Facebook, Inc. (NASDAQ:FB) posted its earnings results on Tuesday. The social networking company reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.31, Bloomberg Earnings reports. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $9.84 billion. During the same period in the previous year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year.
In other news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $164.21, for a total value of $123,157.50. Following the completion of the transaction, the vice president now owns 92,591 shares of the company’s stock, valued at approximately $15,204,368.11. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 248,984 shares of Facebook stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $170.69, for a total value of $42,499,078.96. The disclosure for this sale can be found here. Insiders have sold 5,705,933 shares of company stock valued at $972,931,125 in the last three months. Insiders own 19.08% of the company’s stock.
Large investors have recently modified their holdings of the business. Mountain Capital Investment Advisors Inc bought a new stake in shares of Facebook during the 2nd quarter valued at about $138,000. Odey Holdings AG grew its stake in shares of Facebook by 5.4% during the 2nd quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock valued at $160,000 after purchasing an additional 54 shares during the period. Almanack Investment Partners LLC. bought a new stake in shares of Facebook during the 2nd quarter valued at about $165,000. Lenox Wealth Management Inc. grew its stake in shares of Facebook by 9.4% during the 2nd quarter. Lenox Wealth Management Inc. now owns 1,140 shares of the social networking company’s stock valued at $172,000 after purchasing an additional 98 shares during the period. Finally, Corbenic Partners LLC grew its stake in shares of Facebook by 22.5% during the 2nd quarter. Corbenic Partners LLC now owns 1,225 shares of the social networking company’s stock valued at $185,000 after purchasing an additional 225 shares during the period. 57.27% of the stock is owned by institutional investors and hedge funds.
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A number of equities research analysts have weighed in on FB shares. Credit Suisse Group reissued a “buy” rating on shares of Facebook in a report on Wednesday, October 11th. Goldman Sachs Group, Inc. (The) set a $205.00 target price on shares of Facebook and gave the stock a “buy” rating in a report on Friday, October 20th. Robert W. Baird reissued a “buy” rating and set a $185.00 target price on shares of Facebook in a report on Friday, September 1st. Wedbush set a $225.00 target price on shares of Facebook and gave the stock a “buy” rating in a report on Monday. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of Facebook in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-five have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $188.91.
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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