Whale Rock Capital Management LLC Has $128.08 Million Stake in Facebook Inc (FB)
Whale Rock Capital Management LLC grew its holdings in Facebook Inc (NASDAQ:FB) by 44.7% during the 3rd quarter, Holdings Channel reports. The firm owned 749,598 shares of the social networking company’s stock after purchasing an additional 231,383 shares during the quarter. Facebook comprises approximately 6.7% of Whale Rock Capital Management LLC’s holdings, making the stock its 4th largest position. Whale Rock Capital Management LLC’s holdings in Facebook were worth $128,084,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Beach Investment Management LLC. grew its position in Facebook by 999.7% during the 2nd quarter. Beach Investment Management LLC. now owns 121,630 shares of the social networking company’s stock worth $18,364,000 after acquiring an additional 110,570 shares during the last quarter. Donaldson Capital Management LLC bought a new stake in Facebook during the 2nd quarter worth $223,000. Obermeyer Wood Investment Counsel Lllp bought a new stake in Facebook during the 2nd quarter worth $201,000. Dupont Capital Management Corp grew its position in Facebook by 13.3% during the 2nd quarter. Dupont Capital Management Corp now owns 308,743 shares of the social networking company’s stock worth $46,614,000 after acquiring an additional 36,216 shares during the last quarter. Finally, Wrapmanager Inc. grew its position in Facebook by 6.4% during the 2nd quarter. Wrapmanager Inc. now owns 6,821 shares of the social networking company’s stock worth $1,030,000 after acquiring an additional 409 shares during the last quarter. Institutional investors own 57.32% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Pivotal Research restated a “sell” rating and set a $152.00 price objective on shares of Facebook in a research report on Monday, February 12th. Vetr upgraded Facebook from a “buy” rating to a “strong-buy” rating and set a $210.11 price objective on the stock in a research report on Monday, February 5th. Argus boosted their price objective on Facebook from $215.00 to $237.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Mizuho boosted their price objective on Facebook from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Goldman Sachs Group set a $225.00 price objective on Facebook and gave the stock a “buy” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, forty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. Facebook currently has a consensus rating of “Buy” and an average target price of $214.70.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, January 31st. The social networking company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.24. The firm had revenue of $12.97 billion during the quarter, compared to analyst estimates of $12.58 billion. Facebook had a return on equity of 26.49% and a net margin of 39.16%. equities research analysts predict that Facebook Inc will post 7.28 EPS for the current year.
In other Facebook news, insider Michael Todd Schroepfer sold 38,017 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $187.83, for a total transaction of $7,140,733.11. Following the completion of the sale, the insider now directly owns 381,521 shares of the company’s stock, valued at approximately $71,661,089.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $171.60, for a total value of $128,700.00. Following the sale, the vice president now directly owns 84,246 shares of the company’s stock, valued at $14,456,613.60. The disclosure for this sale can be found here. Insiders have sold a total of 3,468,702 shares of company stock valued at $618,046,701 over the last three months. Corporate insiders own 17.23% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This article was originally reported by Daily Political and is the sole property of of Daily Political. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://www.dailypolitical.com/2018/03/03/whale-rock-capital-management-llc-has-128-08-million-stake-in-facebook-inc-fb.html.
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.
Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook Inc (NASDAQ:FB).
Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.