Nuveen Asset Management LLC Lowers Position in Facebook, Inc. (FB)
Nuveen Asset Management LLC decreased its stake in shares of Facebook, Inc. (NASDAQ:FB) by 28.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 614,731 shares of the social networking company’s stock after selling 248,228 shares during the period. Nuveen Asset Management LLC’s holdings in Facebook were worth $87,323,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Waldron LP raised its stake in shares of Facebook by 100.6% in the first quarter. Waldron LP now owns 30,401 shares of the social networking company’s stock valued at $3,841,000 after buying an additional 15,247 shares in the last quarter. Laurel Wealth Advisors Inc. raised its stake in shares of Facebook by 22.1% in the first quarter. Laurel Wealth Advisors Inc. now owns 16,101 shares of the social networking company’s stock valued at $2,286,000 after buying an additional 2,916 shares in the last quarter. Watermark Asset Management Inc. bought a new stake in shares of Facebook during the first quarter valued at $141,000. Aviance Capital Management LLC bought a new stake in shares of Facebook during the first quarter valued at $394,000. Finally, Sowell Financial Services LLC raised its stake in shares of Facebook by 6.3% in the first quarter. Sowell Financial Services LLC now owns 14,852 shares of the social networking company’s stock valued at $2,228,000 after buying an additional 882 shares in the last quarter. 57.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of Facebook, Inc. (NASDAQ FB) traded up 0.093% during mid-day trading on Monday, hitting $167.565. The stock had a trading volume of 6,771,653 shares. The stock has a market capitalization of $486.64 billion, a P/E ratio of 37.503 and a beta of 0.70. The stock has a 50 day moving average of $163.86 and a 200-day moving average of $148.79. Facebook, Inc. has a 52 week low of $113.55 and a 52 week high of $175.49.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The business had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter last year, the firm posted $0.97 earnings per share. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. On average, equities research analysts predict that Facebook, Inc. will post $5.33 earnings per share for the current year.
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Several equities research analysts have weighed in on FB shares. Instinet reaffirmed a “buy” rating and issued a $165.00 target price on shares of Facebook in a research report on Wednesday, May 3rd. Nomura set a $165.00 target price on Facebook and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $170.00 target price on shares of Facebook in a research report on Wednesday, May 3rd. Needham & Company LLC increased their target price on Facebook from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Finally, Deutsche Bank AG increased their target price on Facebook from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have assigned a buy rating and three have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $183.74.
In other news, COO Sheryl Sandberg sold 163,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $149.55, for a total value of $24,451,425.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $148.54, for a total transaction of $111,405.00. Following the completion of the transaction, the vice president now directly owns 90,656 shares of the company’s stock, valued at approximately $13,466,042.24. The disclosure for this sale can be found here. In the last three months, insiders sold 12,686,398 shares of company stock valued at $2,052,460,180. 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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