Malaga Cove Capital LLC lowered its position in Facebook, Inc. (NASDAQ:FB) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,880 shares of the social networking company’s stock after selling 105 shares during the quarter. Malaga Cove Capital LLC’s holdings in Facebook were worth $881,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Watson Rebecca bought a new position in shares of Facebook during the second quarter valued at about $25,000. JJJ Advisors Inc. grew its stake in shares of Facebook by 262.5% during the second quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock valued at $33,000 after buying an additional 105 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Facebook during the first quarter valued at about $41,000. Elmwood Wealth Management Inc. bought a new position in shares of Facebook during the first quarter valued at about $46,000. Finally, NuWave Investment Management LLC grew its stake in shares of Facebook by 1,019.2% during the first quarter. NuWave Investment Management LLC now owns 291 shares of the social networking company’s stock valued at $49,000 after buying an additional 265 shares during the last quarter. 65.12% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:FB opened at $253.67 on Friday. The company has a current ratio of 4.60, a quick ratio of 4.60 and a debt-to-equity ratio of 0.09. Facebook, Inc. has a 12 month low of $137.10 and a 12 month high of $255.85. The company has a market cap of $668.11 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The company has a 50 day simple moving average of $235.27 and a two-hundred day simple moving average of $207.59.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.36. The business had revenue of $18.69 billion for the quarter, compared to analysts’ expectations of $17.29 billion. Facebook had a net margin of 31.29% and a return on equity of 23.49%. Research analysts forecast that Facebook, Inc. will post 7.36 earnings per share for the current year.
FB has been the topic of a number of recent research reports. Barclays raised their price objective on Facebook from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday. Stifel Nicolaus raised their price objective on Facebook from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Cowen increased their target price on shares of Facebook from $215.00 to $245.00 in a report on Thursday, April 30th. Oppenheimer reiterated a “buy” rating and set a $270.00 target price (up from $240.00) on shares of Facebook in a report on Friday. Finally, Needham & Company LLC began coverage on shares of Facebook in a report on Thursday, July 2nd. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $273.37.
In other news, VP Jennifer Newstead sold 194 shares of the business’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $246.22, for a total value of $47,766.68. Following the sale, the vice president now directly owns 2,112 shares in the company, valued at approximately $520,016.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO David B. Fischer sold 22,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $205.29, for a total transaction of $4,516,380.00. Following the completion of the sale, the executive now owns 57,503 shares in the company, valued at $11,804,790.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,591 shares of company stock worth $14,894,825. 14.14% of the stock is owned by corporate insiders.
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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