CHURCHILL MANAGEMENT Corp Cuts Stake in Facebook Inc (FB)
CHURCHILL MANAGEMENT Corp reduced its stake in shares of Facebook Inc (NASDAQ:FB) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,286 shares of the social networking company’s stock after selling 2,567 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Facebook were worth $6,859,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. HCR Wealth Advisors acquired a new position in Facebook during the fourth quarter valued at approximately $3,091,000. Nwam LLC boosted its position in Facebook by 31.6% in the third quarter. Nwam LLC now owns 18,678 shares of the social networking company’s stock valued at $2,396,000 after buying an additional 4,481 shares during the last quarter. GSA Capital Partners LLP boosted its position in Facebook by 3,206.5% in the fourth quarter. GSA Capital Partners LLP now owns 67,287 shares of the social networking company’s stock valued at $7,741,000 after buying an additional 65,252 shares during the last quarter. Aviva PLC boosted its position in Facebook by 7.6% in the fourth quarter. Aviva PLC now owns 1,638,062 shares of the social networking company’s stock valued at $188,606,000 after buying an additional 115,558 shares during the last quarter. Finally, Amtrust Financial Services Inc. purchased a new stake in shares of Facebook during the fourth quarter valued at about $1,420,000. Institutional investors own 57.00% of the company’s stock.
Shares of Facebook Inc (NASDAQ:FB) traded up 0.62% during mid-day trading on Friday, hitting $148.57. 4,083,998 shares of the company’s stock were exchanged. The company has a market capitalization of $430.58 billion, a price-to-earnings ratio of 37.78 and a beta of 0.68. Facebook Inc has a 52 week low of $108.23 and a 52 week high of $153.60. The firm has a 50 day moving average price of $145.82 and a 200-day moving average price of $132.24. Facebook also was the recipient of unusually large options trading on Wednesday. Stock investors bought 129,160 put options on the stock. This is an increase of 153% compared to the typical volume of 51,102 put options.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, May 3rd. The social networking company reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.16. The company had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.83 billion. Facebook had a return on equity of 19.05% and a net margin of 34.33%. The business’s revenue was up 49.2% on a year-over-year basis. During the same period last year, the business earned $0.77 earnings per share. On average, equities analysts anticipate that Facebook Inc will post $4.83 EPS for the current year.
A number of research firms have recently weighed in on FB. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $154.73 target price for the company in a research note on Wednesday. Credit Suisse Group AG reissued an “outperform” rating and issued a $175.00 target price on shares of Facebook in a research note on Monday, May 8th. Loop Capital reissued a “buy” rating and issued a $175.00 target price on shares of Facebook in a research note on Monday, May 8th. Argus reaffirmed a “buy” rating and set a $176.00 price target on shares of Facebook in a research report on Monday, May 8th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $170.00 price target (up previously from $157.50) on shares of Facebook in a research report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, forty-two have given a buy rating and three have issued a strong buy rating to the stock. Facebook currently has a consensus rating of “Buy” and an average target price of $163.98.
In other news, CEO Mark Zuckerberg sold 192,874 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $136.10, for a total value of $26,250,151.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Sheryl Sandberg sold 272,500 shares of the firm’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $141.35, for a total value of $38,517,875.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,836,427 shares of company stock valued at $1,417,668,940. Company insiders own 19.08% of the company’s stock.
Facebook Company Profile
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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