Signature Estate & Investment Advisors LLC grew its holdings in Facebook, Inc. (NASDAQ:FB) by 163.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,836 shares of the social networking company’s stock after purchasing an additional 1,761 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Facebook were worth $547,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Cantor Fitzgerald Investment Adviser L.P. acquired a new stake in shares of Facebook in the 2nd quarter valued at approximately $205,000. Executive Wealth Management LLC acquired a new stake in shares of Facebook in the 4th quarter valued at approximately $5,196,000. Ruggie Capital Group raised its position in shares of Facebook by 53.8% in the 4th quarter. Ruggie Capital Group now owns 446 shares of the social networking company’s stock valued at $58,000 after acquiring an additional 156 shares during the period. Heritage Investors Management Corp raised its position in shares of Facebook by 13.1% in the 4th quarter. Heritage Investors Management Corp now owns 36,210 shares of the social networking company’s stock valued at $4,747,000 after acquiring an additional 4,190 shares during the period. Finally, Quantamental Technologies LLC acquired a new stake in shares of Facebook in the 4th quarter valued at approximately $80,000. 62.11% of the stock is currently owned by institutional investors.
In related news, COO Sheryl Sandberg sold 55,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $200.81, for a total value of $11,044,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Susan J.S. Taylor sold 1,472 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $181.89, for a total transaction of $267,742.08. Following the completion of the transaction, the insider now directly owns 569 shares of the company’s stock, valued at $103,495.41. The disclosure for this sale can be found here. Insiders sold 863,283 shares of company stock valued at $160,819,836 over the last three months. 14.53% of the stock is owned by company insiders.
Shares of NASDAQ:FB traded up $1.11 during midday trading on Friday, hitting $183.70. The stock had a trading volume of 12,654,600 shares, compared to its average volume of 17,575,930. Facebook, Inc. has a 12 month low of $123.02 and a 12 month high of $208.66. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.08. The business’s 50-day simple moving average is $194.93 and its 200-day simple moving average is $180.55. The company has a market cap of $524.09 billion, a P/E ratio of 24.27, a PEG ratio of 1.05 and a beta of 0.99.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.09. Facebook had a net margin of 27.26% and a return on equity of 20.09%. The business had revenue of $16.89 billion during the quarter, compared to analysts’ expectations of $16.49 billion. During the same period last year, the business earned $1.74 earnings per share. The firm’s revenue was up 27.6% on a year-over-year basis. As a group, equities analysts predict that Facebook, Inc. will post 7.96 earnings per share for the current year.
A number of analysts recently weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $220.00 price target on shares of Facebook in a research report on Monday, July 22nd. Credit Suisse Group increased their price target on shares of Facebook from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Argus increased their price target on shares of Facebook from $206.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Bank of America set a $224.00 price target on shares of Facebook and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Robert W. Baird increased their price target on shares of Facebook from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and forty-two have given a buy rating to the company. Facebook currently has an average rating of “Buy” and an average target price of $220.92.
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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