Epstein & White Financial LLC Cuts Stock Holdings in Facebook, Inc. (NASDAQ:FB)

Epstein & White Financial LLC lowered its position in shares of Facebook, Inc. (NASDAQ:FB) by 5.9% in the third quarter, Holdings Channel.com reports. The fund owned 1,152 shares of the social networking company’s stock after selling 72 shares during the quarter. Epstein & White Financial LLC’s holdings in Facebook were worth $301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FB. Capital International Investors raised its position in shares of Facebook by 14.1% in the first quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock valued at $8,604,068,000 after buying an additional 6,394,036 shares during the last quarter. Copper Rock Capital Partners LLC raised its holdings in Facebook by 6,224.9% in the 2nd quarter. Copper Rock Capital Partners LLC now owns 3,959,790 shares of the social networking company’s stock valued at $821,695,000 after acquiring an additional 3,897,184 shares during the last quarter. Public Investment Fund purchased a new position in Facebook in the 1st quarter worth approximately $521,859,000. GQG Partners LLC purchased a new position in Facebook in the 2nd quarter worth approximately $590,767,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Facebook by 11.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 24,179,742 shares of the social networking company’s stock worth $5,490,495,000 after purchasing an additional 2,431,190 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Shares of FB stock opened at $265.93 on Friday. The company has a market cap of $757.59 billion, a P/E ratio of 32.47, a PEG ratio of 1.80 and a beta of 1.29. The firm has a fifty day moving average price of $268.73 and a 200 day moving average price of $234.17. Facebook, Inc. has a 12 month low of $137.10 and a 12 month high of $304.67.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.36. Facebook had a return on equity of 22.90% and a net margin of 31.29%. The business had revenue of $18.69 billion during the quarter, compared to analysts’ expectations of $17.29 billion. As a group, equities analysts expect that Facebook, Inc. will post 8.11 earnings per share for the current fiscal year.

In other news, CRO David B. Fischer sold 13,110 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $293.95, for a total value of $3,853,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jennifer Newstead sold 194 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 2,112 shares of the company’s stock, valued at $520,016.64. The disclosure for this sale can be found here. Insiders sold 34,023 shares of company stock valued at $9,420,337 over the last ninety days. 14.14% of the stock is currently owned by corporate insiders.

A number of equities analysts have weighed in on the company. Rosenblatt Securities boosted their price objective on Facebook from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Goldman Sachs Group reissued a “buy” rating and issued a $303.00 price objective (up previously from $265.00) on shares of Facebook in a report on Friday, July 31st. Tigress Financial restated a “buy” rating on shares of Facebook in a research report on Tuesday, September 1st. Oppenheimer boosted their target price on shares of Facebook from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Tuesday, September 22nd. Finally, Morgan Stanley raised their price target on shares of Facebook from $285.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, September 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company. Facebook has an average rating of “Buy” and an average target price of $283.11.

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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