Conning Inc. lowered its stake in Facebook, Inc. (NASDAQ:FB) by 1.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 63,525 shares of the social networking company’s stock after selling 1,175 shares during the period. Conning Inc.’s holdings in Facebook were worth $9,024,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Reynders McVeigh Capital Management LLC boosted its stake in Facebook by 16.5% in the first quarter. Reynders McVeigh Capital Management LLC now owns 20,500 shares of the social networking company’s stock worth $2,912,000 after buying an additional 2,898 shares during the period. Security National Trust Co. boosted its stake in Facebook by 0.8% in the first quarter. Security National Trust Co. now owns 16,382 shares of the social networking company’s stock worth $2,327,000 after buying an additional 132 shares during the period. Pegasus Partners Ltd. boosted its stake in Facebook by 6.0% in the first quarter. Pegasus Partners Ltd. now owns 3,975 shares of the social networking company’s stock worth $565,000 after buying an additional 225 shares during the period. Old Mutual Global Investors UK Ltd. boosted its stake in Facebook by 165.1% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 606,238 shares of the social networking company’s stock worth $86,116,000 after buying an additional 377,547 shares during the period. Finally, Welch & Forbes LLC boosted its stake in Facebook by 1.9% in the first quarter. Welch & Forbes LLC now owns 191,928 shares of the social networking company’s stock worth $27,263,000 after buying an additional 3,572 shares during the period. Institutional investors and hedge funds own 57.60% of the company’s stock.

Facebook, Inc. (NASDAQ FB) traded down 0.44% during mid-day trading on Tuesday, hitting $171.23. The company had a trading volume of 14,347,227 shares. The firm has a market capitalization of $497.29 billion, a PE ratio of 38.32 and a beta of 0.70. The company’s 50 day moving average price is $159.02 and its 200-day moving average price is $145.93. Facebook, Inc. has a 12-month low of $113.55 and a 12-month high of $175.49.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.19. The company had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. Facebook’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. On average, analysts forecast that Facebook, Inc. will post $5.33 EPS for the current fiscal year.

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A number of research firms have issued reports on FB. Royal Bank Of Canada reissued an “outperform” rating and set a $185.00 price target on shares of Facebook in a research report on Saturday, June 3rd. Barclays PLC reaffirmed an “overweight” rating and set a $168.00 target price (up from $160.00) on shares of Facebook in a report on Wednesday, July 12th. Vetr raised shares of Facebook from a “hold” rating to a “buy” rating and set a $159.91 target price for the company in a report on Tuesday, June 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $192.00 target price (up from $175.00) on shares of Facebook in a report on Thursday, July 27th. Finally, Pacific Crest reaffirmed an “overweight” rating and set a $155.00 target price on shares of Facebook in a report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, forty-two have assigned a buy rating and four have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $180.91.

In related news, Director Susan Desmond-Hellmann sold 209 shares of Facebook stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $144.67, for a total value of $30,236.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $150.10, for a total transaction of $112,575.00. Following the completion of the transaction, the vice president now owns 86,761 shares in the company, valued at approximately $13,022,826.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,166,363 shares of company stock valued at $1,604,306,533. Insiders own 19.08% of the company’s stock.

About Facebook

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.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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