facebook in the second quarter valued at approximately $25,000. JJJ Advisors Inc. increased its holdings in Facebook by 262.5% during the 2nd quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock worth $33,000 after purchasing an additional 105 shares in the last quarter. Demars Financial Group LLC acquired a new stake in shares of Facebook in the 2nd quarter valued at about $39,000. Virtus Alternative Investment Advisers Inc. bought a new stake in shares of Facebook in the second quarter valued at about $47,000. Finally, Center for Financial Planning Inc. boosted its position in shares of Facebook by 33.9% during the second quarter. Center for Financial Planning Inc. now owns 257 shares of the social networking company’s stock worth $58,000 after buying an additional 65 shares during the period. Institutional investors own 65.31% of the company’s stock.

FB has been the topic of several research reports. Argus boosted their target price on Facebook from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Jefferies Financial Group set a $310.00 target price on shares of Facebook and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Raymond James boosted their price target on shares of Facebook from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 31st. They noted that the move was a valuation call. HSBC increased their price objective on shares of Facebook from $190.00 to $195.00 and gave the stock a “reduce” rating in a research note on Wednesday, August 5th. Finally, MKM Partners upped their target price on Facebook from $240.00 to $290.00 in a report on Wednesday, July 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $283.11.

In other news, VP Jennifer Newstead sold 194 shares of Facebook stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $246.22, for a total transaction of $47,766.68. Following the sale, the vice president now directly owns 2,112 shares of the company’s stock, valued at $520,016.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Michael Todd Schroepfer sold 112 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $262.09, for a total value of $29,354.08. Following the sale, the chief technology officer now owns 498,238 shares in the company, valued at $130,583,197.42. The disclosure for this sale can be found here. Insiders sold 34,023 shares of company stock worth $9,420,337 in the last 90 days. Company insiders own 14.14% of the company’s stock.

Shares of FB stock opened at $265.93 on Friday. The business has a fifty day simple moving average of $268.73 and a 200 day simple moving average of $234.17. The company has a market cap of $757.59 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.80 and a beta of 1.29. Facebook, Inc. has a twelve month low of $137.10 and a twelve month high of $304.67.

Facebook (NASDAQ:FB) last posted its earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.36. The firm had revenue of $18.69 billion during the quarter, compared to analysts’ expectations of $17.29 billion. Facebook had a net margin of 31.29% and a return on equity of 22.90%. On average, analysts anticipate that Facebook, Inc. will post 8.11 EPS for the current year.

Facebook Company Profile

Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.

Further Reading: Why are trading ranges significant?

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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