Gerber Kawasaki Wealth & Investment Management decreased its holdings in Facebook, Inc. (NASDAQ:FB) by 5.8% during the 2nd quarter, Holdings Channel reports. The firm owned 50,739 shares of the social networking company’s stock after selling 3,151 shares during the quarter. Facebook comprises approximately 3.0% of Gerber Kawasaki Wealth & Investment Management’s holdings, making the stock its 10th largest position. Gerber Kawasaki Wealth & Investment Management’s holdings in Facebook were worth $10,013,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Townsend & Associates Inc lifted its holdings in Facebook by 6.6% during the 2nd quarter. Townsend & Associates Inc now owns 4,077 shares of the social networking company’s stock worth $792,000 after buying an additional 254 shares during the period. Winslow Evans & Crocker Inc. lifted its holdings in Facebook by 2.2% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 12,658 shares of the social networking company’s stock worth $2,462,000 after buying an additional 274 shares during the period. Harvest Group Wealth Management LLC lifted its holdings in Facebook by 2.4% during the 1st quarter. Harvest Group Wealth Management LLC now owns 12,430 shares of the social networking company’s stock worth $1,986,000 after buying an additional 286 shares during the period. Truewealth LLC lifted its holdings in Facebook by 7.1% during the 2nd quarter. Truewealth LLC now owns 4,306 shares of the social networking company’s stock worth $837,000 after buying an additional 287 shares during the period. Finally, Sit Investment Associates Inc. lifted its holdings in Facebook by 0.5% during the 2nd quarter. Sit Investment Associates Inc. now owns 56,660 shares of the social networking company’s stock worth $11,010,000 after buying an additional 290 shares during the period. Institutional investors own 60.25% of the company’s stock.

In related news, CEO Mark Zuckerberg sold 210,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $181.02, for a total value of $38,014,200.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher K. Cox sold 10,600 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $180.98, for a total value of $1,918,388.00. Following the completion of the transaction, the insider now owns 99,573 shares in the company, valued at approximately $18,020,721.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,571,582 shares of company stock valued at $448,690,663. 17.23% of the stock is currently owned by corporate insiders.

FB stock opened at $144.96 on Friday. The company has a market capitalization of $440.19 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. Facebook, Inc. has a 12-month low of $139.03 and a 12-month high of $218.62.

Facebook (NASDAQ:FB) last released its earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.30. The company had revenue of $13.73 billion during the quarter, compared to analyst estimates of $13.82 billion. Facebook had a return on equity of 27.89% and a net margin of 37.57%. Facebook’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.59 earnings per share. On average, analysts anticipate that Facebook, Inc. will post 7.35 EPS for the current year.

FB has been the topic of a number of recent analyst reports. Wedbush reissued an “outperform” rating and issued a $275.00 price objective on shares of Facebook in a research note on Friday, July 20th. Wells Fargo & Co set a $220.00 price target on Facebook and gave the stock a “buy” rating in a research note on Monday, October 29th. Cleveland Research reaffirmed a “buy” rating on shares of Facebook in a research note on Thursday, September 13th. UBS Group dropped their price target on Facebook from $180.00 to $160.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 31st. Finally, Oppenheimer reaffirmed a “buy” rating and set a $200.00 price target on shares of Facebook in a research note on Thursday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $194.54.

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Facebook 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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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