Hound Partners LLC Buys 82,936 Shares of Facebook, Inc. (NASDAQ:FB)

Hound Partners LLC lifted its stake in shares of Facebook, Inc. (NASDAQ:FB) by 27.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 381,883 shares of the social networking company’s stock after buying an additional 82,936 shares during the period. Facebook makes up 5.3% of Hound Partners LLC’s investment portfolio, making the stock its 3rd biggest position. Hound Partners LLC’s holdings in Facebook were worth $112,476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in Facebook by 2.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 104,548,050 shares of the social networking company’s stock valued at $30,792,537,000 after purchasing an additional 2,802,398 shares during the last quarter. Geode Capital Management LLC raised its position in Facebook by 1.9% in the first quarter. Geode Capital Management LLC now owns 37,780,412 shares of the social networking company’s stock valued at $11,095,469,000 after purchasing an additional 712,271 shares during the last quarter. Morgan Stanley raised its position in Facebook by 44.5% in the fourth 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 last quarter. Norges Bank bought a new position in Facebook in the fourth quarter valued at about $8,021,574,000. Finally, Janus Henderson Group PLC raised its position in Facebook by 8.5% in the first quarter. Janus Henderson Group PLC now owns 13,548,108 shares of the social networking company’s stock valued at $3,990,513,000 after purchasing an additional 1,060,482 shares during the last quarter. 65.41% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on FB. UBS Group restated a “buy” rating and set a $380.00 price objective on shares of Facebook in a research report on Thursday, April 29th. KeyCorp raised their price objective on Facebook from $360.00 to $414.00 and gave the stock an “overweight” rating in a research report on Thursday, April 29th. Credit Suisse Group set a $400.00 target price on Facebook and gave the stock a “buy” rating in a report on Thursday, April 29th. Zacks Investment Research downgraded Facebook from a “buy” rating to a “hold” rating and set a $409.00 target price for the company. in a report on Tuesday, June 29th. Finally, Evercore ISI lifted their target price on Facebook from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, April 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Facebook has an average rating of “Buy” and an average target price of $376.58.

Shares of NASDAQ:FB traded up $3.09 during midday trading on Thursday, reaching $349.32. 436,987 shares of the company traded hands, compared to its average volume of 13,889,378. Facebook, Inc. has a 12 month low of $226.90 and a 12 month high of $358.79. The company has a market capitalization of $990.49 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. The business’s fifty day moving average price is $335.86.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, April 28th. The social networking company reported $3.30 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $26.20 billion during the quarter, compared to analysts’ expectations of $23.61 billion. During the same period in the previous year, the business earned $1.71 earnings per share. The firm’s revenue was up 47.7% on a year-over-year basis. As a group, equities research analysts forecast that Facebook, Inc. will post 13.19 EPS for the current year.

In other news, CEO Mark Zuckerberg sold 68,000 shares of the company’s stock in a transaction dated Friday, April 23rd. The stock was sold at an average price of $300.03, for a total value of $20,402,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jennifer Newstead sold 250 shares of the company’s stock in a transaction dated Tuesday, June 29th. The stock was sold at an average price of $356.49, for a total value of $89,122.50. Following the completion of the transaction, the vice president now owns 8,390 shares of the company’s stock, valued at $2,990,951.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,460,920 shares of company stock valued at $814,534,268. 14.01% of the stock is owned by company insiders.

About Facebook

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.

See Also: SEC Filing

Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.