Facebook, Inc. (FB) Position Boosted by Paradigm Asset Management Co. LLC
Paradigm Asset Management Co. LLC lifted its position in Facebook, Inc. (NASDAQ:FB) by 4.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,350 shares of the social networking company’s stock after purchasing an additional 100 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Facebook were worth $355,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arcadia Investment Management Corp MI boosted its holdings 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 purchasing an additional 120 shares in the last quarter. D. Scott Neal Inc. boosted its holdings in shares of Facebook by 1,358.0% in the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after purchasing an additional 679 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in shares of Facebook by 4.4% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock worth $122,000 after purchasing an additional 34 shares in the last quarter. Pacific Center for Financial Services boosted its holdings 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 purchasing an additional 88 shares in the last quarter. Finally, Crow Point Partners LLC purchased a new position in shares of Facebook in the 2nd quarter worth about $142,000. Hedge funds and other institutional investors own 57.44% of the company’s stock.
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In related news, insider Michael Todd Schroepfer sold 38,055 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $172.60, for a total transaction of $6,568,293.00. Following the completion of the transaction, the insider now owns 533,937 shares in the company, valued at approximately $92,157,526.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $164.21, for a total transaction of $123,157.50. Following the transaction, the vice president now owns 92,591 shares of the company’s stock, valued at approximately $15,204,368.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,730,694 shares of company stock worth $1,010,627,616. 17.23% of the stock is owned by corporate insiders.
Several brokerages recently weighed in on FB. Zacks Investment Research upgraded Facebook from a “hold” rating to a “buy” rating and set a $202.00 target price for the company in a report on Tuesday, November 7th. SunTrust Banks, Inc. restated a “buy” rating and set a $215.00 target price on shares of Facebook in a report on Friday, November 3rd. Piper Jaffray Companies restated a “buy” rating and set a $200.00 target price on shares of Facebook in a report on Friday, November 3rd. Canaccord Genuity increased their target price on Facebook from $190.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Finally, Oppenheimer Holdings, Inc. increased their target price on Facebook from $195.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $197.95.
Shares of Facebook, Inc. (FB) opened at $179.00 on Monday. The firm has a market cap of $520,139.66, a price-to-earnings ratio of 34.49, a PEG ratio of 1.14 and a beta of 0.67. Facebook, Inc. has a 1-year low of $114.00 and a 1-year high of $182.90.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.31. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $9.84 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. analysts anticipate that Facebook, Inc. will post 5.86 EPS for the current fiscal year.
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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