Pitcairn Co. Sells 67 Shares of Facebook, Inc. (FB)

Pitcairn Co. reduced its stake in shares of Facebook, Inc. (NASDAQ:FB) by 0.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,314 shares of the social networking company’s stock after selling 67 shares during the quarter. Facebook comprises about 1.1% of Pitcairn Co.’s investment portfolio, making the stock its 8th largest holding. Pitcairn Co.’s holdings in Facebook were worth $8,805,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Arcadia Investment Management Corp MI grew its holdings in Facebook by 20.0% during the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after acquiring an additional 120 shares during the period. D. Scott Neal Inc. grew its holdings in Facebook by 1,358.0% during the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after acquiring an additional 679 shares during the period. Farmers & Merchants Investments Inc. grew its holdings in Facebook by 4.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock worth $122,000 after acquiring an additional 34 shares during the period. Pacific Center for Financial Services grew its holdings in Facebook by 10.7% during the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock worth $129,000 after acquiring an additional 88 shares during the period. Finally, Watermark Asset Management Inc. acquired a new position in Facebook during the first quarter worth about $141,000. Institutional investors and hedge funds own 57.27% of the company’s stock.

A number of research firms recently issued reports on FB. Barclays PLC reaffirmed an “overweight” rating and set a $168.00 target price (up from $160.00) on shares of Facebook in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $192.00 target price (up from $175.00) on shares of Facebook in a report on Thursday, July 27th. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $180.74 target price on the stock in a report on Monday, September 25th. Royal Bank Of Canada reissued a “buy” rating and issued a $185.00 price target on shares of Facebook in a research note on Tuesday, July 11th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $195.00 price target (up previously from $190.00) on shares of Facebook in a research note on Monday, October 2nd. Two equities research 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 assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $186.72.

Shares of Facebook, Inc. (FB) opened at 180.06 on Wednesday. The company has a market capitalization of $522.93 billion, a PE ratio of 40.30 and a beta of 0.70. Facebook, Inc. has a 52-week low of $113.55 and a 52-week high of $180.80. The stock’s 50 day moving average price is $172.00 and its 200-day moving average price is $161.33.

In other Facebook news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $171.88, for a total transaction of $128,910.00. Following the transaction, the vice president now owns 82,406 shares in the company, valued at approximately $14,163,943.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christopher K. Cox sold 16,000 shares of the firm’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $175.20, for a total value of $2,803,200.00. Following the transaction, the insider now owns 172,871 shares in the company, valued at approximately $30,286,999.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,705,933 shares of company stock worth $972,931,125. Corporate insiders own 19.08% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Pitcairn Co. Sells 67 Shares of Facebook, Inc. (FB)” was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://www.com-unik.info/2017/11/01/pitcairn-co-sells-67-shares-of-facebook-inc-fb.html.

Facebook 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.

Institutional Ownership by Quarter for Facebook (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