Passport Capital LLC cut its stake in shares of Facebook Inc. (NASDAQ:FB) by 44.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 425,313 shares of the social networking company’s stock after selling 342,805 shares during the period. Facebook comprises about 0.9% of Passport Capital LLC’s holdings, making the stock its 27th largest position. Passport Capital LLC’s holdings in Facebook were worth $48,605,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Stelac Advisory Services LLC bought a new position in Facebook during the first quarter worth about $106,000. Bartlett & Co. LLC boosted its position in Facebook by 8.9% in the second quarter. Bartlett & Co. LLC now owns 1,116 shares of the social networking company’s stock worth $128,000 after buying an additional 91 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Facebook by 1.5% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,230 shares of the social networking company’s stock worth $140,000 after buying an additional 18 shares in the last quarter. Gradient Investments LLC boosted its position in Facebook by 25.2% in the second quarter. Gradient Investments LLC now owns 1,365 shares of the social networking company’s stock worth $156,000 after buying an additional 275 shares in the last quarter. Finally, Duncker Streett & Co. Inc. boosted its position in Facebook by 75.0% in the second quarter. Duncker Streett & Co. Inc. now owns 1,400 shares of the social networking company’s stock worth $160,000 after buying an additional 600 shares in the last quarter. Institutional investors own 56.67% of the company’s stock.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Facebook Inc. (NASDAQ:FB) traded down 1.47% during mid-day trading on Friday, reaching $119.02. The company’s stock had a trading volume of 32,840,137 shares. Facebook Inc. has a 12-month low of $89.37 and a 12-month high of $133.50. The firm’s 50 day moving average price is $127.78 and its 200 day moving average price is $122.35. The stock has a market cap of $341.79 billion, a price-to-earnings ratio of 56.89 and a beta of 0.76.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, November 2nd. The social networking company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.12. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.90 billion. Facebook had a return on equity of 16.51% and a net margin of 30.32%. The firm’s revenue for the quarter was up 55.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. On average, equities analysts predict that Facebook Inc. will post $4.09 earnings per share for the current year.

A number of research firms recently issued reports on FB. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $162.00 price objective on shares of Facebook in a research report on Saturday, October 22nd. Jefferies Group reiterated a “buy” rating and set a $170.00 price objective on shares of Facebook in a research report on Sunday, October 23rd. Wedbush reiterated an “outperform” rating and set a $162.00 price objective on shares of Facebook in a research report on Friday, October 28th. Cantor Fitzgerald restated a “buy” rating and issued a $160.00 price target on shares of Facebook in a research report on Monday, October 31st. Finally, MKM Partners restated a “buy” rating and issued a $165.00 price target on shares of Facebook in a research report on Tuesday, November 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, forty-four have issued a buy rating and two have given a strong buy rating to the company. Facebook has an average rating of “Buy” and a consensus price target of $150.97.

In other news, VP David B. Fischer sold 35,000 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $130.32, for a total value of $4,561,200.00. Following the transaction, the vice president now owns 204,686 shares of the company’s stock, valued at approximately $26,674,679.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Colin Stretch sold 14,114 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $124.07, for a total value of $1,751,123.98. Following the completion of the transaction, the vice president now directly owns 94,390 shares in the company, valued at approximately $11,710,967.30. The disclosure for this sale can be found here. Company insiders own 19.08% of the company’s stock.

Facebook Company Profile

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.

5 Day Chart for NASDAQ:FB

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