KEYWISE CAPITAL MANAGEMENT HK Ltd Makes New $3.93 Million Investment in Facebook, Inc. (NASDAQ:FB)

KEYWISE CAPITAL MANAGEMENT HK Ltd acquired a new position in Facebook, Inc. (NASDAQ:FB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 17,300 shares of the social networking company’s stock, valued at approximately $3,928,000. Facebook comprises about 1.0% of KEYWISE CAPITAL MANAGEMENT HK Ltd’s investment portfolio, making the stock its 14th largest position.

Other hedge funds have also bought and sold shares of the company. Watson Rebecca purchased a new position in Facebook in the second quarter worth $25,000. JJJ Advisors Inc. boosted its position in Facebook by 262.5% in the second quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock worth $33,000 after purchasing an additional 105 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in Facebook in the first quarter worth $41,000. Elmwood Wealth Management Inc. purchased a new position in Facebook in the first quarter worth $46,000. Finally, NuWave Investment Management LLC boosted its position in Facebook by 1,019.2% in the first quarter. NuWave Investment Management LLC now owns 291 shares of the social networking company’s stock worth $49,000 after purchasing an additional 265 shares during the last quarter. 65.12% of the stock is currently owned by institutional investors and hedge funds.

FB opened at $253.67 on Friday. The business has a 50 day simple moving average of $235.27 and a two-hundred day simple moving average of $207.59. The firm has a market capitalization of $668.11 billion, a price-to-earnings ratio of 30.97, a PEG 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 one year low of $137.10 and a one year high of $255.85.

Facebook (NASDAQ:FB) last announced its earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.36. Facebook had a return on equity of 23.49% and a net margin of 31.29%. The firm had revenue of $18.69 billion during the quarter, compared to analyst estimates of $17.29 billion. As a group, sell-side analysts expect that Facebook, Inc. will post 7.36 EPS for the current fiscal year.

FB has been the topic of several research reports. Guggenheim boosted their target price on Facebook from $235.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Argus boosted their target price on Facebook from $220.00 to $240.00 in a research note on Monday, May 4th. Mizuho boosted their target price on Facebook from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup boosted their target price on Facebook from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, Zacks Investment Research upgraded Facebook from a “hold” rating to a “buy” rating and set a $236.00 price objective on the stock in a research note on Friday, June 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $273.37.

In other news, CFO David M. Wehner sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $209.90, for a total value of $1,679,200.00. Following the completion of the transaction, the chief financial officer now owns 24,484 shares of the company’s stock, valued at approximately $5,139,191.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO David B. Fischer sold 22,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $205.29, for a total value of $4,516,380.00. Following the completion of the transaction, the executive now directly 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 a total of 68,591 shares of company stock valued at $14,894,825 in the last three months. Corporate insiders own 14.14% of the company’s stock.

Facebook Profile

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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