Facebook, Inc. (FB) Shares Sold by OLD National Bancorp IN
OLD National Bancorp IN reduced its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,880 shares of the social networking company’s stock after selling 2,989 shares during the quarter. Facebook accounts for about 0.9% of OLD National Bancorp IN’s investment portfolio, making the stock its 23rd largest holding. OLD National Bancorp IN’s holdings in Facebook were worth $17,271,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Cribstone Capital Management LLC lifted its stake in Facebook by 186.2% during the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock worth $121,000 after purchasing an additional 406 shares during the last quarter. Trust Department MB Financial Bank N A bought a new position in Facebook during the second quarter worth $134,000. Wagner Wealth Management LLC bought a new position in Facebook during the fourth quarter worth $183,000. Northwest Wealth Management LLC bought a new position in Facebook during the second quarter worth $194,000. Finally, GenWealth Group Inc. bought a new position in Facebook during the second quarter worth $200,000. Institutional investors own 60.43% of the company’s stock.
NASDAQ:FB opened at $153.74 on Friday. The stock has a market cap of $477.76 billion, a P/E ratio of 24.96, a PEG ratio of 1.05 and a beta of 0.42. Facebook, Inc. has a 52-week low of $149.02 and a 52-week high of $218.62.
In related news, CEO Mark Zuckerberg sold 240,000 shares of the stock in a transaction on Wednesday, July 25th. The stock was sold at an average price of $216.71, for a total value of $52,010,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Colin Stretch sold 750 shares of the stock in a transaction on Wednesday, October 10th. The shares were sold at an average price of $157.12, for a total value of $117,840.00. Following the completion of the transaction, the vice president now owns 93,144 shares of the company’s stock, valued at approximately $14,634,785.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,052,146 shares of company stock worth $1,136,174,749. 16.25% of the stock is owned by corporate insiders.
FB has been the topic of a number of recent research reports. Raymond James cut Facebook from a “strong-buy” rating to an “outperform” rating and set a $210.00 target price on the stock. in a research note on Thursday, July 26th. Royal Bank of Canada reissued a “buy” rating and set a $195.00 price target on shares of Facebook in a report on Monday, September 3rd. Stifel Nicolaus reissued a “buy” rating and set a $202.00 price target on shares of Facebook in a report on Thursday, August 23rd. JPMorgan Chase & Co. raised their price target on Facebook from $195.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, September 18th. Finally, MKM Partners lowered their price target on Facebook to $230.00 and set a “buy” rating on the stock in a report on Thursday, August 2nd. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $205.00.
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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