Facebook, Inc. (NASDAQ:FB) Shares Bought by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ increased its holdings in Facebook, Inc. (NASDAQ:FB) by 18.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,174 shares of the social networking company’s stock after buying an additional 500 shares during the quarter. Facebook comprises approximately 1.3% of Groesbeck Investment Management Corp NJ’s investment portfolio, making the stock its 25th largest holding. Groesbeck Investment Management Corp NJ’s holdings in Facebook were worth $935,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FB. RBA Wealth Management LLC acquired a new stake in shares of Facebook during the 1st quarter worth approximately $25,000. Flagship Private Wealth LLC acquired a new stake in shares of Facebook during the 4th quarter worth approximately $25,000. DB Wealth Management Group LLC acquired a new stake in shares of Facebook during the 4th quarter worth approximately $27,000. Klaas Financial Asset Advisors LLC acquired a new stake in shares of Facebook during the 4th quarter worth approximately $27,000. Finally, Litman Gregory Asset Management LLC acquired a new stake in shares of Facebook during the 4th quarter worth approximately $27,000. Institutional investors own 64.95% of the company’s stock.

In other news, CAO Susan J.S. Taylor sold 2,707 shares of the business’s stock in a transaction dated Thursday, February 18th. The stock was sold at an average price of $269.47, for a total transaction of $729,455.29. Following the completion of the transaction, the chief accounting officer now directly owns 3,147 shares of the company’s stock, valued at $848,022.09. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David M. Wehner sold 16,000 shares of the business’s stock in a transaction dated Thursday, April 29th. The stock was sold at an average price of $330.10, for a total value of $5,281,600.00. Following the transaction, the chief financial officer now directly owns 18,425 shares of the company’s stock, valued at $6,082,092.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,840,372 shares of company stock valued at $543,294,071. 14.14% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently commented on the stock. Oppenheimer raised their price objective on shares of Facebook from $350.00 to $375.00 and gave the stock an “outperform” rating in a research note on Thursday, April 29th. Rosenblatt Securities increased their target price on Facebook from $325.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, May 5th. MKM Partners increased their target price on Facebook from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, May 5th. UBS Group reiterated a “buy” rating and set a $380.00 target price on shares of Facebook in a research report on Thursday, April 29th. Finally, Cowen increased their target price on Facebook from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, April 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $366.87.

Shares of NASDAQ:FB opened at $315.94 on Friday. The business has a 50-day moving average price of $306.06 and a 200 day moving average price of $279.80. The company has a market capitalization of $895.84 billion, a price-to-earnings ratio of 35.98, a PEG ratio of 1.29 and a beta of 1.18. Facebook, Inc. has a 12-month low of $204.12 and a 12-month high of $331.81.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, April 28th. The social networking company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.94. The firm had revenue of $26.20 billion during the quarter, compared to the consensus estimate of $23.61 billion. Facebook had a return on equity of 23.27% and a net margin of 32.00%. The company’s quarterly revenue was up 47.7% on a year-over-year basis. During the same period last year, the company earned $1.71 EPS. On average, sell-side analysts expect that Facebook, Inc. will post 9.39 EPS for the current year.

About Facebook

Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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