Xact Kapitalforvaltning AB Decreases Holdings in Facebook, Inc. (FB)
Xact Kapitalforvaltning AB reduced its position in shares of Facebook, Inc. (NASDAQ:FB) by 0.3% during the 2nd quarter, Holdings Channel reports. The firm owned 469,852 shares of the social networking company’s stock after selling 1,357 shares during the quarter. Facebook accounts for 1.9% of Xact Kapitalforvaltning AB’s holdings, making the stock its 4th largest holding. Xact Kapitalforvaltning AB’s holdings in Facebook were worth $91,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in the business. Santori & Peters Inc. acquired a new stake in shares of Facebook in the fourth quarter worth approximately $116,000. Risk Paradigm Group LLC raised its holdings in Facebook by 81.4% in the fourth quarter. Risk Paradigm Group LLC now owns 655 shares of the social networking company’s stock valued at $116,000 after buying an additional 294 shares during the period. Wagner Wealth Management LLC purchased a new position in Facebook in the fourth quarter valued at approximately $183,000. Northwest Wealth Management LLC purchased a new position in Facebook in the second quarter valued at approximately $194,000. Finally, BHK Investment Advisors LLC purchased a new position in Facebook in the first quarter valued at approximately $202,000. 60.40% of the stock is currently owned by institutional investors.
In other news, insider Christopher K. Cox sold 10,600 shares of the business’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $194.13, for a total transaction of $2,057,778.00. Following the completion of the transaction, the insider now owns 123,482 shares of the company’s stock, valued at $23,971,560.66. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David M. Wehner sold 10,000 shares of Facebook stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $199.90, for a total transaction of $1,999,000.00. Following the sale, the chief financial officer now owns 67,279 shares in the company, valued at $13,449,072.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,629,413 shares of company stock valued at $1,857,165,307. Corporate insiders own 16.25% of the company’s stock.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, July 25th. The social networking company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.01). Facebook had a net margin of 39.31% and a return on equity of 28.16%. The firm had revenue of $13.23 billion for the quarter, compared to analyst estimates of $13.35 billion. During the same period last year, the firm posted $1.32 EPS. The business’s revenue was up 41.9% compared to the same quarter last year. sell-side analysts expect that Facebook, Inc. will post 7.08 EPS for the current year.
FB has been the subject of a number of research analyst reports. Citigroup lowered shares of Facebook to a “buy” rating and dropped their price target for the stock from $220.00 to $210.00 in a research note on Thursday, July 26th. They noted that the move was a valuation call. Credit Suisse Group set a $265.00 price target on shares of Facebook and gave the stock a “buy” rating in a research note on Monday, July 16th. Goldman Sachs Group restated a “buy” rating and issued a $225.00 price target on shares of Facebook in a research note on Monday, July 23rd. Pivotal Research restated a “sell” rating and issued a $138.00 price target on shares of Facebook in a research note on Friday, June 29th. Finally, BidaskClub upgraded shares of Facebook from a “hold” rating to a “buy” rating in a research note on Tuesday, July 17th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $206.89.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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