Select Equity Group L.P. Grows Stock Holdings in Facebook, Inc. (NASDAQ:FB)

Select Equity Group L.P. raised its position in Facebook, Inc. (NASDAQ:FB) by 840.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,890 shares of the social networking company’s stock after acquiring an additional 32,072 shares during the quarter. Select Equity Group L.P.’s holdings in Facebook were worth $10,571,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FB. RBA Wealth Management LLC bought a new stake in shares of Facebook during the 1st quarter valued at about $25,000. ADE LLC bought a new stake in Facebook during the fourth quarter worth about $27,000. TFO TDC LLC bought a new stake in Facebook during the first quarter worth about $29,000. Baron Financial Group LLC boosted its stake in Facebook by 71.4% during the first quarter. Baron Financial Group LLC now owns 120 shares of the social networking company’s stock worth $35,000 after acquiring an additional 50 shares in the last quarter. Finally, Albion Financial Group UT bought a new stake in Facebook during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 65.41% of the company’s stock.

Shares of FB traded up $0.67 during midday trading on Thursday, hitting $346.90. The stock had a trading volume of 80,407 shares, compared to its average volume of 13,889,378. Facebook, Inc. has a 1 year low of $226.90 and a 1 year high of $358.79. The stock has a market capitalization of $983.62 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 1.29 and a beta of 1.29. The company’s 50 day moving average is $335.86.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, April 28th. The social networking company reported $3.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.94. Facebook had a net margin of 35.74% and a return on equity of 27.54%. The business had revenue of $26.20 billion for the quarter, compared to the consensus estimate of $23.61 billion. During the same quarter in the prior year, the firm posted $1.71 earnings per share. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. On average, analysts expect that Facebook, Inc. will post 13.19 EPS for the current year.

FB has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Facebook from a “buy” rating to a “hold” rating and set a $409.00 target price on the stock. in a research note on Tuesday, June 29th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $390.00 target price on shares of Facebook in a research note on Tuesday, June 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Facebook from $385.00 to $425.00 and gave the stock a “buy” rating in a research note on Thursday, April 29th. Mizuho upped their target price on shares of Facebook from $350.00 to $400.00 in a research note on Thursday, April 29th. Finally, reiterated a “neutral” rating and issued a $320.00 target price on shares of Facebook in a research note on Monday, May 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $376.58.

In related news, CEO Mark Zuckerberg sold 77,300 shares of the firm’s stock in a transaction dated Wednesday, July 21st. The shares were sold at an average price of $344.16, for a total value of $26,603,568.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Susan J.S. Taylor sold 2,167 shares of the firm’s stock in a transaction dated Wednesday, May 19th. The shares were sold at an average price of $303.83, for a total transaction of $658,399.61. Following the transaction, the chief accounting officer now directly owns 386 shares in the company, valued at approximately $117,278.38. The disclosure for this sale can be found here. Insiders sold a total of 2,460,920 shares of company stock worth $814,534,268 in the last ninety days. 14.01% of the stock is currently owned by insiders.

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.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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