Terra Nova Asset Management LLC Purchases Shares of 7,566 Facebook Inc. (FB)
Terra Nova Asset Management LLC purchased a new position in shares of Facebook Inc. (NASDAQ:FB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,566 shares of the social networking company’s stock, valued at approximately $865,000.
Several other hedge funds also recently made changes to their positions in FB. Stelac Advisory Services LLC purchased a new position in Facebook during the first quarter worth $106,000. Kings Point Capital Management increased its position 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 period. Gradient Investments LLC increased its position 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 period. Duncker Streett & Co. Inc. increased its position in Facebook by 75.0% in the second quarter. Duncker Streett & Co. Inc. now owns 1,400 shares of the social networking company’s stock worth $160,000 after buying an additional 600 shares during the period. Finally, Carroll Financial Associates Inc. increased its position in Facebook by 3.0% in the second quarter. Carroll Financial Associates Inc. now owns 1,540 shares of the social networking company’s stock worth $175,000 after buying an additional 45 shares during the period. 56.61% of the stock is owned by institutional investors.
Facebook Inc. (NASDAQ:FB) traded down 0.45% during mid-day trading on Tuesday, hitting $128.19. The company’s stock had a trading volume of 14,307,548 shares. Facebook Inc. has a 12-month low of $89.37 and a 12-month high of $131.98. The company has a market cap of $368.12 billion, a P/E ratio of 61.28 and a beta of 0.77. The firm’s 50-day moving average is $127.15 and its 200-day moving average is $119.46.
Facebook (NASDAQ:FB) last issued its quarterly earnings results 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. The business had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6 billion. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The business’s quarterly revenue was up 59.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 earnings per share. Analysts predict that Facebook Inc. will post $3.94 EPS for the current fiscal year.
A number of equities analysts have weighed in on FB shares. Cowen and Company reaffirmed an “outperform” rating and set a $150.00 price target on shares of Facebook in a research report on Monday, September 26th. Jefferies Group reaffirmed a “buy” rating and set a $170.00 price target on shares of Facebook in a research report on Monday, August 22nd. Vetr downgraded Facebook from a “buy” rating to a “hold” rating and set a $131.43 price target for the company. in a research report on Monday, August 29th. Citigroup Inc. upped their price target on Facebook from $148.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, September 19th. Finally, Credit Agricole SA reissued a “buy” rating on shares of Facebook in a report on Friday, September 23rd. Two investment 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 assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $149.99.
In related news, Director Jan Koum sold 183,261 shares of the company’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $115.75, for a total value of $21,212,460.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan Desmond-Hellmann sold 625 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $124.01, for a total value of $77,506.25. The disclosure for this sale can be found here. Insiders own 19.08% of the company’s stock.
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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