Facebook, Inc. (FB) Stake Lowered by Gemmer Asset Management LLC
Gemmer Asset Management LLC cut its stake in Facebook, Inc. (NASDAQ:FB) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,943 shares of the social networking company’s stock after selling 139 shares during the quarter. Gemmer Asset Management LLC’s holdings in Facebook were worth $595,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Arcadia Investment Management Corp MI raised its stake in Facebook by 20.0% during 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 period. Pacific Center for Financial Services lifted its holdings in Facebook by 10.7% during the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock worth $129,000 after acquiring an additional 88 shares in the last quarter. Watermark Asset Management Inc. bought a new position in Facebook during the first quarter worth about $141,000. State of Alaska Department of Revenue bought a new position in Facebook during the first quarter worth about $180,000. Finally, Trust Department MB Financial Bank N A grew its stake in Facebook by 61.2% in the first quarter. Trust Department MB Financial Bank N A now owns 1,346 shares of the social networking company’s stock valued at $191,000 after acquiring an additional 511 shares during the period. 57.26% of the stock is owned by institutional investors.
Facebook, Inc. (FB) traded down 0.54% on Wednesday, hitting $169.04. 7,019,503 shares of the company were exchanged. The stock has a 50 day moving average of $169.83 and a 200 day moving average of $156.72. The company has a market capitalization of $490.93 billion, a price-to-earnings ratio of 37.83 and a beta of 0.70. Facebook, Inc. has a 52 week low of $113.55 and a 52 week high of $175.49.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.19. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The business had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the company posted $0.97 EPS. Facebook’s quarterly revenue was up 44.8% compared to the same quarter last year. Analysts predict that Facebook, Inc. will post $5.37 EPS for the current fiscal year.
In other news, Director Jan Koum sold 3,600,000 shares of the stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $160.06, for a total value of $576,216,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $153.36, for a total value of $115,020.00. Following the completion of the transaction, the vice president now directly owns 85,406 shares of the company’s stock, valued at approximately $13,097,864.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,916,933 shares of company stock worth $2,121,180,386. Corporate insiders own 19.08% of the company’s stock.
FB has been the topic of several research analyst reports. Mizuho restated a “buy” rating and set a $230.00 target price on shares of Facebook in a report on Wednesday, September 20th. Barclays PLC set a $200.00 price target on shares of Facebook and gave the company a “buy” rating in a report on Friday, July 28th. FBN Securities reissued an “outperform” rating and set a $210.00 price objective (up previously from $175.00) on shares of Facebook in a research report on Sunday, July 30th. Pivotal Research downgraded shares of Facebook from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $172.45 to $140.00 in a research report on Monday, July 31st. Finally, Atlantic Securities set a $200.00 price objective on shares of Facebook and gave the stock a “buy” rating in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $185.38.
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.
Receive News & Stock Ratings for Facebook Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook Inc. and related stocks with our FREE daily email newsletter.