Gilder Gagnon Howe & Co. LLC cut its stake in shares of Facebook, Inc. (NASDAQ:FB) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 376,552 shares of the social networking company’s stock after selling 2,787 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Facebook were worth $67,056,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Facebook by 2.0% during the second quarter. Vanguard Group Inc. now owns 180,682,575 shares of the social networking company’s stock worth $34,871,738,000 after purchasing an additional 3,465,756 shares during the last quarter. BlackRock Inc. lifted its stake in Facebook by 2.8% in the second quarter. BlackRock Inc. now owns 151,662,410 shares of the social networking company’s stock valued at $29,270,846,000 after buying an additional 4,114,043 shares during the last quarter. State Street Corp lifted its stake in Facebook by 0.7% in the third quarter. State Street Corp now owns 93,435,833 shares of the social networking company’s stock valued at $16,639,053,000 after buying an additional 627,442 shares during the last quarter. Invesco Ltd. lifted its stake in Facebook by 36.5% in the second quarter. Invesco Ltd. now owns 35,051,341 shares of the social networking company’s stock valued at $6,764,908,000 after buying an additional 9,368,684 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Facebook by 1.7% in the second quarter. Northern Trust Corp now owns 28,594,013 shares of the social networking company’s stock valued at $5,518,644,000 after buying an additional 470,411 shares during the last quarter. Hedge funds and other institutional investors own 63.80% of the company’s stock.
A number of equities research analysts have weighed in on the company. Wells Fargo & Co set a $260.00 price objective on Facebook and gave the company a “buy” rating in a research note on Friday, November 1st. Citigroup reissued a “buy” rating and issued a $240.00 target price on shares of Facebook in a report on Tuesday, December 3rd. Barclays dropped their target price on Facebook from $240.00 to $220.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. BMO Capital Markets dropped their target price on Facebook from $197.00 to $185.00 and set a “market perform” rating on the stock in a report on Thursday, October 31st. Finally, BidaskClub raised Facebook from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and forty-two have given a buy rating to the company. Facebook currently has an average rating of “Buy” and a consensus target price of $228.80.
Shares of FB stock traded down $0.47 during trading hours on Tuesday, reaching $200.87. The company had a trading volume of 5,406,900 shares, compared to its average volume of 11,519,627. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.66 and a current ratio of 4.66. Facebook, Inc. has a twelve month low of $123.02 and a twelve month high of $208.66. The company has a market capitalization of $574.17 billion, a P/E ratio of 26.54, a price-to-earnings-growth ratio of 1.15 and a beta of 1.05. The stock’s fifty day simple moving average is $194.78 and its 200 day simple moving average is $188.76.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.21. Facebook had a return on equity of 20.39% and a net margin of 27.08%. The firm had revenue of $17.65 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter last year, the firm earned $1.76 EPS. Facebook’s quarterly revenue was up 28.6% on a year-over-year basis. As a group, equities analysts expect that Facebook, Inc. will post 8.48 earnings per share for the current year.
In other news, CRO David B. Fischer sold 11,638 shares of Facebook stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $202.00, for a total value of $2,350,876.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jennifer Newstead sold 260 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $200.01, for a total value of $52,002.60. Following the completion of the transaction, the vice president now directly owns 2,866 shares in the company, valued at $573,228.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,247,226 shares of company stock worth $603,908,828. 14.53% of the stock is currently owned by company insiders.
Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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