Facebook, Inc. (FB) Position Cut by Sei Investments Co.
Sei Investments Co. lessened its stake in Facebook, Inc. (NASDAQ:FB) by 21.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,080,083 shares of the social networking company’s stock after selling 289,235 shares during the quarter. Facebook comprises 0.7% of Sei Investments Co.’s holdings, making the stock its 18th biggest position. Sei Investments Co.’s holdings in Facebook were worth $209,882,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Icon Advisers Inc. Co. boosted its position in shares of Facebook by 4.1% during the 2nd quarter. Icon Advisers Inc. Co. now owns 78,173 shares of the social networking company’s stock valued at $15,191,000 after purchasing an additional 3,100 shares in the last quarter. Autus Asset Management LLC bought a new position in shares of Facebook during the 2nd quarter valued at about $253,000. Grisanti Capital Management LLC boosted its position in shares of Facebook by 35.2% during the 2nd quarter. Grisanti Capital Management LLC now owns 74,240 shares of the social networking company’s stock valued at $14,426,000 after purchasing an additional 19,332 shares in the last quarter. WESPAC Advisors SoCal LLC boosted its position in shares of Facebook by 4.8% during the 2nd quarter. WESPAC Advisors SoCal LLC now owns 13,121 shares of the social networking company’s stock valued at $2,549,000 after purchasing an additional 600 shares in the last quarter. Finally, Willingdon Wealth Management boosted its position in shares of Facebook by 4.7% during the 2nd quarter. Willingdon Wealth Management now owns 29,708 shares of the social networking company’s stock valued at $5,773,000 after purchasing an additional 1,347 shares in the last quarter. Hedge funds and other institutional investors own 60.25% of the company’s stock.
In other Facebook news, CFO David M. Wehner sold 9,522 shares of Facebook stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $180.20, for a total transaction of $1,715,864.40. Following the sale, the chief financial officer now owns 77,302 shares in the company, valued at $13,929,820.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 210,000 shares of Facebook stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $178.00, for a total transaction of $37,380,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,571,582 shares of company stock worth $448,690,663. Insiders own 17.23% of the company’s stock.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.30. The business had revenue of $13.73 billion during the quarter, compared to analyst estimates of $13.82 billion. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The firm’s revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.59 earnings per share. As a group, research analysts anticipate that Facebook, Inc. will post 7.35 EPS for the current fiscal year.
Several research analysts have commented on the stock. Wells Fargo & Co reiterated a “buy” rating and issued a $220.00 target price (down from $250.00) on shares of Facebook in a report on Thursday, July 26th. Wedbush reiterated a “buy” rating and issued a $250.00 target price on shares of Facebook in a report on Thursday, July 26th. Monness Crespi & Hardt decreased their target price on shares of Facebook from $225.00 to $205.00 and set a “buy” rating for the company in a report on Thursday, July 26th. Citigroup cut shares of Facebook to a “buy” rating and decreased their target price for the stock from $220.00 to $210.00 in a report on Thursday, July 26th. They noted that the move was a valuation call. Finally, KeyCorp reiterated a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Facebook in a report on Thursday, July 26th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. Facebook presently has an average rating of “Buy” and an average target price of $194.54.
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Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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