Meru Capital Group LP Raises Position in Facebook Inc (FB)

Meru Capital Group LP increased its position in shares of Facebook Inc (NASDAQ:FB) by 49.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,673 shares of the social networking company’s stock after buying an additional 70,972 shares during the period. Facebook accounts for approximately 6.9% of Meru Capital Group LP’s investment portfolio, making the stock its 3rd largest position. Meru Capital Group LP’s holdings in Facebook were worth $24,698,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. PacWest Financial Management Inc raised its position in shares of Facebook by 1.3% in the third quarter. PacWest Financial Management Inc now owns 10,440 shares of the social networking company’s stock worth $1,339,000 after buying an additional 130 shares during the period. Oregon Public Employees Retirement Fund raised its position in Facebook by 41.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 501,732 shares of the social networking company’s stock valued at $64,357,000 after buying an additional 147,840 shares during the last quarter. Gofen & Glossberg LLC IL raised its position in Facebook by 2.4% in the third quarter. Gofen & Glossberg LLC IL now owns 140,175 shares of the social networking company’s stock valued at $17,980,000 after buying an additional 3,264 shares during the last quarter. Dorsey Wright & Associates raised its position in Facebook by 5.0% in the third quarter. Dorsey Wright & Associates now owns 48,041 shares of the social networking company’s stock valued at $6,162,000 after buying an additional 2,275 shares during the last quarter. Finally, E&G Advisors LP raised its position in Facebook by 0.9% in the third quarter. E&G Advisors LP now owns 10,924 shares of the social networking company’s stock valued at $1,401,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 57.00% of the company’s stock.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Shares of Facebook Inc (NASDAQ:FB) traded down 0.08% during trading on Friday, reaching $143.68. 481,078 shares of the company’s stock traded hands. Facebook Inc has a one year low of $106.31 and a one year high of $144.25. The company has a 50 day moving average price of $140.15 and a 200-day moving average price of $129.41. The stock has a market cap of $415.23 billion, a P/E ratio of 41.13 and a beta of 0.68. Facebook also saw some unusual options trading on Tuesday. Stock investors acquired 78,065 put options on the company. This represents an increase of approximately 109% compared to the typical volume of 37,299 put options.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, February 1st. The social networking company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.10. Facebook had a return on equity of 19.05% and a net margin of 34.33%. The company earned $8.81 billion during the quarter, compared to analysts’ expectations of $8.47 billion. During the same quarter in the previous year, the business earned $0.79 earnings per share. The firm’s revenue for the quarter was up 50.8% on a year-over-year basis. On average, equities research analysts expect that Facebook Inc will post $5.44 EPS for the current fiscal year.

WARNING: “Meru Capital Group LP Raises Position in Facebook Inc (FB)” was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another site, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The original version of this piece can be read at https://www.com-unik.info/2017/04/21/meru-capital-group-lp-acquires-70972-shares-of-facebook-inc-fb-updated-updated.html.

Several research firms recently issued reports on FB. Robert W. Baird restated an “outperform” rating and issued a $163.00 target price on shares of Facebook in a report on Wednesday. Jefferies Group LLC restated a “buy” rating and issued a $175.00 target price on shares of Facebook in a report on Wednesday. Vetr lowered shares of Facebook from a “buy” rating to a “hold” rating and set a $147.81 target price on the stock. in a report on Wednesday. Aegis restated a “buy” rating on shares of Facebook in a report on Sunday, April 2nd. Finally, Barclays PLC started coverage on shares of Facebook in a report on Tuesday, March 28th. They issued an “overweight” rating and a $154.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. Facebook currently has an average rating of “Buy” and an average price target of $157.91.

In related news, insider Christopher K. Cox sold 16,000 shares of the company’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $132.49, for a total transaction of $2,119,840.00. Following the transaction, the insider now owns 153,938 shares of the company’s stock, valued at $20,395,245.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $130.28, for a total value of $97,710.00. Following the transaction, the vice president now directly owns 75,459 shares in the company, valued at approximately $9,830,798.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,012,117 shares of company stock valued at $838,152,309. 19.08% of the stock is owned by company insiders.

Facebook Company Profile

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

5 Day Chart for NASDAQ:FB

What are top analysts saying about Facebook Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Facebook Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit