Facebook Inc. (FB) Shares Bought by Seaward Management Limited Partnership
Seaward Management Limited Partnership increased its position in shares of Facebook Inc. (NASDAQ:FB) by 8.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 264,014 shares of the social networking company’s stock after buying an additional 20,831 shares during the period. Facebook accounts for approximately 1.7% of Seaward Management Limited Partnership’s holdings, making the stock its 19th largest position. Seaward Management Limited Partnership’s holdings in Facebook were worth $30,171,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Facebook by 2.3% in the first quarter. State Street Corp now owns 85,825,821 shares of the social networking company’s stock worth $9,792,722,000 after buying an additional 1,950,433 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Facebook during the second quarter worth $206,083,000. Prudential Financial Inc. raised its position in shares of Facebook by 44.3% in the first quarter. Prudential Financial Inc. now owns 5,346,954 shares of the social networking company’s stock worth $610,087,000 after buying an additional 1,642,535 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Facebook by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 58,452,390 shares of the social networking company’s stock worth $6,669,418,000 after buying an additional 1,308,609 shares during the last quarter. Finally, Credit Agricole S A raised its position in shares of Facebook by 89.8% in the first quarter. Credit Agricole S A now owns 2,413,768 shares of the social networking company’s stock worth $275,411,000 after buying an additional 1,141,775 shares during the last quarter. 56.61% of the stock is currently owned by hedge funds and other institutional investors.
Facebook Inc. (NASDAQ:FB) traded up 0.39% during mid-day trading on Monday, reaching $128.77. The company’s stock had a trading volume of 13,156,943 shares. The company has a market capitalization of $369.78 billion, a PE ratio of 61.55 and a beta of 0.77. The firm has a 50 day moving average price of $127.03 and a 200-day moving average price of $119.33. Facebook Inc. has a 1-year low of $89.37 and a 1-year high of $131.98.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 27th. The social networking company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.15. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The company had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same period last year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 59.2% on a year-over-year basis. On average, equities analysts predict that Facebook Inc. will post $3.94 EPS for the current fiscal year.
A number of research analysts have weighed in on FB shares. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $136.45 price objective on the stock in a report on Monday, September 12th. Societe Generale set a $80.00 price objective on Facebook and gave the company a “sell” rating in a report on Thursday, July 7th. Robert W. Baird upgraded Facebook to a “buy” rating in a report on Monday, July 18th. Citigroup Inc. raised their price objective on Facebook from $148.00 to $158.00 and gave the company a “buy” rating in a report on Monday, September 19th. Finally, Jefferies Group set a $170.00 price target on Facebook and gave the stock a “buy” rating in a report on Thursday, August 4th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, forty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $149.79.
In related news, COO Sheryl Sandberg sold 109,000 shares of Facebook stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $113.51, for a total value of $12,372,590.00. Following the transaction, the chief operating officer now directly owns 4,753,248 shares in the company, valued at approximately $539,541,180.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher K. Cox sold 15,600 shares of Facebook stock in a transaction on Monday, July 11th. The stock was sold at an average price of $117.71, for a total value of $1,836,276.00. Following the completion of the transaction, the insider now owns 365,986 shares in the company, valued at $43,080,212.06. The disclosure for this sale can be found here. Insiders own 19.08% of the company’s stock.
Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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