Highland Capital Management LLC increased its position in Facebook, Inc. (NASDAQ:FB) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,953 shares of the social networking company’s stock after buying an additional 89 shares during the period. Highland Capital Management LLC’s holdings in Facebook were worth $9,354,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI boosted its position in Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after buying an additional 120 shares in the last quarter. D. Scott Neal Inc. boosted its position in Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after buying an additional 679 shares in the last quarter. Cohen Capital Management Inc. bought a new position in Facebook during the first quarter worth approximately $121,000. Cable Hill Partners LLC boosted its position in Facebook by 9.5% in the first quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock worth $129,000 after buying an additional 79 shares in the last quarter. Finally, Pacific Center for Financial Services boosted its position in Facebook by 10.7% in the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock worth $129,000 after buying an additional 88 shares in the last quarter. 57.60% of the stock is owned by institutional investors and hedge funds.

Shares of Facebook, Inc. (NASDAQ FB) traded up 0.0178% during trading on Wednesday, hitting $171.2605. 6,324,107 shares of the stock traded hands. The stock has a 50 day moving average of $159.02 and a 200 day moving average of $145.94. The firm has a market cap of $497.37 billion, a price-to-earnings ratio of 38.3305 and a beta of 0.70. Facebook, Inc. has a 52-week low of $113.55 and a 52-week high of $175.49.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.19. The firm had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.19 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. Facebook’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Analysts expect that Facebook, Inc. will post $5.33 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Highland Capital Management LLC Increases Stake in Facebook, Inc. (FB)” was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this article on another site, it was stolen and republished in violation of US and international trademark & copyright laws. The original version of this article can be read at https://www.dailypolitical.com/2017/08/09/highland-capital-management-llc-increases-stake-in-facebook-inc-fb.html.

A number of equities analysts have commented on the stock. UBS AG reissued a “buy” rating and issued a $165.00 price target on shares of Facebook in a research note on Wednesday, April 19th. Jefferies Group LLC reissued a “buy” rating and issued a $192.00 price target (up previously from $175.00) on shares of Facebook in a research note on Thursday, July 27th. Robert W. Baird set a $185.00 price target on shares of Facebook and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. BMO Capital Markets reissued a “market perform” rating and issued a $170.00 price target (up previously from $150.00) on shares of Facebook in a research note on Thursday, July 27th. Finally, Piper Jaffray Companies boosted their price target on shares of Facebook to $195.00 and gave the stock a “positive” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-two have given a buy rating and four have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $180.91.

In other Facebook news, Director Peter Thiel sold 60,316 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $172.25, for a total value of $10,389,431.00. Following the completion of the transaction, the director now directly owns 6,311 shares of the company’s stock, valued at $1,087,069.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jan Koum sold 594,246 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $149.73, for a total value of $88,976,453.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,166,363 shares of company stock worth $1,604,306,533. 19.08% of the stock is owned by insiders.

Facebook Company Profile

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Receive News & Ratings for Facebook Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook Inc. and related companies with MarketBeat.com's FREE daily email newsletter.