Peak Capital Management LLC Acquires Shares of 3,167 Facebook, Inc. (FB)
Peak Capital Management LLC acquired a new stake in shares of Facebook, Inc. (NASDAQ:FB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,167 shares of the social networking company’s stock, valued at approximately $478,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Arcadia Investment Management Corp MI grew its position in shares of Facebook by 20.0% in the 1st quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after buying an additional 120 shares during the last quarter. Cohen Capital Management Inc. bought a new stake in shares of Facebook in the 1st quarter worth approximately $121,000. Pacific Center for Financial Services grew its position in shares of Facebook by 10.7% in the 1st quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock worth $129,000 after buying an additional 88 shares during the last quarter. Watermark Asset Management Inc. bought a new stake in shares of Facebook in the 1st quarter worth approximately $141,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Facebook in the 1st quarter worth approximately $180,000. 57.26% of the stock is currently owned by institutional investors.
In other Facebook news, Director Peter Thiel sold 60,316 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $172.25, for a total value of $10,389,431.00. Following the completion of the sale, the director now directly owns 6,311 shares of the company’s stock, valued at $1,087,069.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Todd Schroepfer sold 37,914 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $154.43, for a total transaction of $5,855,059.02. Following the completion of the sale, the insider now directly owns 856,491 shares of the company’s stock, valued at $132,267,905.13. The disclosure for this sale can be found here. Insiders have sold 12,667,406 shares of company stock worth $2,078,665,122 in the last 90 days. 19.08% of the stock is owned by company insiders.
Facebook, Inc. (NASDAQ FB) traded up 1.27% during mid-day trading on Friday, hitting $170.87. 15,340,366 shares of the stock traded hands. The stock has a 50 day moving average price of $170.12 and a 200 day moving average price of $154.54. Facebook, Inc. has a 12-month low of $113.55 and a 12-month high of $175.49. The firm has a market cap of $496.24 billion, a PE ratio of 38.24 and a beta of 0.76.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. The firm’s revenue was up 44.8% compared to the same quarter last year. On average, analysts expect that Facebook, Inc. will post $5.33 earnings per share for the current fiscal year.
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FB has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Facebook from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $200.00 price objective (up from $170.00) on shares of Facebook in a research report on Thursday, July 27th. Wedbush reiterated a “buy” rating on shares of Facebook in a research report on Thursday, July 27th. Macquarie set a $175.00 price objective on Facebook and gave the stock a “buy” rating in a research report on Monday, July 24th. Finally, Raymond James Financial, Inc. lifted their price objective on Facebook from $180.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-two have assigned a buy rating and three have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $184.95.
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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