Makena Capital Management LLC purchased a new position in shares of Facebook, Inc. (NASDAQ:FB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 14,331 shares of the social networking company’s stock, valued at approximately $2,941,000. Facebook makes up 2.6% of Makena Capital Management LLC’s investment portfolio, making the stock its 25th biggest position.
A number of other hedge funds have also modified their holdings of FB. State Street Corp boosted its stake in Facebook by 0.9% during the fourth quarter. State Street Corp now owns 94,316,951 shares of the social networking company’s stock worth $19,358,554,000 after buying an additional 881,118 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Facebook by 1.5% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,764,837 shares of the social networking company’s stock valued at $2,004,233,000 after buying an additional 142,716 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Facebook by 2.7% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 8,325,423 shares of the social networking company’s stock worth $1,482,591,000 after acquiring an additional 218,150 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Facebook by 8.9% in the 4th quarter. California Public Employees Retirement System now owns 5,685,217 shares of the social networking company’s stock worth $1,166,891,000 after acquiring an additional 466,805 shares during the last quarter. Finally, Veritas Asset Management LLP raised its holdings in shares of Facebook by 3.7% during the 3rd quarter. Veritas Asset Management LLP now owns 4,546,925 shares of the social networking company’s stock worth $809,716,000 after acquiring an additional 164,000 shares during the period. Institutional investors own 63.91% of the company’s stock.
FB opened at $213.14 on Friday. The stock’s 50-day moving average price is $213.29 and its 200 day moving average price is $195.87. Facebook, Inc. has a 12-month low of $159.28 and a 12-month high of $224.20. The firm has a market cap of $607.54 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 1.27 and a beta of 1.05. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 0.09.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, January 29th. The social networking company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.03. The company had revenue of $21.08 billion during the quarter, compared to the consensus estimate of $20.90 billion. Facebook had a return on equity of 19.97% and a net margin of 26.15%. Facebook’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.38 EPS. On average, research analysts forecast that Facebook, Inc. will post 9.28 earnings per share for the current year.
In other Facebook news, CAO Susan J.S. Taylor sold 1,133 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $198.58, for a total value of $224,991.14. Following the sale, the chief accounting officer now owns 1,505 shares of the company’s stock, valued at approximately $298,862.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer Newstead sold 260 shares of Facebook stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $197.40, for a total value of $51,324.00. Following the completion of the transaction, the vice president now owns 6,717 shares of the company’s stock, valued at approximately $1,325,935.80. The disclosure for this sale can be found here. In the last three months, insiders sold 80,531 shares of company stock valued at $16,696,656. Insiders own 14.53% of the company’s stock.
Several research analysts have recently weighed in on FB shares. Barclays set a $260.00 price target on shares of Facebook and gave the company a “buy” rating in a research report on Thursday, January 30th. Nomura raised their price objective on shares of Facebook from $235.00 to $253.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Sanford C. Bernstein reaffirmed a “buy” rating and set a $250.00 target price on shares of Facebook in a research note on Thursday, January 30th. Piper Jaffray Companies initiated coverage on shares of Facebook in a report on Tuesday, December 3rd. They issued an “overweight” rating and a $230.00 target price on the stock. Finally, Rosenblatt Securities boosted their target price on shares of Facebook from $244.00 to $263.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, forty-four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $245.48.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces 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 messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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