CRA Financial Services LLC Increases Stake in Facebook, Inc. (NASDAQ:FB)

CRA Financial Services LLC grew its holdings in Facebook, Inc. (NASDAQ:FB) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,102 shares of the social networking company’s stock after acquiring an additional 435 shares during the period. Facebook accounts for 1.5% of CRA Financial Services LLC’s portfolio, making the stock its 14th largest holding. CRA Financial Services LLC’s holdings in Facebook were worth $3,170,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Biltmore Capital Advisors LLC lifted its holdings in Facebook by 1.2% in the 2nd quarter. Biltmore Capital Advisors LLC now owns 3,366 shares of the social networking company’s stock worth $764,000 after purchasing an additional 40 shares in the last quarter. Strategic Wealth Management Group LLC raised its position in shares of Facebook by 0.5% during the second quarter. Strategic Wealth Management Group LLC now owns 9,152 shares of the social networking company’s stock valued at $2,078,000 after buying an additional 43 shares during the last quarter. Genesee Capital Advisors LLC lifted its holdings in shares of Facebook by 1.6% in the second quarter. Genesee Capital Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $632,000 after buying an additional 44 shares in the last quarter. Parisi Gray Wealth Management lifted its holdings in shares of Facebook by 0.5% in the second quarter. Parisi Gray Wealth Management now owns 9,175 shares of the social networking company’s stock worth $2,087,000 after buying an additional 44 shares in the last quarter. Finally, Cottage Street Advisors LLC boosted its position in shares of Facebook by 0.6% during the second quarter. Cottage Street Advisors LLC now owns 8,488 shares of the social networking company’s stock worth $1,927,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

In related news, VP Jennifer Newstead sold 194 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $246.22, for a total value of $47,766.68. Following the completion of the transaction, the vice president now owns 2,112 shares of the company’s stock, valued at $520,016.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Michael Todd Schroepfer sold 112 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $262.09, for a total transaction of $29,354.08. Following the completion of the transaction, the chief technology officer now directly owns 498,238 shares of the company’s stock, valued at approximately $130,583,197.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,023 shares of company stock worth $9,420,337. Insiders own 14.14% of the company’s stock.

Several analysts have commented on FB shares. Citigroup boosted their price target on shares of Facebook from $275.00 to $315.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. They noted that the move was a valuation call. Needham & Company LLC assumed coverage on Facebook in a research report on Thursday, July 2nd. They issued a “hold” rating on the stock. Cfra cut Facebook from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. Barclays lifted their price objective on Facebook from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Finally, Tigress Financial reiterated a “buy” rating on shares of Facebook in a research report on Tuesday, September 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $283.11.

Shares of NASDAQ:FB opened at $265.93 on Friday. The firm’s 50 day simple moving average is $268.73 and its 200-day simple moving average is $234.17. Facebook, Inc. has a one year low of $137.10 and a one year high of $304.67. The firm has a market cap of $757.59 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 1.80 and a beta of 1.29.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.44 by $0.36. The company had revenue of $18.69 billion for the quarter, compared to the consensus estimate of $17.29 billion. Facebook had a return on equity of 22.90% and a net margin of 31.29%. On average, sell-side analysts expect that Facebook, Inc. will post 8.11 EPS for the current fiscal year.

Facebook Company Profile

Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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