Suffolk Capital Management LLC Buys 11,012 Shares of Facebook Inc (FB)

Suffolk Capital Management LLC raised its stake in shares of Facebook Inc (NASDAQ:FB) by 8.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 143,943 shares of the social networking company’s stock after purchasing an additional 11,012 shares during the quarter. Facebook accounts for about 3.2% of Suffolk Capital Management LLC’s holdings, making the stock its 2nd biggest holding. Suffolk Capital Management LLC’s holdings in Facebook were worth $24,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. D. Scott Neal Inc. raised its stake in shares of 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 in the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Facebook during the third quarter worth approximately $111,000. Mountain Capital Investment Advisors Inc purchased a new position in shares of Facebook during the second quarter worth approximately $138,000. Vigilant Capital Management LLC raised its stake in shares of Facebook by 17.8% during the second quarter. Vigilant Capital Management LLC now owns 991 shares of the social networking company’s stock worth $150,000 after acquiring an additional 150 shares in the last quarter. Finally, Odey Holdings AG raised its stake in shares of Facebook by 5.4% during the second quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock worth $160,000 after acquiring an additional 54 shares in the last quarter. Institutional investors and hedge funds own 57.75% of the company’s stock.

Several research analysts have commented on the stock. JPMorgan Chase & Co. set a $230.00 price target on shares of Facebook and gave the stock a “buy” rating in a research note on Monday, January 8th. Pivotal Research reissued a “sell” rating and set a $147.00 price target on shares of Facebook in a research note on Monday, January 8th. Credit Suisse Group lifted their target price on shares of Facebook from $230.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, January 8th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $230.00 target price (up from $215.00) on shares of Facebook in a research note on Monday, January 8th. Finally, BidaskClub raised shares of Facebook from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $202.86.

In other news, insider Michael Todd Schroepfer sold 38,017 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $187.83, for a total transaction of $7,140,733.11. Following the sale, the insider now owns 381,521 shares in the company, valued at approximately $71,661,089.43. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $172.43, for a total transaction of $129,322.50. Following the sale, the vice president now owns 89,916 shares in the company, valued at approximately $15,504,215.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,181,449 shares of company stock worth $752,592,962. Company insiders own 17.23% of the company’s stock.

Shares of Facebook Inc (NASDAQ:FB) opened at $181.29 on Friday. The firm has a market cap of $526,793.94, a price-to-earnings ratio of 34.93, a P/E/G ratio of 1.03 and a beta of 0.68. Facebook Inc has a fifty-two week low of $126.78 and a fifty-two week high of $188.90.

Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.31. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The business had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $9.84 billion. During the same quarter in the previous year, the business posted $1.09 earnings per share. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. equities analysts expect that Facebook Inc will post 5.86 earnings per share for the current fiscal year.

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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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