Glynn Capital Management LLC increased its holdings in Facebook, Inc. (NASDAQ:FB) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 246,019 shares of the social networking company’s stock after buying an additional 3,180 shares during the period. Facebook accounts for 8.1% of Glynn Capital Management LLC’s investment portfolio, making the stock its 3rd biggest position. Glynn Capital Management LLC’s holdings in Facebook were worth $47,482,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Whitnell & Co. bought a new position in Facebook in the 4th quarter valued at $26,000. Cordasco Financial Network raised its position in shares of Facebook by 70.0% during the 2nd quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock valued at $33,000 after buying an additional 70 shares in the last quarter. Signet Investment Advisory Group Inc. purchased a new stake in shares of Facebook during the 4th quarter valued at $39,000. Clean Yield Group purchased a new stake in shares of Facebook during the 2nd quarter valued at $39,000. Finally, Litman Gregory Asset Management LLC purchased a new stake in shares of Facebook during the 2nd quarter valued at $41,000. 62.44% of the stock is owned by institutional investors.
In other news, CRO David B. Fischer sold 11,572 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $180.28, for a total transaction of $2,086,200.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $181.95, for a total transaction of $1,364,625.00. The disclosure for this sale can be found here. Insiders have sold 861,811 shares of company stock valued at $160,552,094 over the last three months. 14.53% of the stock is owned by corporate insiders.
Several analysts have recently weighed in on FB shares. Pivotal Research restated a “buy” rating and set a $225.00 price objective (up previously from $220.00) on shares of Facebook in a research report on Thursday, July 25th. UBS Group restated a “buy” rating and set a $240.00 price objective on shares of Facebook in a research report on Thursday, July 25th. BMO Capital Markets lowered their price objective on shares of Facebook to $195.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 23rd. JMP Securities raised their price objective on shares of Facebook from $220.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Mizuho raised their price objective on shares of Facebook from $230.00 to $247.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and forty-two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $220.92.
NASDAQ:FB traded up $2.87 during mid-day trading on Monday, hitting $186.57. 237,225 shares of the company’s stock were exchanged, compared to its average volume of 17,631,084. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.47 and a quick ratio of 4.47. The company has a market cap of $520.92 billion, a PE ratio of 24.69, a P/E/G ratio of 1.07 and a beta of 0.99. Facebook, Inc. has a one year low of $123.02 and a one year high of $208.66. The business has a fifty day moving average price of $194.93 and a 200 day moving average price of $180.55.
Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.09. The business had revenue of $16.89 billion during the quarter, compared to analysts’ expectations of $16.49 billion. Facebook had a net margin of 27.26% and a return on equity of 20.09%. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.74 earnings per share. On average, equities analysts forecast that Facebook, Inc. will post 7.96 EPS for the current fiscal year.
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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