Hudock Capital Group LLC lessened its stake in shares of Facebook, Inc. (NASDAQ:FB) by 34.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,417 shares of the social networking company’s stock after selling 748 shares during the period. Hudock Capital Group LLC’s holdings in Facebook were worth $275,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of FB. Marble Arch Investments LP grew its stake in Facebook by 40.8% during the 1st quarter. Marble Arch Investments LP now owns 451,900 shares of the social networking company’s stock valued at $72,209,000 after acquiring an additional 130,900 shares in the last quarter. Knott David M purchased a new position in Facebook during the 1st quarter valued at about $3,196,000. Immersion Capital LLP purchased a new position in Facebook during the 1st quarter valued at about $65,194,000. Natixis grew its stake in Facebook by 420.1% during the 1st quarter. Natixis now owns 789,988 shares of the social networking company’s stock valued at $126,232,000 after acquiring an additional 638,106 shares in the last quarter. Finally, City Financial Investment Co Ltd purchased a new position in Facebook during the 1st quarter valued at about $15,979,000. Hedge funds and other institutional investors own 60.30% of the company’s stock.
Shares of FB stock opened at $146.22 on Wednesday. Facebook, Inc. has a 12 month low of $139.03 and a 12 month high of $218.62. The company has a market cap of $422.30 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 0.92 and a beta of 0.42.
Several equities research analysts recently commented on the company. Raymond James cut Facebook from a “strong-buy” rating to an “outperform” rating and set a $210.00 price target for the company. in a research note on Thursday, July 26th. Royal Bank of Canada reissued a “buy” rating and issued a $195.00 price target on shares of Facebook in a research note on Monday, September 3rd. Stifel Nicolaus reissued a “buy” rating and issued a $202.00 price target on shares of Facebook in a research note on Thursday, August 23rd. JPMorgan Chase & Co. boosted their price target on Facebook from $195.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, September 18th. Finally, MKM Partners lowered their price target on Facebook to $230.00 and set a “buy” rating for the company in a research note on Thursday, August 2nd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. Facebook presently has a consensus rating of “Buy” and a consensus target price of $205.11.
In other news, COO Sheryl Sandberg sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 23rd. The stock was sold at an average price of $152.90, for a total transaction of $8,409,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 210,000 shares of the company’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $177.61, for a total value of $37,298,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,622,884 shares of company stock valued at $640,571,897. Corporate insiders own 16.25% of the company’s stock.
Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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