Gareth Morgan Investments Limited Partnership decreased its stake in Facebook Inc (NASDAQ:FB) by 23.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,244 shares of the social networking company’s stock after selling 31,460 shares during the period. Facebook comprises about 1.2% of Gareth Morgan Investments Limited Partnership’s portfolio, making the stock its 12th largest position. Gareth Morgan Investments Limited Partnership’s holdings in Facebook were worth $14,240,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Arcadia Investment Management Corp MI increased 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 worth $102,000 after buying an additional 120 shares in the last quarter. Cohen Capital Management Inc. acquired a new stake in Facebook during the first quarter worth about $121,000. Cable Hill Partners LLC increased 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 worth $129,000 after buying an additional 79 shares in the last quarter. Viking Fund Management LLC acquired a new stake in Facebook during the first quarter worth about $142,000. Finally, State of Alaska Department of Revenue acquired a new stake in Facebook during the first quarter worth about $180,000. 57.60% of the stock is owned by institutional investors and hedge funds.

Facebook Inc (FB) traded up 0.41% during midday trading on Friday, reaching $168.08. 13,791,153 shares of the company traded hands. Facebook Inc has a 1-year low of $113.55 and a 1-year high of $175.49. The firm has a 50-day moving average of $161.50 and a 200-day moving average of $147.44. The stock has a market capitalization of $488.14 billion, a P/E ratio of 37.62 and a beta of 0.70.

Facebook (NASDAQ:FB) last released its earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.19. Facebook had a return on equity of 24.25% and a net margin of 41.78%. The firm had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The company’s revenue was up 44.8% compared to the same quarter last year. On average, analysts predict that Facebook Inc will post $5.33 earnings per share for the current year.

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A number of analysts have issued reports on the stock. Barclays PLC set a $200.00 price objective on shares of Facebook and gave the company a “buy” rating in a report on Friday, July 28th. FBN Securities reissued an “outperform” rating and issued a $210.00 price objective (up previously from $175.00) on shares of Facebook in a report on Sunday, July 30th. Morgan Stanley set a $190.00 price objective on shares of Facebook and gave the company a “buy” rating in a report on Monday, July 31st. Atlantic Securities set a $200.00 price objective on shares of Facebook and gave the company a “buy” rating in a report on Monday, July 31st. Finally, Pivotal Research downgraded shares of Facebook from a “hold” rating to a “sell” rating and cut their price objective for the company from $172.45 to $140.00 in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, forty-two have given a buy rating and three have issued a strong buy rating to the stock. Facebook currently has a consensus rating of “Buy” and an average target price of $182.00.

In other news, insider Michael Todd Schroepfer sold 37,963 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $171.98, for a total value of $6,528,876.74. Following the completion of the sale, the insider now directly owns 882,427 shares in the company, valued at $151,759,795.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher K. Cox sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $169.95, for a total value of $2,719,200.00. Following the completion of the sale, the insider now owns 180,871 shares of the company’s stock, valued at $30,739,026.45. The disclosure for this sale can be found here. Insiders have sold 10,221,076 shares of company stock valued at $1,613,683,519 in the last ninety days. Corporate insiders own 19.08% of the company’s stock.

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.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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