Eagle Asset Management Inc. Has $8.08 Million Position in Facebook Inc (FB)
Eagle Asset Management Inc. increased its position in shares of Facebook Inc (NASDAQ:FB) by 0.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,536 shares of the social networking company’s stock after purchasing an additional 19 shares during the period. Eagle Asset Management Inc.’s holdings in Facebook were worth $8,082,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of FB. Bronfman E.L. Rothschild L.P. raised its stake in Facebook by 19.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 17,530 shares of the social networking company’s stock valued at $2,647,000 after buying an additional 2,908 shares during the last quarter. Monetta Financial Services Inc. raised its stake in shares of Facebook by 78.9% in the second quarter. Monetta Financial Services Inc. now owns 34,000 shares of the social networking company’s stock worth $5,133,000 after purchasing an additional 15,000 shares during the last quarter. Zevin Asset Management LLC grew its holdings in shares of Facebook by 8.2% in the second quarter. Zevin Asset Management LLC now owns 3,303 shares of the social networking company’s stock worth $499,000 after acquiring an additional 250 shares during the period. Wesbanco Bank Inc. grew its holdings in shares of Facebook by 4.6% in the second quarter. Wesbanco Bank Inc. now owns 76,398 shares of the social networking company’s stock worth $11,535,000 after acquiring an additional 3,379 shares during the period. Finally, Cornerstone Advisory LLP grew its holdings in shares of Facebook by 423.6% in the second quarter. Cornerstone Advisory LLP now owns 10,865 shares of the social networking company’s stock worth $1,640,000 after acquiring an additional 8,790 shares during the period. Hedge funds and other institutional investors own 58.17% of the company’s stock.
In related news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $171.59, for a total transaction of $128,692.50. Following the transaction, the vice president now directly owns 94,841 shares of the company’s stock, valued at $16,273,767.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David B. Fischer sold 16,621 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $183.51, for a total transaction of $3,050,119.71. The disclosure for this sale can be found here. In the last three months, insiders sold 5,195,772 shares of company stock worth $924,706,968. 17.23% of the stock is owned by corporate insiders.
Several analysts have issued reports on FB shares. Cowen reissued an “average” rating and set a $200.00 price target (up previously from $195.00) on shares of Facebook in a report on Wednesday, September 27th. Zacks Investment Research upgraded Facebook from a “hold” rating to a “buy” rating and set a $191.00 target price on the stock in a research report on Tuesday, September 26th. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $180.74 price objective on the stock in a research report on Monday, September 25th. Mizuho restated a “buy” rating and set a $230.00 price objective on shares of Facebook in a research report on Wednesday, September 20th. Finally, Robert W. Baird restated a “buy” rating and set a $185.00 price objective on shares of Facebook in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-two have given a buy rating and three have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $198.31.
Shares of Facebook Inc (FB) opened at $177.18 on Friday. Facebook Inc has a 12-month low of $114.00 and a 12-month high of $184.25. The company has a market capitalization of $530,077.50, a PE ratio of 35.15, a PEG ratio of 1.16 and a beta of 0.67.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.31. The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $9.84 billion. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 EPS. research analysts forecast that Facebook Inc will post 5.86 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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