Archford Capital Strategies LLC Has $2.38 Million Stake in Facebook, Inc. (NASDAQ:FB)

Archford Capital Strategies LLC boosted its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 1.6% in the third quarter, HoldingsChannel reports. The firm owned 7,008 shares of the social networking company’s stock after acquiring an additional 113 shares during the period. Archford Capital Strategies LLC’s holdings in Facebook were worth $2,378,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Genesee Capital Advisors LLC acquired a new stake in Facebook during the 3rd quarter valued at $1,166,000. Norway Savings Bank increased its stake in shares of Facebook by 2.2% in the 3rd quarter. Norway Savings Bank now owns 1,744 shares of the social networking company’s stock valued at $592,000 after buying an additional 38 shares during the period. First United Bank & Trust increased its stake in shares of Facebook by 2.9% in the 3rd quarter. First United Bank & Trust now owns 1,468 shares of the social networking company’s stock valued at $498,000 after buying an additional 41 shares during the period. Schneider Downs Wealth Management Advisors LP increased its stake in shares of Facebook by 4.5% in the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 2,307 shares of the social networking company’s stock valued at $783,000 after buying an additional 99 shares during the period. Finally, Aprio Wealth Management LLC increased its stake in shares of Facebook by 5.8% in the 3rd quarter. Aprio Wealth Management LLC now owns 640 shares of the social networking company’s stock valued at $217,000 after buying an additional 35 shares during the period. 65.74% of the stock is owned by hedge funds and other institutional investors.

In other news, CAO Susan J.S. Taylor sold 1,378 shares of the company’s stock in a transaction that occurred on Wednesday, November 17th. The stock was sold at an average price of $344.22, for a total value of $474,335.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 250 shares of the company’s stock in a transaction that occurred on Tuesday, November 23rd. The shares were sold at an average price of $338.82, for a total value of $84,705.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,893,113 shares of company stock worth $660,001,361. 14.01% of the stock is owned by company insiders.

NASDAQ:FB opened at $341.06 on Thursday. The stock’s 50-day simple moving average is $336.80 and its 200 day simple moving average is $344.31. The company has a market cap of $948.75 billion, a P/E ratio of 24.34, a P/E/G ratio of 1.22 and a beta of 1.27. Facebook, Inc. has a 52-week low of $244.61 and a 52-week high of $384.33.

Facebook (NASDAQ:FB) last released its earnings results on Sunday, October 24th. The social networking company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.03. The business had revenue of $29.01 billion for the quarter, compared to the consensus estimate of $29.52 billion. Facebook had a return on equity of 30.22% and a net margin of 35.88%. Facebook’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.71 earnings per share. Research analysts anticipate that Facebook, Inc. will post 13.96 EPS for the current year.

Several equities research analysts have recently commented on the company. UBS Group set a $416.00 target price on Facebook in a research note on Tuesday, October 26th. Jefferies Financial Group set a $420.00 target price on Facebook and gave the company a “buy” rating in a research note on Tuesday, October 26th. Truist Securities lifted their target price on Facebook from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Raymond James lowered their target price on Facebook from $450.00 to $410.00 and set a “strong-buy” rating for the company in a research note on Tuesday, October 26th. They noted that the move was a valuation call. Finally, Morgan Stanley decreased their price objective on Facebook from $400.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, October 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $398.00.

Facebook Company Profile

Meta Platforms, Inc, (formerly known as Facebook, Inc) operates as a global social technology company. The company engages in the development of social media applications as well as virtual and augmented reality products allowing users to connect through mobile devices, personal computers and other platforms.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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