Facebook Inc. (FB) Position Cut by Benchmark Capital Advisors
Benchmark Capital Advisors decreased its stake in shares of Facebook Inc. (NASDAQ:FB) by 47.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,380 shares of the social networking company’s stock after selling 14,120 shares during the period. Facebook makes up 1.4% of Benchmark Capital Advisors’ portfolio, making the stock its 22nd largest position. Benchmark Capital Advisors’ holdings in Facebook were worth $1,758,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in FB. Stelac Advisory Services LLC acquired a new position in shares of Facebook during the first quarter valued at $106,000. Bartlett & Co. LLC boosted its stake in Facebook by 8.9% in the second quarter. Bartlett & Co. LLC now owns 1,116 shares of the social networking company’s stock worth $128,000 after buying an additional 91 shares during the last quarter. Kings Point Capital Management boosted its stake in Facebook by 20.1% in the first quarter. Kings Point Capital Management now owns 1,193 shares of the social networking company’s stock worth $136,000 after buying an additional 200 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in Facebook by 1.5% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,230 shares of the social networking company’s stock worth $140,000 after buying an additional 18 shares during the last quarter. Finally, Gradient Investments LLC boosted its stake in Facebook by 25.2% in the second quarter. Gradient Investments LLC now owns 1,365 shares of the social networking company’s stock worth $156,000 after buying an additional 275 shares during the last quarter. 56.61% of the stock is currently owned by institutional investors.
Facebook Inc. (NASDAQ:FB) opened at 128.27 on Friday. Facebook Inc. has a 1-year low of $89.37 and a 1-year high of $131.98. The company has a 50-day moving average price of $126.92 and a 200 day moving average price of $119.10. The firm has a market capitalization of $368.35 billion, a price-to-earnings ratio of 61.31 and a beta of 0.76.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, July 27th. The social networking company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.15. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The business earned $6.44 billion during the quarter, compared to analyst estimates of $6 billion. During the same period in the prior year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 59.2% compared to the same quarter last year. Equities analysts anticipate that Facebook Inc. will post $3.94 earnings per share for the current year.
A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. restated an “overweight” rating and set a $170.00 target price on shares of Facebook in a research note on Friday, September 9th. Loop Capital assumed coverage on shares of Facebook in a research note on Thursday, September 22nd. They set a “buy” rating and a $165.00 target price on the stock. They noted that the move was a valuation call. Credit Agricole SA reaffirmed a “buy” rating on shares of Facebook in a report on Friday, September 23rd. Robert W. Baird reaffirmed an “outperform” rating and set a $155.00 price objective on shares of Facebook in a report on Tuesday, September 6th. Finally, Vetr lowered shares of Facebook from a “buy” rating to a “hold” rating and set a $134.63 price objective for the company. in a report on Tuesday, September 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, forty-four have given a buy rating and two have issued a strong buy rating to the company. Facebook presently has an average rating of “Buy” and an average price target of $149.79.
In other news, CAO Jas Athwal sold 4,923 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $124.07, for a total transaction of $610,796.61. Following the completion of the sale, the chief accounting officer now directly owns 125,394 shares of the company’s stock, valued at approximately $15,557,633.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $127.63, for a total value of $95,722.50. Following the sale, the vice president now directly owns 85,190 shares of the company’s stock, valued at $10,872,799.70. The disclosure for this sale can be found here. 19.08% of the stock is owned by corporate insiders.
Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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