Flagship Harbor Advisors LLC Has $2.70 Million Stake in Facebook Inc (NASDAQ:FB)
Flagship Harbor Advisors LLC raised its position in Facebook Inc (NASDAQ:FB) by 18.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,034 shares of the social networking company’s stock after buying an additional 2,977 shares during the period. Facebook comprises 1.0% of Flagship Harbor Advisors LLC’s portfolio, making the stock its 16th largest position. Flagship Harbor Advisors LLC’s holdings in Facebook were worth $2,702,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also 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. bought a new stake in shares of Facebook during the first quarter worth about $121,000. Cable Hill Partners LLC raised its stake in shares of 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 during the period. Viking Fund Management LLC bought a new stake in shares of Facebook during the first quarter worth about $142,000. Finally, Tortoise Investment Management LLC raised its stake in shares of Facebook by 7.3% in the fourth quarter. Tortoise Investment Management LLC now owns 1,472 shares of the social networking company’s stock worth $169,000 after buying an additional 100 shares during the period. Institutional investors own 57.60% of the company’s stock.
Shares of Facebook Inc (NASDAQ:FB) traded up 0.41% on Friday, reaching $168.08. 13,791,153 shares of the company’s stock traded hands. The company’s 50-day moving average price is $161.50 and its 200 day moving average price is $147.44. The firm has a market cap of $488.14 billion, a P/E ratio of 37.62 and a beta of 0.70. Facebook Inc has a one year low of $113.55 and a one year high of $175.49.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.19. Facebook had a net margin of 41.78% and a return on equity of 24.25%. The firm had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the firm earned $0.97 EPS. The business’s quarterly revenue was up 44.8% compared to the same quarter last year. On average, equities analysts forecast that Facebook Inc will post $5.33 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on the company. Cowen and Company reaffirmed an “outperform” rating and set a $195.00 target price on shares of Facebook in a research report on Thursday. Zacks Investment Research lowered Facebook from a “buy” rating to a “hold” rating in a research report on Wednesday. Pivotal Research lowered Facebook from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. MKM Partners reaffirmed a “buy” rating and set a $200.00 target price (up from $180.00) on shares of Facebook in a research report on Monday, August 7th. Finally, Mizuho reaffirmed a “buy” rating on shares of Facebook in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, forty-two have given a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $182.00.
In other news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $150.10, for a total transaction of $112,575.00. Following the sale, the vice president now owns 86,761 shares in the company, valued at approximately $13,022,826.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 10,221,076 shares of company stock valued at $1,613,683,519. 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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