Sumitomo Mitsui Asset Management Company LTD Raises Stake in Facebook, Inc. (NASDAQ:FB)

Sumitomo Mitsui Asset Management Company LTD increased its stake in Facebook, Inc. (NASDAQ:FB) by 12.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,110,070 shares of the social networking company’s stock after buying an additional 122,363 shares during the period. Facebook accounts for 2.7% of Sumitomo Mitsui Asset Management Company LTD’s holdings, making the stock its largest position. Sumitomo Mitsui Asset Management Company LTD’s holdings in Facebook were worth $157,685,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FB. Viking Global Investors LP increased its position in Facebook by 1.2% in the fourth quarter. Viking Global Investors LP now owns 18,978,163 shares of the social networking company’s stock valued at $2,183,438,000 after buying an additional 228,753 shares during the period. Norges Bank acquired a new stake in Facebook during the fourth quarter valued at about $2,046,500,000. Loomis Sayles & Co. L P boosted its stake in Facebook by 4.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 12,789,217 shares of the social networking company’s stock valued at $1,471,399,000 after buying an additional 493,666 shares in the last quarter. Lansdowne Partners UK LLP boosted its stake in Facebook by 0.3% in the fourth quarter. Lansdowne Partners UK LLP now owns 5,413,363 shares of the social networking company’s stock valued at $622,817,000 after buying an additional 18,138 shares in the last quarter. Finally, Polen Capital Management LLC boosted its stake in Facebook by 8.2% in the fourth quarter. Polen Capital Management LLC now owns 5,003,453 shares of the social networking company’s stock valued at $575,647,000 after buying an additional 380,640 shares in the last quarter. 57.63% of the stock is currently owned by hedge funds and other institutional investors.

Facebook, Inc. (NASDAQ FB) opened at 159.73 on Tuesday. Facebook, Inc. has a 12-month low of $113.55 and a 12-month high of $160.78. The firm has a market cap of $462.93 billion, a PE ratio of 40.61 and a beta of 0.67. The company has a 50-day moving average price of $151.14 and a 200-day moving average price of $138.83.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, May 3rd. The social networking company reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.16. Facebook had a net margin of 36.45% and a return on equity of 20.27%. The company had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.83 billion. During the same period last year, the firm earned $0.77 EPS. The company’s revenue for the quarter was up 49.2% on a year-over-year basis. On average, equities analysts predict that Facebook, Inc. will post $4.87 earnings per share for the current year.

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Several analysts recently issued reports on the company. UBS AG reiterated a “buy” rating and set a $165.00 target price on shares of Facebook in a research report on Wednesday, April 19th. Royal Bank Of Canada reiterated a “buy” rating and set a $185.00 target price on shares of Facebook in a research report on Tuesday, July 11th. Barclays PLC reiterated an “overweight” rating and set a $168.00 target price (up previously from $160.00) on shares of Facebook in a research report on Wednesday, July 12th. Pivotal Research reiterated a “hold” rating and set a $140.00 target price on shares of Facebook in a research report on Monday. Finally, Bank of America Corporation reiterated a “buy” rating and set a $170.00 target price on shares of Facebook in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. Facebook currently has a consensus rating of “Buy” and an average target price of $166.56.

In other Facebook news, CEO Mark Zuckerberg sold 286,387 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $148.40, for a total value of $42,499,830.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher K. Cox sold 16,000 shares of the company’s stock in a transaction dated Friday, April 21st. The stock was sold at an average price of $143.95, for a total transaction of $2,303,200.00. Following the completion of the transaction, the insider now owns 181,431 shares of the company’s stock, valued at approximately $26,116,992.45. The disclosure for this sale can be found here. Insiders have sold a total of 6,254,174 shares of company stock valued at $945,091,701 over the last 90 days. Insiders own 19.08% of the company’s stock.

About Facebook

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.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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