Facebook, Inc. (NASDAQ:FB) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. reduced its position in shares of Facebook, Inc. (NASDAQ:FB) by 0.0% in the 1st quarter, Holdings Channel reports. The firm owned 1,160,323 shares of the social networking company’s stock after selling 285 shares during the period. Facebook accounts for approximately 1.9% of Panagora Asset Management Inc.’s holdings, making the stock its 4th largest position. Panagora Asset Management Inc.’s holdings in Facebook were worth $341,750,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. RBA Wealth Management LLC acquired a new position in shares of Facebook during the first quarter worth $25,000. DB Wealth Management Group LLC acquired a new position in shares of Facebook during the fourth quarter worth $27,000. Klaas Financial Asset Advisors LLC acquired a new position in shares of Facebook during the fourth quarter worth $27,000. Litman Gregory Asset Management LLC acquired a new position in shares of Facebook during the fourth quarter worth $27,000. Finally, ADE LLC acquired a new position in shares of Facebook during the fourth quarter worth $27,000. Institutional investors and hedge funds own 65.63% of the company’s stock.

In other Facebook news, CEO Mark Zuckerberg sold 77,300 shares of the stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $330.13, for a total value of $25,519,049.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David M. Wehner sold 678 shares of the stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $289.99, for a total transaction of $196,613.22. Following the transaction, the chief financial officer now directly owns 34,425 shares of the company’s stock, valued at $9,982,905.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,075,903 shares of company stock valued at $643,900,557. Company insiders own 14.01% of the company’s stock.

Several research analysts have recently issued reports on FB shares. Morgan Stanley upped their price target on shares of Facebook from $345.00 to $375.00 and gave the stock an “overweight” rating in a report on Thursday, April 29th. Raymond James boosted their price objective on shares of Facebook from $360.00 to $415.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 29th. They noted that the move was a valuation call. Credit Suisse Group set a $400.00 price objective on shares of Facebook and gave the stock a “buy” rating in a research note on Thursday, April 29th. KGI Securities began coverage on shares of Facebook in a research note on Wednesday, June 2nd. They issued an “outperform” rating and a $420.00 price objective on the stock. Finally, Stifel Nicolaus boosted their price objective on shares of Facebook from $340.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, April 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the stock. Facebook presently has a consensus rating of “Buy” and a consensus target price of $370.93.

Shares of FB traded up $1.17 on Thursday, reaching $331.42. The company’s stock had a trading volume of 453,332 shares, compared to its average volume of 19,636,371. Facebook, Inc. has a twelve month low of $207.11 and a twelve month high of $338.30. The firm has a market cap of $939.73 billion, a PE ratio of 28.25, a PEG ratio of 1.27 and a beta of 1.30. The company has a fifty day moving average of $315.04.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, April 28th. The social networking company reported $3.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.94. The firm had revenue of $26.20 billion during the quarter, compared to analyst estimates of $23.61 billion. Facebook had a net margin of 35.74% and a return on equity of 27.54%. The company’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter last year, the business posted $1.71 EPS. On average, analysts predict that Facebook, Inc. will post 13.18 earnings per share for the current fiscal year.

About Facebook

Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used 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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