Eqis Capital Management Inc. lifted its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 4.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,691 shares of the social networking company’s stock after acquiring an additional 1,264 shares during the quarter. Eqis Capital Management Inc.’s holdings in Facebook were worth $5,109,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Boltwood Capital Management grew its stake in shares of Facebook by 1.0% in the 2nd quarter. Boltwood Capital Management now owns 6,758 shares of the social networking company’s stock valued at $1,304,000 after buying an additional 65 shares in the last quarter. Park National Corp OH lifted its holdings in Facebook by 0.7% in the 2nd quarter. Park National Corp OH now owns 202,943 shares of the social networking company’s stock worth $39,168,000 after purchasing an additional 1,427 shares during the last quarter. Private Trust Co. NA lifted its holdings in Facebook by 2.1% in the 2nd quarter. Private Trust Co. NA now owns 19,146 shares of the social networking company’s stock worth $3,695,000 after purchasing an additional 387 shares during the last quarter. Baystate Wealth Management LLC lifted its holdings in Facebook by 19.8% in the 2nd quarter. Baystate Wealth Management LLC now owns 4,432 shares of the social networking company’s stock worth $855,000 after purchasing an additional 734 shares during the last quarter. Finally, Private Asset Management Inc. acquired a new stake in Facebook in the 2nd quarter worth approximately $212,000. Institutional investors own 63.17% of the company’s stock.
Several equities research analysts recently weighed in on the company. Oppenheimer boosted their target price on Facebook from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Monness Crespi & Hardt upped their price target on Facebook from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Summit Insights started coverage on Facebook in a report on Friday, September 27th. They set a “buy” rating for the company. Deutsche Bank upped their price target on Facebook from $230.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. They noted that the move was a valuation call. Finally, JMP Securities upped their price target on Facebook from $220.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-one have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $228.33.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.21. The business had revenue of $17.65 billion for the quarter, compared to analysts’ expectations of $17.35 billion. Facebook had a return on equity of 20.39% and a net margin of 27.08%. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.76 earnings per share. Equities research analysts forecast that Facebook, Inc. will post 8.57 earnings per share for the current fiscal year.
In other Facebook news, CEO Mark Zuckerberg sold 122,855 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $192.22, for a total value of $23,615,188.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $181.62, for a total value of $9,989,100.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,555,764 shares of company stock worth $843,798,351. 14.53% of the stock is owned by company insiders.
Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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