Vishria Bird Financial Group LLC Takes $621,000 Position in Facebook, Inc. (FB)
Vishria Bird Financial Group LLC purchased a new position in Facebook, Inc. (NASDAQ:FB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,195 shares of the social networking company’s stock, valued at approximately $621,000. Facebook accounts for about 0.6% of Vishria Bird Financial Group LLC’s investment portfolio, making the stock its 22nd biggest position.
Several other institutional investors have also recently added to or reduced their stakes in FB. Cribstone Capital Management LLC boosted its position in Facebook by 186.2% during the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock valued at $121,000 after buying an additional 406 shares during the period. IMA Wealth Inc. purchased a new stake in Facebook during the second quarter valued at about $122,000. Trust Department MB Financial Bank N A purchased a new stake in Facebook during the second quarter valued at about $134,000. Northwest Wealth Management LLC purchased a new stake in Facebook during the second quarter valued at about $194,000. Finally, GenWealth Group Inc. purchased a new stake in Facebook during the second quarter valued at about $200,000. 60.17% of the stock is currently owned by hedge funds and other institutional investors.
In other Facebook news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $151.57, for a total value of $113,677.50. Following the completion of the transaction, the vice president now directly owns 90,144 shares of the company’s stock, valued at approximately $13,663,126.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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. Insiders sold a total of 2,257,945 shares of company stock valued at $391,944,428 over the last three months. Corporate insiders own 16.25% of the company’s stock.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.30. The firm had revenue of $13.73 billion for the quarter, compared to the consensus estimate of $13.82 billion. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The company’s revenue was up 32.9% on a year-over-year basis. During the same period last year, the firm earned $1.59 EPS. As a group, equities research analysts forecast that Facebook, Inc. will post 7.35 earnings per share for the current fiscal year.
Several brokerages have recently commented on FB. Wedbush reaffirmed an “outperform” rating and set 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 objective on shares of Facebook and gave the company a “buy” rating in a research note on Monday, October 29th. Cleveland Research reissued a “buy” rating on shares of Facebook in a research note on Thursday, September 13th. UBS Group decreased their price target on shares of Facebook from $180.00 to $160.00 and set a “neutral” rating for the company in a research note on Wednesday, October 31st. Finally, Oppenheimer reissued a “buy” rating and issued a $200.00 price target on shares of Facebook in a research note on Thursday, July 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. Facebook has an average rating of “Buy” and a consensus target price of $194.54.
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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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