Gabelli Funds LLC reduced its stake in shares of Facebook Inc (NASDAQ:FB) by 0.2% in the third quarter, HoldingsChannel reports. The firm owned 268,800 shares of the social networking company’s stock after selling 600 shares during the period. Gabelli Funds LLC’s holdings in Facebook were worth $45,930,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Hartford Financial Management Inc. grew its holdings in shares of Facebook by 1.1% in the second quarter. Hartford Financial Management Inc. now owns 1,488 shares of the social networking company’s stock valued at $224,000 after acquiring an additional 16 shares in the last quarter. Regal Investment Advisors LLC grew its holdings in shares of Facebook by 0.3% in the second quarter. Regal Investment Advisors LLC now owns 5,800 shares of the social networking company’s stock valued at $876,000 after acquiring an additional 18 shares in the last quarter. Halbert Hargrove Russell LLC grew its holdings in shares of Facebook by 0.5% in the second quarter. Halbert Hargrove Russell LLC now owns 3,485 shares of the social networking company’s stock valued at $526,000 after acquiring an additional 19 shares in the last quarter. Dumont & Blake Investment Advisors LLC grew its holdings in shares of Facebook by 2.1% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 1,470 shares of the social networking company’s stock valued at $222,000 after acquiring an additional 30 shares in the last quarter. Finally, Aspen Investment Management Inc grew its holdings in shares of Facebook by 0.4% in the second quarter. Aspen Investment Management Inc now owns 6,915 shares of the social networking company’s stock valued at $1,044,000 after acquiring an additional 30 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Shares of Facebook Inc (FB) opened at $179.37 on Friday. The stock has a market capitalization of $521,210.00, a price-to-earnings ratio of 33.34, a price-to-earnings-growth ratio of 1.07 and a beta of 0.68. Facebook Inc has a 12-month low of $126.78 and a 12-month high of $188.90.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.31. The firm had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 earnings per share. analysts forecast that Facebook Inc will post 5.86 earnings per share for the current fiscal year.

In related news, insider Christopher K. Cox sold 16,000 shares of the stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $175.20, for a total value of $2,803,200.00. Following the sale, the insider now owns 172,871 shares in the company, valued at $30,286,999.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Todd Schroepfer sold 38,017 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $187.83, for a total value of $7,140,733.11. Following the completion of the sale, the insider now owns 381,521 shares in the company, valued at approximately $71,661,089.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,182,199 shares of company stock worth $752,724,430. Company insiders own 17.23% of the company’s stock.

Several research firms have recently issued reports on FB. UBS Group set a $215.00 target price on Facebook and gave the company a “buy” rating in a report on Thursday. Citigroup reaffirmed a “buy” rating and issued a $200.00 target price on shares of Facebook in a report on Wednesday, September 27th. BidaskClub raised Facebook from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Cowen reaffirmed an “average” rating and issued a $200.00 target price (up from $195.00) on shares of Facebook in a report on Wednesday, September 27th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $190.00 target price on shares of Facebook in a report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-two have issued a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $203.72.

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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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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