Sylebra HK Co Ltd Reduces Position in Facebook Inc (FB)
Sylebra HK Co Ltd lowered its stake in Facebook Inc (NASDAQ:FB) by 66.5% during the 3rd quarter, Holdings Channel reports. The firm owned 125,954 shares of the social networking company’s stock after selling 249,694 shares during the period. Facebook comprises 1.9% of Sylebra HK Co Ltd’s holdings, making the stock its 12th largest position. Sylebra HK Co Ltd’s holdings in Facebook were worth $21,522,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Moisand Fitzgerald Tamayo LLC bought a new position in Facebook in the third quarter worth approximately $111,000. Mountain Capital Investment Advisors Inc bought a new position in Facebook in the second quarter worth approximately $138,000. Stelac Advisory Services LLC bought a new position in Facebook in the third quarter worth approximately $152,000. Odey Holdings AG raised its position in shares of Facebook by 5.4% during the 2nd quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock valued at $160,000 after purchasing an additional 54 shares during the period. Finally, Almanack Investment Partners LLC. bought a new stake in shares of Facebook during the 2nd quarter valued at $165,000. Institutional investors own 57.32% of the company’s stock.
In other Facebook news, VP David B. Fischer sold 17,830 shares of Facebook stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $184.35, for a total value of $3,286,960.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 117,829 shares of Facebook stock in a transaction on Friday, December 8th. The stock was sold at an average price of $180.34, for a total transaction of $21,249,281.86. The disclosure for this sale can be found here. Insiders sold a total of 3,468,702 shares of company stock valued at $618,046,701 over the last three months. Corporate insiders own 17.23% of the company’s stock.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, January 31st. The social networking company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.24. Facebook had a net margin of 39.16% and a return on equity of 26.49%. The business had revenue of $12.97 billion during the quarter, compared to analysts’ expectations of $12.58 billion. analysts anticipate that Facebook Inc will post 7.28 EPS for the current year.
Several brokerages have recently commented on FB. BidaskClub downgraded shares of Facebook from a “buy” rating to a “hold” rating in a research report on Saturday. Vetr upgraded shares of Facebook from a “buy” rating to a “strong-buy” rating and set a $210.43 price objective on the stock in a research report on Wednesday, January 10th. JMP Securities set a $235.00 price objective on shares of Facebook and gave the company a “buy” rating in a research report on Thursday, February 1st. Canaccord Genuity restated a “buy” rating and set a $240.00 price objective (up from $230.00) on shares of Facebook in a research report on Thursday, February 1st. Finally, Atlantic Securities set a $225.00 price objective on shares of Facebook and gave the company a “buy” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, forty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $214.70.
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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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