Kentucky Retirement Systems Invests $22,467,000 in Facebook Inc. (FB)
Kentucky Retirement Systems purchased a new position in Facebook Inc. (NASDAQ:FB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 196,596 shares of the social networking company’s stock, valued at approximately $22,467,000. Facebook accounts for approximately 1.5% of Kentucky Retirement Systems’ investment portfolio, making the stock its 9th largest position.
Other large investors have also bought and sold shares of the company. Amici Capital LLC increased its stake in shares of Facebook by 71.9% in the first quarter. Amici Capital LLC now owns 406,259 shares of the social networking company’s stock valued at $46,354,000 after buying an additional 169,900 shares during the last quarter. Highland Private Wealth Management bought a new position in Facebook during the first quarter valued at $1,543,000. Junto Capital Management LP boosted its position in Facebook by 399.8% in the first quarter. Junto Capital Management LP now owns 716,800 shares of the social networking company’s stock valued at $81,787,000 after buying an additional 573,380 shares during the period. Sapphire Star Partners LP boosted its position in Facebook by 100.0% in the first quarter. Sapphire Star Partners LP now owns 5,000 shares of the social networking company’s stock valued at $522,000 after buying an additional 2,500 shares during the period. Finally, Hunt Lane Capital LP boosted its position in Facebook by 35.0% in the first quarter. Hunt Lane Capital LP now owns 270,000 shares of the social networking company’s stock valued at $30,807,000 after buying an additional 70,000 shares during the period. 56.87% of the stock is owned by institutional investors and hedge funds.
Facebook Inc. (NASDAQ:FB) traded down 0.65% on Friday, hitting $117.02. The stock had a trading volume of 22,879,303 shares. The company has a market cap of $337.27 billion, a P/E ratio of 45.11 and a beta of 0.76. The firm’s 50-day moving average is $126.18 and its 200-day moving average is $122.44. Facebook Inc. has a 52-week low of $89.37 and a 52-week high of $133.50.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, November 2nd. The social networking company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.97 by $0.12. Facebook had a return on equity of 16.51% and a net margin of 30.32%. The firm earned $7 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the firm earned $0.57 earnings per share. The business’s revenue for the quarter was up 55.8% on a year-over-year basis. Equities research analysts anticipate that Facebook Inc. will post $4.09 earnings per share for the current fiscal year.
Several research firms have recently weighed in on FB. MKM Partners reiterated a “buy” rating on shares of Facebook in a report on Sunday, July 24th. Raymond James Financial Inc. restated an “outperform” rating and set a $140.00 target price on shares of Facebook in a report on Friday, July 22nd. Jefferies Group restated a “buy” rating and set a $170.00 target price (up previously from $160.00) on shares of Facebook in a report on Wednesday, July 27th. Wedbush increased their target price on shares of Facebook from $145.00 to $162.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. Finally, Zacks Investment Research upgraded shares of Facebook from a “hold” rating to a “strong-buy” rating and set a $144.00 target price for the company in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-three have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $150.67.
In other news, VP David B. Fischer sold 47,301 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $116.52, for a total transaction of $5,511,512.52. Following the completion of the transaction, the vice president now directly owns 178,142 shares in the company, valued at $20,757,105.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jan Koum sold 356,547 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $123.95, for a total value of $44,194,000.65. The disclosure for this sale can be found here. Company 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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