USS Investment Management Ltd reduced its position in shares of Facebook Inc (NASDAQ:FB) by 31.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,237,000 shares of the social networking company’s stock after selling 570,000 shares during the period. Facebook makes up approximately 1.7% of USS Investment Management Ltd’s portfolio, making the stock its 8th largest position. USS Investment Management Ltd’s holdings in Facebook were worth $186,762,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. D. Scott Neal Inc. grew its position in shares of Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after purchasing an additional 679 shares during the last quarter. Farmers & Merchants Investments Inc. grew its position in shares of Facebook by 4.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock valued at $122,000 after purchasing an additional 34 shares during the last quarter. Pacific Center for Financial Services grew its position in shares of Facebook by 10.7% in the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock valued at $129,000 after purchasing an additional 88 shares during the last quarter. Crow Point Partners LLC acquired a new stake in shares of Facebook in the second quarter valued at approximately $142,000. Finally, Vigilant Capital Management LLC grew its position in shares of Facebook by 17.8% in the second quarter. Vigilant Capital Management LLC now owns 991 shares of the social networking company’s stock valued at $150,000 after purchasing an additional 150 shares during the last quarter. 57.86% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Mark Zuckerberg sold 247,147 shares of Facebook stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $171.96, for a total value of $42,499,398.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $171.60, for a total transaction of $128,700.00. Following the completion of the sale, the vice president now owns 84,246 shares in the company, valued at $14,456,613.60. The disclosure for this sale can be found here. Insiders sold a total of 5,179,772 shares of company stock valued at $921,968,896 over the last ninety days. Company insiders own 17.23% of the company’s stock.
FB has been the topic of several research reports. Zacks Investment Research lowered shares of Facebook from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Cowen restated an “outperform” rating and set a $195.00 target price on shares of Facebook in a research report on Thursday, August 10th. SunTrust Banks initiated coverage on shares of Facebook in a research report on Tuesday, August 15th. They set a “buy” rating and a $210.00 target price on the stock. Vetr upgraded shares of Facebook from a “hold” rating to a “buy” rating and set a $174.15 target price on the stock in a research report on Monday, August 21st. Finally, Robert W. Baird restated a “buy” rating and set a $185.00 target price on shares of Facebook in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, forty-two have assigned a buy rating and three have given a strong buy rating to the company’s stock. Facebook presently has a consensus rating of “Buy” and an average price target of $200.70.
Facebook Inc (FB) traded up $4.08 on Thursday, reaching $180.14. 20,361,248 shares of the company were exchanged, compared to its average volume of 16,960,707. The firm has a market cap of $502,210.81, a price-to-earnings ratio of 33.30, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69. Facebook Inc has a 1-year low of $114.77 and a 1-year high of $184.25.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.31. The company had revenue of $10.33 billion during the quarter, compared to analyst estimates of $9.84 billion. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period last year, the business earned $1.09 EPS. sell-side analysts anticipate that Facebook Inc will post 5.86 earnings per share for the current year.
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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