TimesSquare Capital Management LLC Cuts Holdings in Facebook, Inc. (NASDAQ:FB)

TimesSquare Capital Management LLC reduced its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 10.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,723 shares of the social networking company’s stock after selling 430 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Facebook were worth $1,097,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in FB. Norges Bank acquired a new position in shares of Facebook during the 4th quarter worth about $8,021,574,000. Morgan Stanley boosted its position in shares of Facebook by 44.5% in the 4th quarter. Morgan Stanley now owns 30,382,192 shares of the social networking company’s stock valued at $8,299,199,000 after purchasing an additional 9,362,408 shares during the period. Itau Unibanco Holding S.A. boosted its position in shares of Facebook by 1,791.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 7,405,858 shares of the social networking company’s stock valued at $18,849,000 after purchasing an additional 7,014,302 shares during the period. Cibc World Markets Corp boosted its position in shares of Facebook by 357.0% in the 4th quarter. Cibc World Markets Corp now owns 4,219,334 shares of the social networking company’s stock valued at $1,152,553,000 after purchasing an additional 3,296,086 shares during the period. Finally, Sanders Capital LLC boosted its position in shares of Facebook by 34.8% in the 1st quarter. Sanders Capital LLC now owns 9,213,078 shares of the social networking company’s stock valued at $2,948,108,000 after purchasing an additional 2,380,105 shares during the period. 65.63% of the stock is owned by institutional investors and hedge funds.

In other Facebook news, VP Jennifer Newstead sold 250 shares of the firm’s stock in a transaction dated Thursday, May 20th. The stock was sold at an average price of $313.36, for a total value of $78,340.00. Following the transaction, the vice president now directly owns 9,890 shares of the company’s stock, valued at $3,099,130.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 45,758 shares of the firm’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $272.72, for a total value of $12,479,121.76. The disclosure for this sale can be found here. Insiders sold 2,031,403 shares of company stock worth $632,050,379 over the last three months. 14.01% of the stock is currently owned by corporate insiders.

FB has been the subject of a number of research analyst reports. Robert W. Baird upped their target price on Facebook from $320.00 to $340.00 in a research report on Thursday, April 29th. Monness Crespi & Hardt upped their price objective on Facebook from $375.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, April 29th. Loop Capital upped their price objective on Facebook from $330.00 to $370.00 and gave the company a “buy” rating in a research note on Tuesday, February 16th. Truist upped their price objective on Facebook from $350.00 to $400.00 in a research note on Thursday, April 29th. Finally, KeyCorp upped their price objective on Facebook from $360.00 to $414.00 and gave the company an “overweight” rating in a research note on Thursday, April 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $370.93.

Shares of Facebook stock opened at $332.46 on Friday. Facebook, Inc. has a twelve month low of $207.11 and a twelve month high of $338.30. The firm has a market capitalization of $942.68 billion, a PE ratio of 28.44, a P/E/G ratio of 1.27 and a beta of 1.30. The firm has a fifty day moving average price of $315.72.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, April 28th. The social networking company reported $3.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.36 by $0.94. Facebook had a return on equity of 27.54% and a net margin of 35.74%. The firm had revenue of $26.20 billion for the quarter, compared to analysts’ expectations of $23.61 billion. During the same quarter last year, the firm earned $1.71 earnings per share. The firm’s revenue for the quarter was up 47.7% compared to the same quarter last year. Equities research analysts anticipate that Facebook, Inc. will post 13.18 EPS for the current fiscal year.

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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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