Pacer Advisors Inc. grew its position in Facebook, Inc. (NASDAQ:FB) by 127.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 347,887 shares of the social networking company’s stock after purchasing an additional 194,732 shares during the period. Facebook makes up approximately 1.6% of Pacer Advisors Inc.’s holdings, making the stock its 8th biggest position. Pacer Advisors Inc.’s holdings in Facebook were worth $78,995,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Watson Rebecca bought a new position in shares of Facebook in the second quarter valued at approximately $25,000. JJJ Advisors Inc. boosted its holdings in shares of Facebook by 262.5% in the second quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 105 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Facebook in the first quarter valued at approximately $41,000. Elmwood Wealth Management Inc. acquired a new stake in Facebook during the first quarter valued at approximately $46,000. Finally, NuWave Investment Management LLC lifted its stake in 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 purchasing an additional 265 shares during the last quarter. Institutional investors and hedge funds own 65.12% of the company’s stock.
In related news, CFO David M. Wehner sold 8,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $209.90, for a total value of $1,679,200.00. Following the transaction, the chief financial officer now directly owns 24,484 shares in the company, valued at approximately $5,139,191.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer Newstead sold 194 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $207.43, for a total transaction of $40,241.42. Following the completion of the transaction, the vice president now owns 406 shares in the company, valued at $84,216.58. 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 currently owned by company insiders.
Shares of FB opened at $253.67 on Friday. The company’s fifty day moving average is $235.27 and its 200-day moving average is $207.59. Facebook, Inc. has a 12 month low of $137.10 and a 12 month high of $255.85. The firm has a market cap of $668.11 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth 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 (NASDAQ:FB) last announced 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. Facebook had a net margin of 31.29% and a return on equity of 23.49%. The company had revenue of $18.69 billion for the quarter, compared to analyst estimates of $17.29 billion. As a group, research analysts predict that Facebook, Inc. will post 7.36 earnings per share for the current fiscal year.
Several analysts recently commented on the stock. Mizuho increased their target price on shares of Facebook from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday. MKM Partners increased their target price on shares of Facebook from $240.00 to $290.00 in a research note on Wednesday, July 15th. Barclays increased their target price on shares of Facebook from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group set a $242.00 target price on shares of Facebook and gave the company a “buy” rating in a research note on Friday. Finally, Guggenheim upped their price target on shares of Facebook from $235.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the stock. Facebook presently has an average rating of “Buy” and a consensus price target of $273.37.
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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