Facebook, Inc. (NASDAQ:FB) is Kingstown Capital Management L.P.’s Largest Position

Kingstown Capital Management L.P. boosted its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 20.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,000 shares of the social networking company’s stock after acquiring an additional 5,000 shares during the period. Facebook accounts for about 3.0% of Kingstown Capital Management L.P.’s investment portfolio, making the stock its largest holding. Kingstown Capital Management L.P.’s holdings in Facebook were worth $8,836,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FB. Proem Advisors LLC purchased a new position in Facebook in the fourth quarter worth about $9,287,000. Bessemer Securities LLC raised its holdings in Facebook by 30.4% in the first quarter. Bessemer Securities LLC now owns 12,916 shares of the social networking company’s stock worth $3,804,000 after buying an additional 3,010 shares during the last quarter. One Capital Management LLC raised its holdings in Facebook by 4.2% in the first quarter. One Capital Management LLC now owns 27,200 shares of the social networking company’s stock worth $8,011,000 after buying an additional 1,089 shares during the last quarter. Shaker Investments LLC OH raised its holdings in Facebook by 70.3% in the first quarter. Shaker Investments LLC OH now owns 11,186 shares of the social networking company’s stock worth $3,295,000 after buying an additional 4,616 shares during the last quarter. Finally, X Square Capital LLC raised its holdings in shares of Facebook by 3.9% during the first quarter. X Square Capital LLC now owns 16,810 shares of the social networking company’s stock valued at $4,951,000 after purchasing an additional 634 shares during the last quarter. 65.41% of the stock is owned by institutional investors.

In other Facebook news, CEO Mark Zuckerberg sold 68,000 shares of the stock in a transaction dated Friday, April 23rd. The shares were sold at an average price of $300.03, for a total transaction of $20,402,040.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jennifer Newstead sold 250 shares of the stock in a transaction dated Thursday, May 20th. The stock was sold at an average price of $313.36, for a total transaction of $78,340.00. Following the transaction, the vice president now owns 9,890 shares in the company, valued at $3,099,130.40. The disclosure for this sale can be found here. In the last three months, insiders sold 2,460,920 shares of company stock worth $814,534,268. Insiders own 14.01% of the company’s stock.

FB has been the subject of several research reports. Wedbush boosted their price objective on shares of Facebook from $340.00 to $355.00 and gave the company a “neutral” rating in a report on Thursday, April 29th. MKM Partners boosted their price objective on shares of Facebook from $340.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, April 29th. Credit Suisse Group set a $400.00 price objective on shares of Facebook and gave the company a “buy” rating in a report on Thursday, April 29th. Rosenblatt Securities boosted their target price on shares of Facebook from $325.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 29th. Finally, Barclays boosted their target price on shares of Facebook from $350.00 to $410.00 and gave the company an “overweight” rating in a research report on Thursday, April 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Facebook presently has an average rating of “Buy” and a consensus price target of $376.58.

Shares of FB traded up $2.95 during midday trading on Thursday, hitting $349.18. The stock had a trading volume of 343,410 shares, compared to its average volume of 13,889,378. Facebook, Inc. has a 1 year low of $226.90 and a 1 year high of $358.79. The stock has a market capitalization of $990.09 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 1.29 and a beta of 1.29. The company’s 50 day moving average is $335.86.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, April 28th. The social networking company reported $3.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.94. Facebook had a net margin of 35.74% and a return on equity of 27.54%. The business had revenue of $26.20 billion for the quarter, compared to the consensus estimate of $23.61 billion. During the same quarter in the prior year, the firm posted $1.71 earnings per share. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. On average, analysts expect that Facebook, Inc. will post 13.19 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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