Facebook, Inc. (FB) Holdings Cut by Ahrens Investment Partners LLC
Ahrens Investment Partners LLC lowered its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 20.6% during the second quarter, HoldingsChannel.com reports. The firm owned 4,772 shares of the social networking company’s stock after selling 1,236 shares during the quarter. Ahrens Investment Partners LLC’s holdings in Facebook were worth $927,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cribstone Capital Management LLC raised its position in shares of 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 period. IMA Wealth Inc. acquired a new stake in shares of Facebook during the second quarter worth about $122,000. Trust Department MB Financial Bank N A acquired a new stake in shares of Facebook during the second quarter worth about $134,000. Northwest Wealth Management LLC acquired a new stake in shares of Facebook during the second quarter worth about $194,000. Finally, GenWealth Group Inc. acquired a new stake in shares of Facebook during the second quarter worth about $200,000. 58.42% of the stock is currently owned by institutional investors.
NASDAQ:FB opened at $137.42 on Friday. The company has a market cap of $400.69 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 0.87 and a beta of 0.57. Facebook, Inc. has a twelve month low of $126.85 and a twelve month high of $218.62.
In other news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $163.25, for a total transaction of $122,437.50. Following the completion of the transaction, the vice president now directly owns 96,144 shares in the company, valued at approximately $15,695,508. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Sheryl Sandberg sold 55,000 shares of Facebook stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $135.12, for a total value of $7,431,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 518,103 shares of company stock valued at $79,159,534 over the last quarter. 17.23% of the stock is currently owned by corporate insiders.
FB has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Facebook from $185.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, October 12th. ValuEngine raised Facebook from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. Aegis lifted their target price on Facebook from $206.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. Wells Fargo & Co dropped their target price on Facebook from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 31st. Finally, Deutsche Bank lifted their target price on Facebook from $192.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. Four analysts have rated the stock with a sell rating, nine have given a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $191.80.
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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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