Facebook Inc. (FB) is Cullinan Associates Inc.’s 10th Largest Position
Cullinan Associates Inc. cut its position in Facebook Inc. (NASDAQ:FB) by 11.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,101 shares of the social networking company’s stock after selling 16,899 shares during the period. Facebook accounts for about 1.4% of Cullinan Associates Inc.’s holdings, making the stock its 10th largest position. Cullinan Associates Inc.’s holdings in Facebook were worth $16,688,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Stelac Advisory Services LLC bought a new stake in shares of Facebook during the first quarter valued at approximately $106,000. Bartlett & Co. LLC increased its stake in shares of Facebook by 8.9% in the second quarter. Bartlett & Co. LLC now owns 1,116 shares of the social networking company’s stock valued at $128,000 after buying an additional 91 shares during the last quarter. Balentine LLC increased its stake in shares of Facebook by 512.6% in the second quarter. Balentine LLC now owns 1,213 shares of the social networking company’s stock valued at $139,000 after buying an additional 1,015 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in shares of 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 valued at $140,000 after buying an additional 18 shares during the last quarter. Finally, Gradient Investments LLC increased its stake in shares of Facebook by 25.2% in the second quarter. Gradient Investments LLC now owns 1,365 shares of the social networking company’s stock valued at $156,000 after buying an additional 275 shares during the last quarter. 56.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Facebook Inc. (NASDAQ:FB) traded down 0.65% during trading on Friday, hitting $117.02. 22,879,303 shares of the stock traded hands. The firm has a market cap of $337.27 billion, a price-to-earnings ratio of 45.11 and a beta of 0.76. The company has a 50 day moving average price of $126.18 and a 200 day moving average price of $122.44. Facebook Inc. has a 12 month low of $89.37 and a 12 month high of $133.50.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, November 2nd. The social networking company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.12. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Facebook had a net margin of 30.32% and a return on equity of 16.51%. The business’s quarterly revenue was up 55.8% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS. Analysts anticipate that Facebook Inc. will post $4.09 earnings per share for the current fiscal year.
Several research firms have issued reports on FB. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $127.69 price objective on the stock in a report on Wednesday, August 3rd. Evercore ISI restated a “buy” rating and set a $155.00 price objective on shares of Facebook in a report on Tuesday, July 26th. Citigroup Inc. lifted their price objective on Facebook from $148.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, September 19th. Sanford C. Bernstein set a $160.00 price objective on Facebook and gave the stock a “neutral” rating in a report on Thursday, July 28th. Finally, Zacks Investment Research upgraded Facebook from a “hold” rating to a “strong-buy” rating and set a $144.00 price objective on the stock in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, forty-three have issued a buy rating and three have issued a strong buy rating to the company’s stock. Facebook presently has a consensus rating of “Buy” and an average target price of $150.67.
In other Facebook news, insider Christopher K. Cox sold 15,600 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $115.83, for a total value of $1,806,948.00. Following the sale, the insider now owns 379,068 shares of the company’s stock, valued at approximately $43,907,446.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $132.69, for a total transaction of $99,517.50. Following the completion of the sale, the vice president now directly owns 82,290 shares in the company, valued at approximately $10,919,060.10. The disclosure for this sale can be found here. 19.08% of the stock is currently owned by corporate insiders.
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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