Stonebridge Capital Management Inc. Buys Shares of 1,323 Facebook, Inc. (FB)
Stonebridge Capital Management Inc. bought a new position in Facebook, Inc. (NASDAQ:FB) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,323 shares of the social networking company’s stock, valued at approximately $199,000.
A number of other institutional investors have also recently modified their holdings of FB. Harbour Capital Advisors LLC boosted its holdings in Facebook by 15,047.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,540,691 shares of the social networking company’s stock worth $16,828,000 after buying an additional 2,523,918 shares during the period. State Street Corp boosted its holdings in Facebook by 1.7% in the 1st quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock worth $13,262,607,000 after buying an additional 1,536,158 shares during the period. HPM Partners LLC bought a new position in Facebook in the 1st quarter worth $195,602,000. Alecta Pensionsforsakring Omsesidigt boosted its holdings in Facebook by 131.8% in the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,970,000 shares of the social networking company’s stock worth $279,838,000 after buying an additional 1,120,000 shares during the period. Finally, Karp Capital Management Corp boosted its holdings in Facebook by 6,222.5% in the 1st quarter. Karp Capital Management Corp now owns 896,406 shares of the social networking company’s stock worth $127,334,000 after buying an additional 882,228 shares during the period. 57.26% of the stock is owned by institutional investors.
Facebook, Inc. (NASDAQ:FB) opened at 172.50 on Tuesday. Facebook, Inc. has a 52-week low of $113.55 and a 52-week high of $175.49. The firm has a market capitalization of $500.97 billion, a price-to-earnings ratio of 38.61 and a beta of 0.70. The company’s 50-day moving average is $170.09 and its 200-day moving average is $157.64.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 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 firm had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the company earned $0.97 EPS. The firm’s revenue was up 44.8% on a year-over-year basis. Equities analysts predict that Facebook, Inc. will post $5.34 earnings per share for the current year.
In related news, Director Peter Thiel sold 60,316 shares of the firm’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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher K. Cox sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $164.28, for a total transaction of $2,628,480.00. Following the completion of the sale, the insider now directly owns 196,871 shares in the company, valued at $32,341,967.88. The disclosure for this sale can be found here. Insiders have sold a total of 12,862,269 shares of company stock worth $2,112,811,427 over the last ninety days. 19.08% of the stock is owned by corporate insiders.
FB has been the topic of several research analyst reports. Cowen and Company reiterated an “average” rating and issued a $200.00 price target (up previously from $195.00) on shares of Facebook in a research note on Wednesday, September 27th. Royal Bank Of Canada reiterated a “buy” rating and issued a $185.00 price target on shares of Facebook in a research note on Tuesday, July 11th. Bank of America Corporation reiterated a “buy” rating and issued a $170.00 price target on shares of Facebook in a research note on Thursday, July 13th. Cantor Fitzgerald set a $180.00 price target on shares of Facebook and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $175.00 price target on shares of Facebook in a research note on Friday, June 16th. Two investment 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 stock presently has an average rating of “Buy” and an average price target 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.
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