Dakota Wealth Management reduced its stake in shares of Facebook, Inc. (NASDAQ:FB) by 61.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,423 shares of the social networking company’s stock after selling 7,001 shares during the quarter. Dakota Wealth Management’s holdings in Facebook were worth $727,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMA Wealth Inc. bought a new position in Facebook in the second quarter valued at approximately $122,000. Aviance Capital Management LLC bought a new position in Facebook in the second quarter valued at approximately $151,000. Arlington Partners LLC bought a new position in Facebook in the third quarter valued at approximately $164,000. Lenox Wealth Management Inc. boosted its stake in Facebook by 65.5% in the third quarter. Lenox Wealth Management Inc. now owns 1,023 shares of the social networking company’s stock valued at $168,000 after acquiring an additional 405 shares during the last quarter. Finally, Wagner Wealth Management LLC boosted its stake in Facebook by 100.0% in the third quarter. Wagner Wealth Management LLC now owns 1,056 shares of the social networking company’s stock valued at $174,000 after acquiring an additional 528 shares during the last quarter. 57.89% of the stock is currently owned by institutional investors and hedge funds.
In other Facebook news, insider Susan J.S. Taylor sold 2,268 shares of Facebook stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $135.81, for a total value of $308,017.08. Following the sale, the insider now directly owns 2,112 shares in the company, valued at approximately $286,830.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher K. Cox sold 15,900 shares of Facebook stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $150.07, for a total transaction of $2,386,113.00. Following the completion of the sale, the insider now owns 279,684 shares in the company, valued at $41,972,177.88. The disclosure for this sale can be found here. Insiders sold a total of 383,312 shares of company stock worth $55,392,367 over the last quarter. Company insiders own 16.25% of the company’s stock.
Several equities research analysts have weighed in on FB shares. Zacks Investment Research lowered shares of Facebook from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. Mizuho increased their target price on shares of Facebook from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, January 31st. UBS Group reiterated a “neutral” rating and issued a $170.00 target price (up from $160.00) on shares of Facebook in a report on Thursday, January 31st. CIBC reiterated an “outperform” rating and issued a $195.00 target price (up from $185.00) on shares of Facebook in a report on Thursday, January 31st. Finally, BidaskClub upgraded shares of Facebook from a “hold” rating to a “buy” rating in a report on Saturday, February 2nd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirty-nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $190.62.
Shares of FB stock opened at $162.56 on Thursday. Facebook, Inc. has a 1 year low of $123.02 and a 1 year high of $218.62. The firm has a market capitalization of $471.45 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 0.95 and a beta of 0.93.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, January 30th. The social networking company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.20. Facebook had a net margin of 39.60% and a return on equity of 27.51%. The firm had revenue of $16.91 billion for the quarter, compared to analyst estimates of $16.40 billion. During the same period in the previous year, the business earned $1.44 EPS. The company’s revenue was up 30.4% compared to the same quarter last year. Equities research analysts anticipate that Facebook, Inc. will post 7.55 earnings per share for the current fiscal year.
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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