Zweig DiMenna Associates LLC Raises Position in Facebook, Inc. (NASDAQ:FB)

Zweig DiMenna Associates LLC grew its holdings in Facebook, Inc. (NASDAQ:FB) by 153.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 103,536 shares of the social networking company’s stock after purchasing an additional 62,692 shares during the period. Facebook makes up about 2.5% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 7th biggest position. Zweig DiMenna Associates LLC’s holdings in Facebook were worth $23,510,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Watson Rebecca bought a new stake in Facebook during the 2nd quarter worth $25,000. JJJ Advisors Inc. grew its position 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 acquiring an additional 105 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in Facebook during the 1st quarter worth $41,000. Elmwood Wealth Management Inc. bought a new stake in Facebook during the 1st quarter worth $46,000. Finally, NuWave Investment Management LLC grew its position in Facebook by 1,019.2% during the 1st quarter. NuWave Investment Management LLC now owns 291 shares of the social networking company’s stock worth $49,000 after acquiring an additional 265 shares during the last quarter. Institutional investors own 65.12% of the company’s stock.

A number of equities research analysts have commented on FB shares. Loop Capital upped their price target on Facebook from $215.00 to $265.00 in a research report on Friday, May 15th. BMO Capital Markets upped their price target on Facebook from $220.00 to $225.00 and gave the company a “market perform” rating in a research report on Friday. Argus upped their price target on Facebook from $220.00 to $240.00 in a research report on Monday, May 4th. Monness Crespi & Hardt upped their price target on Facebook from $230.00 to $290.00 and gave the company a “buy” rating in a research report on Friday. Finally, Cfra lowered Facebook from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have issued 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 an average price target of $273.37.

Shares of FB opened at $253.67 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.60 and a current ratio of 4.60. The stock has a 50 day moving average price of $235.27 and a two-hundred day moving average price of $207.59. The firm has a market capitalization of $668.11 billion, a P/E ratio of 30.97, a P/E/G ratio of 1.68 and a beta of 1.19. Facebook, Inc. has a 52 week low of $137.10 and a 52 week high of $255.85.

Facebook (NASDAQ:FB) last issued its quarterly earnings data 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 analyst estimates of $17.29 billion. Facebook had a return on equity of 23.49% and a net margin of 31.29%. On average, equities analysts forecast that Facebook, Inc. will post 7.36 earnings per share for the current year.

In other news, CFO David M. Wehner sold 11,764 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $231.66, for a total value of $2,725,248.24. Following the completion of the transaction, the chief financial officer now directly owns 19,412 shares of the company’s stock, valued at $4,496,983.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Jennifer Newstead sold 194 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $207.43, for a total value of $40,241.42. Following the completion of the transaction, the vice president now directly owns 406 shares of the company’s stock, valued at $84,216.58. The disclosure for this sale can be found here. Insiders have sold a total of 68,591 shares of company stock valued at $14,894,825 over the last three months. Corporate insiders own 14.14% of the company’s stock.

About Facebook

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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