Eagle Ridge Investment Management Takes Position in Facebook, Inc. (NASDAQ:FB)

Eagle Ridge Investment Management purchased a new stake in shares of Facebook, Inc. (NASDAQ:FB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,076 shares of the social networking company’s stock, valued at approximately $244,000.

Other hedge funds have also recently bought and sold shares of the company. Sarasin & Partners LLP lifted its stake in shares of Facebook by 223.4% during the second quarter. Sarasin & Partners LLP now owns 256,493 shares of the social networking company’s stock worth $58,242,000 after purchasing an additional 177,179 shares in the last quarter. First American Bank lifted its stake in shares of Facebook by 1.4% during the first quarter. First American Bank now owns 43,592 shares of the social networking company’s stock worth $7,271,000 after purchasing an additional 593 shares in the last quarter. Consolidated Investment Group LLC lifted its stake in shares of Facebook by 64.2% during the first quarter. Consolidated Investment Group LLC now owns 13,300 shares of the social networking company’s stock worth $2,218,000 after purchasing an additional 5,200 shares in the last quarter. Donaldson Capital Management LLC lifted its stake in shares of Facebook by 23.3% during the second quarter. Donaldson Capital Management LLC now owns 1,596 shares of the social networking company’s stock worth $362,000 after purchasing an additional 302 shares in the last quarter. Finally, Transform Wealth LLC lifted its stake in shares of Facebook by 6.3% during the first quarter. Transform Wealth LLC now owns 30,466 shares of the social networking company’s stock worth $5,082,000 after purchasing an additional 1,807 shares in the last quarter. 65.12% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have commented on FB. Morgan Stanley boosted their price objective on Facebook from $270.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday. Canaccord Genuity reiterated a “buy” rating and issued a $290.00 price target (up previously from $275.00) on shares of Facebook in a research note on Friday. Barclays boosted their price target on Facebook from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday. Nomura boosted their price target on Facebook from $253.00 to $260.00 in a research note on Thursday, April 30th. Finally, Deutsche Bank boosted their price target on Facebook from $220.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $273.37.

In other news, VP Jennifer Newstead sold 194 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $234.76, for a total transaction of $45,543.44. Following the completion of the sale, the vice president now owns 1,918 shares in the company, valued at approximately $450,269.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO David B. Fischer sold 22,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $205.29, for a total value of $4,516,380.00. Following the completion of the sale, the executive now owns 57,503 shares of the company’s stock, valued at approximately $11,804,790.87. The disclosure for this sale can be found here. Insiders sold 68,591 shares of company stock valued at $14,894,825 over the last 90 days. 14.14% of the stock is currently owned by insiders.

FB opened at $253.67 on Friday. The company has a market capitalization of $668.11 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 4.60. Facebook, Inc. has a 1-year low of $137.10 and a 1-year high of $255.85. The business has a 50 day moving average price of $235.27 and a two-hundred day moving average price of $207.59.

Facebook (NASDAQ:FB) last released its earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share 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 the consensus estimate of $17.29 billion. Facebook had a return on equity of 23.49% and a net margin of 31.29%. Equities analysts expect that Facebook, Inc. will post 7.36 EPS 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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