Allen Operations LLC Has $461,000 Stake in Facebook, Inc. (FB)
Allen Operations LLC reduced its position in Facebook, Inc. (NASDAQ:FB) by 13.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,248 shares of the social networking company’s stock after selling 506 shares during the period. Facebook makes up approximately 0.5% of Allen Operations LLC’s investment portfolio, making the stock its 18th largest position. Allen Operations LLC’s holdings in Facebook were worth $461,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. Arcadia Investment Management Corp MI raised its stake 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 valued at $102,000 after buying an additional 120 shares during the period. Cohen Capital Management Inc. purchased a new stake in Facebook during the first quarter valued at approximately $121,000. Cable Hill Partners LLC raised its stake in Facebook by 9.5% in the first quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock valued at $129,000 after buying an additional 79 shares during the period. Viking Fund Management LLC purchased a new stake in Facebook during the first quarter valued at approximately $142,000. Finally, State of Alaska Department of Revenue purchased a new stake in Facebook during the first quarter valued at approximately $180,000. Institutional investors own 57.60% of the company’s stock.
Shares of Facebook, Inc. (FB) traded down 1.27% on Thursday, reaching $169.00. 4,908,132 shares of the company’s stock traded hands. Facebook, Inc. has a 52-week low of $113.55 and a 52-week high of $175.49. The stock has a market cap of $490.81 billion, a price-to-earnings ratio of 37.82 and a beta of 0.70. The firm’s 50-day moving average is $160.69 and its 200-day moving average is $147.01.
Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The firm had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the business earned $0.97 earnings per share. Facebook’s revenue for the quarter was up 44.8% on a year-over-year basis. Analysts anticipate that Facebook, Inc. will post $5.33 EPS for the current fiscal year.
Several equities research analysts have commented on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $185.00 price objective on shares of Facebook in a research note on Saturday, June 3rd. Barclays PLC reiterated an “overweight” rating and issued a $168.00 price objective (up previously from $160.00) on shares of Facebook in a research note on Wednesday, July 12th. Vetr upgraded shares of Facebook from a “hold” rating to a “buy” rating and set a $159.91 price objective for the company in a research note on Tuesday, June 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $192.00 price objective (up previously from $175.00) on shares of Facebook in a research note on Thursday, July 27th. Finally, Pacific Crest reiterated an “overweight” rating and issued a $155.00 price objective on shares of Facebook in a research note on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, forty-two have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $180.91.
In related news, Director Jan Koum sold 3,600,000 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $160.06, for a total transaction of $576,216,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan Desmond-Hellmann sold 209 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $144.67, for a total transaction of $30,236.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,183,113 shares of company stock valued at $1,607,154,643. 19.08% of the stock is owned by company insiders.
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.
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