TRB Advisors LP Buys New Position in Facebook, Inc. (FB)
TRB Advisors LP bought a new position in Facebook, Inc. (NASDAQ:FB) during the first quarter, Holdings Channel reports. The firm bought 2,500 shares of the social networking company’s stock, valued at approximately $355,000. Facebook accounts for approximately 0.5% of TRB Advisors LP’s investment portfolio, making the stock its 9th largest position.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Facebook during the fourth quarter worth $2,046,500,000. HPM Partners LLC purchased a new position in shares of Facebook during the first quarter worth $195,602,000. Alecta Pensionsforsakring Omsesidigt raised its position in shares of Facebook by 131.8% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,970,000 shares of the social networking company’s stock worth $279,838,000 after buying an additional 1,120,000 shares during the period. Karp Capital Management Corp raised its position in shares of Facebook by 6,222.5% in the first quarter. Karp Capital Management Corp now owns 896,406 shares of the social networking company’s stock worth $127,334,000 after buying an additional 882,228 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Facebook by 29.0% in the first quarter. Russell Investments Group Ltd. now owns 3,643,713 shares of the social networking company’s stock worth $517,583,000 after buying an additional 818,374 shares during the period. Institutional investors own 57.60% of the company’s stock.
Facebook, Inc. (NASDAQ FB) traded up 0.3473% during midday trading on Friday, hitting $167.9814. 5,459,464 shares of the company were exchanged. Facebook, Inc. has a 1-year low of $113.55 and a 1-year high of $175.49. The stock has a 50 day moving average of $161.08 and a 200-day moving average of $147.16. The stock has a market capitalization of $487.85 billion, a price-to-earnings ratio of 37.5966 and a beta of 0.70.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.19. The business had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The company’s revenue was up 44.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 EPS. Equities analysts expect that Facebook, Inc. will post $5.33 earnings per share for the current year.
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FB has been the topic of a number of recent research reports. Pacific Crest reiterated an “overweight” rating and set a $155.00 target price on shares of Facebook in a research note on Monday, April 24th. Needham & Company LLC increased their target price on Facebook from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Wedbush set a $185.00 target price on Facebook and gave the stock a “buy” rating in a research note on Thursday, May 4th. Morgan Stanley reissued a “buy” rating and set a $175.00 price target on shares of Facebook in a research report on Thursday, May 4th. Finally, Nomura set a $165.00 price target on Facebook and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, forty-two have issued a buy rating and three have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $182.00.
In other news, Director Susan Desmond-Hellmann sold 209 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $144.67, for a total transaction of $30,236.03. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jan Koum sold 594,246 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $149.73, for a total transaction of $88,976,453.58. The disclosure for this sale can be found here. Insiders have sold a total of 10,221,076 shares of company stock worth $1,613,683,519 over the last 90 days. Insiders own 19.08% of the company’s stock.
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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