Facebook, Inc. (FB) Shares Bought by Lau Associates LLC
Lau Associates LLC lifted its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 5.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,950 shares of the social networking company’s stock after acquiring an additional 500 shares during the quarter. Facebook accounts for about 1.2% of Lau Associates LLC’s holdings, making the stock its 25th largest position. Lau Associates LLC’s holdings in Facebook were worth $1,502,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Bank of Montreal Can increased its position in Facebook by 20.5% in the first quarter. Bank of Montreal Can now owns 2,219,970 shares of the social networking company’s stock worth $315,345,000 after buying an additional 377,731 shares during the last quarter. Regentatlantic Capital LLC increased its position in Facebook by 0.5% in the first quarter. Regentatlantic Capital LLC now owns 7,842 shares of the social networking company’s stock worth $1,114,000 after buying an additional 38 shares during the last quarter. CrestPoint Capital Management LLC increased its position in Facebook by 31.8% in the first quarter. CrestPoint Capital Management LLC now owns 25,300 shares of the social networking company’s stock worth $3,594,000 after buying an additional 6,100 shares during the last quarter. Stillwater Capital Advisors LLC purchased a new stake in Facebook in the first quarter worth $230,000. Finally, Adirondack Trust Co. increased its position in Facebook by 7.1% in the first quarter. Adirondack Trust Co. now owns 7,298 shares of the social networking company’s stock worth $1,037,000 after buying an additional 485 shares during the last quarter. 57.30% of the stock is owned by institutional investors.
FB has been the subject of a number of recent research reports. Canaccord Genuity reissued a “buy” rating and issued a $175.00 target price on shares of Facebook in a research report on Friday, June 16th. Vetr downgraded Facebook from a “buy” rating to a “hold” rating and set a $156.06 target price for the company. in a research report on Thursday, May 25th. Cantor Fitzgerald set a $180.00 target price on Facebook and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Robert W. Baird reissued a “buy” rating and issued a $185.00 target price on shares of Facebook in a research report on Friday, September 1st. Finally, Moffett Nathanson reissued a “buy” rating on shares of Facebook in a research report on Friday, June 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have given a buy rating and three have given a strong buy rating to the stock. Facebook currently has an average rating of “Buy” and a consensus target price of $183.74.
In related news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $149.00, for a total transaction of $111,750.00. Following the completion of the transaction, the vice president now owns 86,156 shares of the company’s stock, valued at $12,837,244. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $152.35, for a total transaction of $2,437,600.00. Following the completion of the transaction, the insider now directly owns 194,765 shares of the company’s stock, valued at approximately $29,672,447.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,109,908 shares of company stock valued at $2,140,922,321. 19.08% of the stock is currently owned by corporate insiders.
Facebook, Inc. (FB) traded up 0.47% during midday trading on Friday, hitting $171.76. The stock had a trading volume of 9,957,061 shares. Facebook, Inc. has a 52-week low of $113.55 and a 52-week high of $175.49. The firm has a 50-day moving average of $170.07 and a 200 day moving average of $153.55. The firm has a market capitalization of $498.82 billion, a P/E ratio of 38.44 and a beta of 0.76.
Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $9.19 billion. During the same quarter last year, the company posted $0.97 earnings per share. The firm’s 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 year.
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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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