Kalos Management Inc. reduced its holdings in Facebook, Inc. (NASDAQ:FB) by 9.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,003 shares of the social networking company’s stock after selling 920 shares during the quarter. Facebook comprises 1.3% of Kalos Management Inc.’s investment portfolio, making the stock its 8th biggest holding. Kalos Management Inc.’s holdings in Facebook were worth $3,254,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Baldrige Asset Management LLC purchased a new position in Facebook in the 2nd quarter valued at approximately $31,000. Baron Financial Group LLC increased its stake in Facebook by 71.4% in the 1st quarter. Baron Financial Group LLC now owns 120 shares of the social networking company’s stock valued at $35,000 after purchasing an additional 50 shares in the last quarter. Paragon Wealth Strategies LLC purchased a new position in Facebook in the 2nd quarter valued at approximately $46,000. Horan Securities Inc. increased its position in Facebook by 309.1% during the second quarter. Horan Securities Inc. now owns 135 shares of the social networking company’s stock worth $47,000 after buying an additional 102 shares in the last quarter. Finally, University of Texas Texas AM Investment Managment Co. increased its position in Facebook by 800.0% during the first quarter. University of Texas Texas AM Investment Managment Co. now owns 180 shares of the social networking company’s stock worth $53,000 after buying an additional 160 shares in the last quarter. 65.72% of the stock is owned by institutional investors and hedge funds.
In related news, CFO David M. Wehner sold 1,545 shares of Facebook stock in a transaction dated Sunday, August 15th. The shares were sold at an average price of $363.18, for a total transaction of $561,113.10. Following the completion of the sale, the chief financial officer now owns 27,321 shares of the company’s stock, valued at approximately $9,922,440.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 77,300 shares of the business’s stock in a transaction dated Wednesday, June 23rd. The shares were sold at an average price of $341.07, for a total transaction of $26,364,711.00. The disclosure for this sale can be found here. Insiders sold a total of 2,583,890 shares of company stock worth $930,547,100 over the last quarter. Company insiders own 14.01% of the company’s stock.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, July 28th. The social networking company reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.03 by $0.58. The company had revenue of $29.08 billion for the quarter, compared to analysts’ expectations of $27.93 billion. Facebook had a net margin of 37.17% and a return on equity of 30.09%. Equities research analysts expect that Facebook, Inc. will post 14.1 earnings per share for the current year.
A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. set a $450.00 price objective on Facebook in a research report on Thursday, July 29th. Evercore ISI boosted their price objective on Facebook from $400.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. HSBC boosted their price objective on Facebook from $275.00 to $300.00 and gave the stock a “reduce” rating in a research note on Thursday, September 9th. Mizuho boosted their price objective on Facebook from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, July 26th. Finally, The Goldman Sachs Group initiated coverage on Facebook in a research note on Monday, September 13th. They set a “buy” rating and a $455.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Facebook has an average rating of “Buy” and a consensus target price of $404.35.
Facebook, Inc operates as a social networking company worldwide. The company engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online.
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