Black Diamond Financial LLC Trims Stock Position in Facebook, Inc. (NASDAQ:FB)

Black Diamond Financial LLC lowered its stake in shares of Facebook, Inc. (NASDAQ:FB) by 69.1% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 3,495 shares of the social networking company’s stock after selling 7,834 shares during the period. Black Diamond Financial LLC’s holdings in Facebook were worth $794,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Strategic Wealth Management Group LLC grew its position in shares of Facebook by 0.5% during the 2nd quarter. Strategic Wealth Management Group LLC now owns 9,152 shares of the social networking company’s stock valued at $2,078,000 after acquiring an additional 43 shares during the period. Genesee Capital Advisors LLC grew its position in shares of Facebook by 1.6% during the 2nd quarter. Genesee Capital Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $632,000 after acquiring an additional 44 shares during the period. Parisi Gray Wealth Management grew its position in shares of Facebook by 0.5% during the 2nd quarter. Parisi Gray Wealth Management now owns 9,175 shares of the social networking company’s stock valued at $2,087,000 after acquiring an additional 44 shares during the period. Retirement Network boosted its holdings in Facebook by 1.4% in the 1st quarter. Retirement Network now owns 3,519 shares of the social networking company’s stock worth $587,000 after buying an additional 48 shares during the last quarter. Finally, Sun Life Financial INC boosted its holdings in Facebook by 3.4% in the 1st quarter. Sun Life Financial INC now owns 1,465 shares of the social networking company’s stock worth $244,000 after buying an additional 48 shares during the last quarter. Institutional investors and hedge funds own 65.12% of the company’s stock.

Shares of NASDAQ FB opened at $253.67 on Friday. The firm has a market cap of $668.11 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 1.68 and a beta of 1.19. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.09. Facebook, Inc. has a 52-week low of $137.10 and a 52-week high of $255.85. The business’s 50 day moving average is $235.27 and its two-hundred day moving average is $207.59.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.36. The business had revenue of $18.69 billion during the quarter, compared to the consensus estimate of $17.29 billion. Facebook had a net margin of 31.29% and a return on equity of 23.49%. Analysts anticipate that Facebook, Inc. will post 7.36 EPS for the current fiscal year.

Several research firms recently issued reports on FB. Rosenblatt Securities lifted their price objective on Facebook from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Friday. Needham & Company LLC began coverage on Facebook in a report on Thursday, July 2nd. They issued a “hold” rating on the stock. Jefferies Financial Group lifted their price objective on Facebook from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley lifted their price objective on Facebook from $270.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday. Finally, MKM Partners lifted their price objective on Facebook from $240.00 to $290.00 in a report on Wednesday, July 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $273.37.

In other Facebook news, VP Jennifer Newstead sold 194 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $234.76, for a total value of $45,543.44. Following the completion of the transaction, the vice president now owns 1,918 shares in the company, valued at $450,269.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David M. Wehner sold 8,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $209.90, for a total transaction of $1,679,200.00. Following the completion of the transaction, the chief financial officer now owns 24,484 shares of the company’s stock, valued at approximately $5,139,191.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,591 shares of company stock valued at $14,894,825. Insiders own 14.14% of the company’s stock.

Facebook Company Profile

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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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