Facebook, Inc. (NASDAQ:FB) Stake Decreased by Welch Capital Partners LLC NY

Welch Capital Partners LLC NY lowered its stake in shares of Facebook, Inc. (NASDAQ:FB) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,360 shares of the social networking company’s stock after selling 201 shares during the quarter. Facebook accounts for 2.3% of Welch Capital Partners LLC NY’s investment portfolio, making the stock its 10th biggest position. Welch Capital Partners LLC NY’s holdings in Facebook were worth $9,861,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Baldrige Asset Management LLC bought a new stake in Facebook in the 2nd quarter worth $31,000. Baron Financial Group LLC boosted its stake in shares of Facebook by 71.4% during the 1st quarter. Baron Financial Group LLC now owns 120 shares of the social networking company’s stock valued at $35,000 after purchasing an additional 50 shares in the last quarter. Paragon Wealth Strategies LLC bought a new stake in shares of Facebook during the 2nd quarter valued at about $46,000. Penserra Capital Management LLC boosted its stake in shares of Facebook by 275.0% during the 2nd quarter. Penserra Capital Management LLC now owns 135 shares of the social networking company’s stock valued at $46,000 after purchasing an additional 99 shares in the last quarter. Finally, Horan Securities Inc. boosted its stake in shares of Facebook by 309.1% during the 2nd quarter. Horan Securities Inc. now owns 135 shares of the social networking company’s stock valued at $47,000 after purchasing an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 65.72% of the company’s stock.

A number of brokerages have recently weighed in on FB. Piper Sandler reaffirmed a “neutral” rating and set a $385.00 target price (up previously from $335.00) on shares of Facebook in a research note on Thursday, July 29th. Argus boosted their price objective on shares of Facebook from $385.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, June 30th. Zacks Investment Research lowered shares of Facebook from a “buy” rating to a “hold” rating and set a $409.00 price objective on the stock. in a research note on Wednesday, September 29th. JPMorgan Chase & Co. set a $450.00 price objective on shares of Facebook in a research note on Thursday, July 29th. Finally, Oppenheimer boosted their price objective on shares of Facebook from $375.00 to $405.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Facebook currently has a consensus rating of “Buy” and an average price target of $406.31.

Facebook stock traded up $3.43 during mid-day trading on Thursday, reaching $327.97. 352,419 shares of the company’s stock traded hands, compared to its average volume of 22,509,820. Facebook, Inc. has a 12-month low of $244.61 and a 12-month high of $384.33. The company has a market cap of $924.70 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 1.02 and a beta of 1.32. The stock has a 50 day moving average of $358.25 and a two-hundred day moving average of $338.90.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 28th. The social networking company reported $3.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.03 by $0.58. Facebook had a net margin of 37.17% and a return on equity of 30.09%. The business had revenue of $29.08 billion for the quarter, compared to the consensus estimate of $27.93 billion. As a group, sell-side analysts forecast that Facebook, Inc. will post 14.11 earnings per share for the current year.

In other Facebook news, CEO Mark Zuckerberg sold 52,700 shares of the stock in a transaction dated Tuesday, October 12th. The shares were sold at an average price of $320.88, for a total transaction of $16,910,376.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 125 shares of the firm’s stock in a transaction dated Tuesday, October 5th. The shares were sold at an average price of $328.69, for a total transaction of $41,086.25. The disclosure for this sale can be found here. Insiders sold a total of 2,481,633 shares of company stock worth $890,771,287 in the last ninety days. 14.01% of the stock is currently owned by insiders.

Facebook Company Profile

Facebook, Inc operates as a social networking company worldwide. The company engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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