Lynch & Associates IN Reduces Position in Facebook, Inc. (NASDAQ:FB)


Share on StockTwits

Lynch & Associates IN lessened its stake in shares of Facebook, Inc. (NASDAQ:FB) by 2.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,068 shares of the social networking company’s stock after selling 45 shares during the period. Lynch & Associates IN’s holdings in Facebook were worth $609,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Flagship Private Wealth LLC acquired a new stake in Facebook during the 4th quarter valued at approximately $25,000. DB Wealth Management Group LLC acquired a new stake in Facebook during the 4th quarter valued at approximately $27,000. Klaas Financial Asset Advisors LLC acquired a new stake in Facebook during the 4th quarter valued at approximately $27,000. Litman Gregory Asset Management LLC acquired a new stake in Facebook during the 4th quarter valued at approximately $27,000. Finally, ADE LLC acquired a new stake in Facebook during the 4th quarter valued at approximately $27,000. 64.95% of the stock is currently owned by institutional investors.

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Facebook from $355.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, March 29th. MKM Partners boosted their target price on shares of Facebook from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, January 28th. Truist boosted their target price on shares of Facebook from $320.00 to $333.00 in a research note on Thursday, January 28th. Piper Sandler boosted their target price on shares of Facebook from $275.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, January 28th. Finally, Bank of America reiterated a “buy” rating and issued a $345.00 target price on shares of Facebook in a research note on Friday, January 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $327.15.

In other news, CEO Mark Zuckerberg sold 68,000 shares of the stock in a transaction dated Wednesday, April 7th. The shares were sold at an average price of $310.73, for a total transaction of $21,129,640.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Susan J.S. Taylor sold 3,147 shares of the stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $300.00, for a total transaction of $944,100.00. The disclosure for this sale can be found here. Insiders sold 1,391,344 shares of company stock worth $378,713,801 in the last ninety days. 14.14% of the stock is currently owned by corporate insiders.

NASDAQ FB opened at $312.46 on Friday. The firm’s 50-day moving average is $277.13 and its two-hundred day moving average is $271.91. Facebook, Inc. has a 12 month low of $168.34 and a 12 month high of $315.88. The stock has a market capitalization of $889.78 billion, a P/E ratio of 35.59, a PEG ratio of 1.29 and a beta of 1.18.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, January 27th. The social networking company reported $3.88 EPS for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.64. Facebook had a net margin of 32.00% and a return on equity of 23.27%. The company had revenue of $28.10 million for the quarter, compared to analysts’ expectations of $26.43 billion. During the same quarter in the prior year, the company posted $2.56 earnings per share. Facebook’s revenue for the quarter was up 33.2% compared to the same quarter last year. On average, equities research analysts anticipate that Facebook, Inc. will post 9.39 EPS for the current fiscal year.

Facebook Profile

Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.

Further Reading: How are the companies in the S&P 500 selected?

Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.